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June 28, 2000

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 Company  Virtual Dynamics Software
 Market Price  Not listed
 Lead manager  Canara Bank, SMIFS Capital Markets
 Listing At  Bangalore, Ahmedabad
 Opening/Closing  June 28, 2000 / July 1, 2000
 Promoters  Ishwar C Sharma, Raman Sharma, Surinder Ahuja
 Associate Co.  None
 Managing Director  Ishwar C Sharma
 Post-issue Stake  61.66%
 Issue  
 Size  Rs 15 million
 Price  Rs 10
 On Application  Rs 5
 On Allotment  Rs 5
 Objective  Repay overdue loan from KSIIDC, infrastructure facilities, set up office in USA
 Business  
 Product  Consulting, software development, systems deployment
 Location  Bangalore
 Project cost  Rs 34 million
 Funded by  Equity and term loan from Canara Bank
 Kensource projections  (2001)
 Sales  Rs 7 million
 Profit  Rs 0.9 million
 Earnings per share  Re 0.16
 Return on equity  1%
 Comment A loss making company. Has been 'virtually' inactive since 1997
 Rating *  D

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

By Kensource Information Services Pvt. Ltd.

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