Datapro Info To Float Premium Issue In April

Datapro Infoworld Ltd, a Datapro group company, plans to go public in April this year with a premium issue.

The company proposes to float 27.14 lakh equity shares at a premium of Rs 25 per share, aggregating Rs 9.5 crore.

At present, the company is engaged in computer education, software consultancy, sales of packaged software, peripherals and media consumables.

Datapro Infoworld plans to set up software development facilities, corporate training centres and marketing offices.

The proceeds of the public issue will be utilised towards these purposes.

The project has been appraised by ICICI and part financed by it to the tune of Rs 3.75 crore.

 

For the year ended March 1996, the company recorded a turnover of Rs 36.24 crore. The net profit of the company stood at Rs 3.05 crore.

On an equity base of Rs 2.96 crore, the earning per share worked out to Rs 10.31.

The net asset value/share ratio is Rs 27.22.

Justifying the premium for the present issue, Rajeev Arora, chairman cum managing director of the company told Business Standard that the company has been recognised as an authorised training centre for Autodesk and Novell, USA.

With 125 locations across the country, the company has emerged as a premier training institute, thus making the premium quite reasonable.

Another group company, Datapro Information Technology Ltd, had gone public in 1994, when it had issued 66.24 lakh equity shares at par.

Datapro Information Technology is engaged in setting up a national e-mail service network and a range of message handling systems.

The performance of the company has been lagging behind the projections, with its shares currently being quoted at Rs 4.

According to Arora, the performance lagged behind mainly because of a six-month delay in the company's project implementation.

Besides, the e-mail market has not expanded as fast as the company expected.