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June 12, 2000

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 Company  Kirloskar Multimedia
 Market Price  Not listed
 Lead manager  Ind Global Financial Trust, SMIFS Capital Markets
 Listing At  BSE, Bangalore
 Opening/Closing  June 12, 2000 / June 19, 2000
 Promoters  Sukumar Kirloskar, Ajay Kirolskar, Padmaja S Kirloskar
 Associate Co.  Kirloskar Multimedia Inc. USA, Kirloskar Dimensions Pvt. Ltd.
 Managing Director  Ajay Sukumar Kirloskar
 Post-issue Stake  69.52%
 Issue  
 Size  Rs 36.5 million
 Price  Rs 10
 On Application  Rs 10
 On Allotment  Nil
 Objective  To retire debt, purchase equipment, fund product marketing expenses, set up an international marketing office, meet product development expenses
 Business  
 Product  Multimedia Software
 Location  Bangalore
 Project cost  Rs 41 million
 Funded by  Equity and debt
 Kensource projections  (2001)
 Sales  Rs 2 million
 Profit  Rs 0.12 million
 Earnings per share  Re 0.01
 Return on equity  Negligible
 Comment Sunk in debt, loss making, no clear growth path. The company is a 100% EOU that has failed to export and has to pay custom duty to the tune of more than Rs 8 million instead.
 Rating *  D

* A=Subscribe & Hold ; B = Subscribe & Watch C=Subscribe & Sell ; D = Avoid

By Kensource Information Services Pvt. Ltd.

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