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| View Poll Results: Will you subscribe to Tech Mahindra IPO | |||
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6 | 50.00% |
| NO |
  
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6 | 50.00% |
| Voters: 12. You may not vote on this poll | |||
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#2
1st August 2006, 08:03 PM
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Re: Tech Mahindra:Subscribe or not to Subscribe?
IT solutions company, Tech Mahindra is open its IPO today for subscription. The price band has been fixed at Rs 315-365 per share.
A quick look at Tech Mahindra IPO: Issue snapshot Price band: Rs 315-365/sh Offers 1.27 crore shares to public 31.84 lakh shares are fresh equity while M&M and British Telecom offer 95.6 lakh shares Issue size: Rs 400.05-457.2 crore Issue opens on Aug 1 & closes on Aug 4 Utilisation of Money * Proceeds of the issue to be used to set up additional facilities in Pune * Already purchased 98400 sq meters of land Strengths * Exclusive focus on telecommunications industry * Strong client relationships Negatives * Heavy dependence on few clients * BT accounts for 69% of revenues * High attrition rate Q1FY06 (QoQ) * Total Income up 40.35% from Rs 421.2 crore to Rs 591.17 crore * Net Profit up 19.74% from Rs 89 crore to Rs 106.57 crore FY06 * Revenues up 31% to Rs 1242.7 crore * Net Profit up 130% to Rs 235.4 crore Company details * Headcount exceeds 10,000 * Expansion in Noida, Calcutta and Chandigarh Holdings * M&M owns 56.1%; will come down to 51.3% post issue * British Telecom owns 42.4%; will come down to 36.2% post issue Customers * Alcatel * Alltel * BT * Convergys * Ericsson * Marconi * O2 * Vodafone source: moneycontrol.com 
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Tech Mahindra:Subscribe or not to Subscribe?
