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May 9, 2000

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 Company  Arraycom (India)
 Market Price  Not listed
 Lead manager  SBI Capital Markets
 Listing At  BSE, Ahmedabad
 Opening/Closing  May 9, 2000 / May 15, 2000
 Promoters  Jaisukhlal J Parekh, Atul Parekh, Gorsi Parekh
 Associate Co.  None
 Managing Director  Atul Parekh
 Post-issue Stake  45.59%
 Issue  
 Size  Rs 585 million
 Price  Rs 65. Face value Rs 5, premium Rs 60
 On Application  Rs 16.25
 On Allotment  Rs 48.75
 Objective  Setting up a subsidiary in the US, strategic acquisitions, setting up in-house software facilities
 Business  
 Product  Communication solutions, materials and components
 Location  Gandhinagar, Gujarat
 Project cost  Rs 727.1 million
 Funded by  Equity shares, share premium, internal accruals
 Kensource projections  (2001)
 Sales  Rs 715 million
 Profit  Rs 128.5 million
 Earnings per share  Re 4.5
 Return on equity  11%
 Comment The company has strong fundamentals and scope for growth but the issue is a little overpriced now
 Rating *  B

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

By Kensource Information Services Pvt. Ltd.

IPO Analysis

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