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June 22, 2000

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 Company  Cyberwave Internet Solutions
 Market Price  Not listed
 Lead manager  Canara Bank, Taib Capital Corporation
 Listing At  Madras, Bangalore, Hyderabad
 Opening/Closing  June 22, 2000 / June 27, 2000
 Promoters  S Sriram, P Suresh, P Karthikeyan, S Rajaji
 Associate Co.  None
 Managing Director  S Sriram
 Post-issue Stake  73.30%
 Issue  
 Size  Rs 13.25 million
 Price  Rs 10
 On Application  Rs 10
 On Allotment  Nil
 Objective  Part finance project - providing Internet services through cable modems in Madras
 Business  
 Product  ISP
 Location  Madras
 Project cost  Rs 49.80 million
 Funded by  Equity and a loan of Rs 5 million
 Kensource projections  (2001)
 Sales  Rs 5.06 million
 Profit  Rs 0.86 million
 Earnings per share  Re 0.16
 Return on equity  1%
 Comment The company is likely to get dwarfed by powerful ISP majors
 Rating *  D

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

By Kensource Information Services Pvt. Ltd.

IPO Analysis

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