|
2nd
October 2000: OASIS INFOTECH LIMITED
For concise details,
please visit: http://www.soffina.com/si_ipo/index.htm
Our recommendation: AVOID
Why:
| • |
Nothing
special about the IPO |
| • |
Objective
very very wide. So doubt on focus |
| • |
Primary
aim is to raise money and then decide what to
do, later
|
| • |
Many
IPOs more focuses are doing badly in the
secondary market |
| • |
Ideally,
should have sought money from the VCs and not
from the gullible public |
| • |
Big
comfort factor in our going wrong is APIDC, who
is funding the project by debt and equity |
Other
facts:
| • |
IPO
opens on 4th October, 2000 and closes on 11th
October, 2000 |
| • |
Listing
at Hyderabad, Bangalore and Ahmedabad Stock
Exchanges |
| • |
IPO
@ rs. 10 per share. Rs. 5.00 on application |
| • |
IPO
for 20 lac equity shares aggregating RS.200.00
LAKH |
The
Shareholding pattern of the company is as follows :-
| Entity |
No.
of shares |
%
of total equity Pre-Issue |
%
of total equity Post issue |
| Core
Promoters |
742600 |
27.04% |
12.33% |
| Promoters
group |
2003400 |
72.96% |
33.28% |
| To
be allotted |
1204000 |
0.00% |
20.00% |
| Total |
|
100.00% |
65.61% |
History
of the company
M/s. Oasis Infotech Limited was originally incorporated
as M/s. Oasis Infotech Pvt. Limited on 28-11-1997; its
name was changed to Oasis Infotech Limited on
23.12.1999.
The Company was promoted by Sri. V. Srikanth, Sri. L.
Vijay Anand, and Sri. V.S.R. Ch. Murthy
The proposal envisages expanding its activities in the
areas of ERP, E-Banking, WAP, CBT and Software related
services and IT enable services
Promoters:
MR. VEMULAPALLI SRIKANTH, Aged 29 years, is a B.Tech
from JNTU and M.S from USA. He worked with TRW
Associates at Washington D.C, USA as Software Engineer
for 2 ½ years. He is good at Client Server application
and Web development. He was appointed as Managing
Director of the Company on 11th May, 1998 for 5 Years.
Mr. VIJAY ANAND L, Aged 29 years, is a B.Tech from JNTU
and M.C.M from NICMAR Pune. He worked with M/s. Simplex
Concrete Piles India Limited as a Planning Manager (MIS)
for 2 years. He has good exposure in Windows NT, Solaris
and Linux. He was appointed as a Whole Time Director on
24-11-1997 for a period of 5 years and looks after
training and day-to-day administration of the company.
MR. V.S.R.CH. MURTHY, Aged 29 years, are a B.Tech from
JNTU and M.S. from BITS Pilani. He worked with a CADD
center as a Programmer for 2 years. He got good exposure
in the areas of C++ and Java. He was appointed as a
Whole Time Director of the Company on 24-11-1997 for a
period of 5 years and looks after Software Development
Past Performance
|
|
Sales
|
|
|
|
|
|
|
Software
- Exports
|
-
|
-
|
1,130,900
|
|
|
|
Software
Domestic
|
-
|
-
|
898,269
|
|
|
|
Sales
- Hardware
|
-
|
-
|
140,000
|
|
Profit
Before Interest, Depreciation & Tax (A-B)
|
60,151
|
1,103,390
|
3,021,600
|
|
Depreciation
|
40,277
|
841,841
|
1,512,161
|
|
Interest
|
125
|
82,333
|
338,778
|
|
Profit
Before Tax
|
19,749
|
179,216
|
1,170,661
|
|
Provision
for Tax
|
2,074
|
18,818
|
183,441
|
|
Profit
after Tax
|
17,675
|
160,398
|
987,220
|
Objects
of the IPO
| • |
To
Fund the cost of proposed project of software
Development and to set up infrastructure
facilities in related areas. |
| • |
To
Set Up overseas offices at Singapore and USA. |
| • |
To
meet the expenses of the present issue. |
| • |
To
list the shares of the Company on the Hyderabad,
Bangalore and Ahmedabad Stock Exchanges. |
The
Cost of the project has been appraised by APIDC,
|
Particulars
|
Existing
|
Proposed
|
Total
|
Land
and Buildings
|
Leased
|
|
|
|
Site
Development & Interiors
|
16.93
|
45.00
|
61.93
|
|
Plant
& Machinery
-
Hardware
-
Software
|
19.70
4.48
|
153.95
48.83
|
173.65
53.51
|
|
Misc.
fixed Assets
|
3.70
|
53.69
|
57.39
|
|
Contingencies
|
--
|
22.77
|
22.77
|
|
Overseas
Office Expenses
|
--
|
68.20
|
68.20
|
|
Deposits
|
5.86
|
23.00
|
28.86
|
|
Preliminary
& Preoperative expenses
|
0.36
|
62.12
|
62.48
|
|
Working
Capital
|
12.72
|
131.83
|
144.55
|
|
Total
|
63.75
|
609.39
|
673.14
|
|
MEANS
OF FINANCE
|
|
|
|
|
Share
Capital
|
|
|
|
|
|
- Promoters
|
55.61
|
339.39
|
395.00
|
|
|
- APIDC
|
---
|
7.00
|
7.00
|
|
|
- Public Issue
|
---
|
200.00
|
200.00
|
|
|
Total capital
|
55.61
|
546.39
|
602.00
|
|
|
Reserves
& Surpluses
|
4.94
|
---
|
4.94
|
|
|
Term
loans
|
|
|
|
|
|
- APIDC
|
---
|
63.00
|
63.00
|
|
|
- Others
|
3.20
|
---
|
3.20
|
|
|
Total
|
63.75
|
609.39
|
673.14
|
|
|
