Weal Infotech Ltd.
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  • Issue Opens: April 28th 2000
  • Issue Price: Rs.10 each (FV – Rs.10/-)
  • Issue Size:13,20,000 shares amounting to Rs.13.2 million
  • Registrars to the Issue: Aarthi Consultants Pvt Ltd, Hyderabad
  • Issue Closes: 4th May 2000
  • Minimum Application: 200 shares @ Rs.5 each
  • Post issue promoter's stake: 36.98%
  • Lead Managers: Munoth Financial Services Limited, Chennai and Central Bank of India, Mumbai.

Listing on: Hyderabad, Bangalore and Madras Stock Exchange.
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Highlights of the Issue
  • This newly Hyderabad based incorporated company is yet to commence any commercial operation. The aim of the company is to set up business in information technology sector.
  • Core promoters are S. Anand, Bhanu Prakash and K.Satnarayana. All the promoters are well educated and experienced.
  • Issue aims to part-finance the proposed project, establish the overseas liaison office and software development center.
  • The project is appraised by Central Bank of India and has granted Rs.5.8 million towards the project.
  • It is planning to establish its business with product developments like portals; WAP applications and consultancy & service like e-consultancy, support management etc.
  • Out of the total estimated project cost of Rs.58 million, Rs.20 million is allocated for software and hardware purchase and Rs.13 million is allocated for miscellaneous assets.
  • Company plans to set up overseas offices in USA, Singapore and Australia.
  • Projected profit stands at Rs.18.31 million by 31/03/2001 and Rs.25.76 million by 31/03/2002.
  • NRIs can apply on repatriation basis through their NRE/FCNR account.
  • Issue can be considered for a short term basis only

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