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INTRODUCTION ABOUT ARCADIA
ABOUT ARCADIA :
Arcadia came to life in1995, right on the wave of a post – liberalization market economy. As financial services became a major contributor to economic growth, Arcadia has steadily shaped into a leading financial service provider. In 1995, Arcadia was a small company with just 5 employees. Today, Arcadia has market presence across the country, with over 250 branches and franchisee outlets. Arcadia has established a strong retail network not only in metros but also in tier two and tier three cities. Traditionally, Arcadia operation was concentrated in the fast-moving capital market of Western India. But sensing great potential, Arcadia has launched strong expansion plans in the North and South. This systematic presence-building and efficient delivery of service has put Arcadia among the fastest growing retail broking houses in the country, with memberships in : (1) (2) (3) (4) (5) The National Stock Exchange of India ( NSE ) The Bombay Stock Exchange (BSE) The Multi Commodity Exchange ( MCX ) The National Commodity & Derivatives Exchange ( NCDEX ) The Depository Participate Of CDSL Today Arcadia has accumulated acknowledged leadership in execution and clearing services on exchange-traded derivatives and cashmarket products. Working with leading stock exchanges and noted financial institution has frilled in us the importance of real-time information and use of analytical tools in investment decision. Practicing this over the years has made us experts in investor behaviour.

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Arcadia’s integrated and innovation use of technology provides clients with the ability to trade offline and online. Clients have constant access to account information either on internet or through our electronic File Transfer Protocol (FTP).

TOP MANAGEMENT :
MR. ANTHONY SEQUEIRA (Founder, Managing Director): The chief promoter of Arcadia has been associated with the capital markets for over 25 years. Mr. Sequeira has a rich 19 years of banking experience with Corporation Bank and Syndicate Bank. For 6 years he was the Chief Executive of M/S Uday S. Kotak, now known as Kotak Securities. Mr. Sequeira is respected in the organization for being a complete taskmaster. His thrust for client satisfaction is an energizing force within the organization. He is completely committed toward making Arcadia a one-stop financial service provider. MR. NITIN BRAHMBHATT (Director): The director is an arbitrage consultant by profession, with 25 years experience in the capital market. Between 1985 and 1995, he played the role of a leading market maker in the Bombay Stock Exchange. He has a rich experience in the field of arbitrage. The credit for building the arbitrage team for Arcadia goes to him. It is his leadership, Arcadia has created a mammoth network of branches and franchisees.

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VISION AND MISSION:
(1) (2) (3) (4) (5) (6) To be a reputed provider of reliable, ready-to-use, high integrity financial services. To offer customer delight with best value for money and maximum market access. To persistently expand territorial presence and enlarge clientele base. To be an involved business, with focus on technology, innovation and creativity. To continually develop quality products, keeping pace with emerging market needs. To create a principled work atmosphere that empowers employees to learn and grow.

PRESENCE IN MARKET : REGITERED OFFICE :
Arcadia Share & Stock Brokers Pvt. Ltd., Second Floor, Lenin Complex, Opposite Apollo Hospital, Bhagyanagar Colony, Kukatpally, Hydrabad: 500072

HEAD OFFICE :
Arcadia Share & Stock Brokers Private Ltd., 328 Ninad, building no.7, Service Road, Bandra (East), Mumbai – 400 051. Telephone: +91-022-26478888, Fax: +91-22-26478988

Note: Arcadia has over 55 branches in Mumbai

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REGIONAL OFFICES : Ahmedabad : 079-32930948 Amritsar Bangalore Bikaner Goa Jaipur Jalandhar Kannur : 0183-3248222 : 08041-284862 : 0151-2272926 : 0832-2221753 : 0141-3213755 : 0181-3248555 : 0497-2703910 Kochi : 0484-3077505

Ludhiana : 0181-3248555 Mangalore: 0824-2442112 Mohali Nadiad Surat Udupi : 0181-3248555 : 02068-3093237 : 0261-243248 : 0820-3255820

Bhavnagar : 0278-3001755

New Delhi : 011-55326101

Hyderabad : 040-32400308

Vadodara : 0265-3922250

PRODUCT AND SERVICES :
They have a wide range of products specially designed to meet financial requirement of individual and corporate investors, both Indians and NRI (Non Resident Indians.) 1). Capital Market: They offer trading in NSE that has played a catalytic role in reforming the Indians securities market in term of microstructure, market practices and trading volumes. Here we trade both in capital and future & option markets. 2). Commodity Market : They help us at the ‘independent and de-mutulised multi-commodity exchange. They facilitate trading in the National commodity & derivatives Exchange Ltd.

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3). NRI (Non – resident Indian) : They have a separate desk to guide Non-resident Indian investors about Initial Public Offer (IPO), the secondary market of listed stocks and mutual funds. 4).Internet-Based trading : The biggest advantage of online trading is that investor command an expansive access to information. Corporate analysis and financial results are available on the net. In order to facilitate smooth and safe trading on the net. Also, Arcadia trading terminals are linked with HDFC Bank and UTI Bank to facilitate hassle-free transfer of funds. 5).Mutual Funds : MF is one of the best investments in the contemporary market because they are cost-efficient and easy to manage. It’s the MF manager who decides the direction of your investment. In fact, by pooling money together in a MF, small investors themselves can purchase stock and bonds paying much lower trading costs. 6). IPO : Timely investment in Initial Public Offerings, better known as IPOs, offer great opportunity for netting high returns in a short time span. 7). Catch the Market Live : The daily market report contains updated and comprehensive market information with guided insight into the investment environment and market swings of the day. 8). Book-Keeping in back office. 9). Depository services.

INTRODUCTION ABOUT STOCK MARKET
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CAPITAL MARKET :
Capital market deals with long – term funds. It supplies long term and medium term funds. Capital market deals with ordinary shares, stocks, debentures and bonds of corporation and securities of the govt. the funds which flow into the capital market comes from savers. Since 1951, the Indian capital market has been broadening slowly. The volume of savings and investment, have started showing steady improvement. and further, there are various institutions, which operate in the capital market give quantitative and qualitative direction to the flow of funds and bring rational allocation of resources. The structures of Capital Market are as follow.

CAPITAL MARKET

MARKETABLE SECURITIES

NONMARKETABLE SECURITIES

GOVT. SECURITIES

CORPORATE SECURITIES

DEBT INSTRUMENT

MUTUAL FUND

BANK DEPOSIT

COMPANY DEPOSIT

POST OFFICE

LOAN AND ADVANCES

Marketable securities: Marketable securities are those which can easily
transfer from one person to another person. These are issued through new issue market and traded through stock market.

Non- Marketable Securities: Non- Marketable securities are issued by
Post office as saving certificate, deposits; deposits with Bank and Financial Institutions, Loan & advances from Bank & Financial Institutions etc.

MEANING OF STOCK EXCHANGE :
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Stock exchange represents an organized market in trading of securities. Stock exchange is established with the main purpose of providing a market place for the members to deal in securities. Stock exchanges are indispensable for the proper functioning of corporate enterprises. Stock exchange helps the investors, ready and continuous market, negotiability, liquidity and safety of investments. According to securities contracts (regulation) Act 1956, stock exchange means anybody or individuals, wherever incorporated or not constituted for the purpose of assessing, regulation or controlling the business of buying, selling or dealing in securities. According to this Act, a security includes shares, scrip’s, stocks, bonds, debentures or other marketable securities.

HISTORY OF STOCK EXCHANGE :
Exchange arises in Europe in 16 th century. Trading was carried on in those exchanges in terms of “securities”. The London stock exchange was tended to deals only in company shares at that time. It may also consider as the earliest of modern type of stock markets. 1860, the exchange flourished with 60 brokers. In fact the 'Share Mania' in India began with the American Civil War broke and the cotton supply from the US to Europe stopped. Further the brokers increased to 250.At the end of the war in 1874, the market found a place in a street (now called Dalal Street). and The National Stock Exchange Of India (NSE) was incorporated in November 1992 as tax-paying company.

LISTING OF SECURITIES :
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Listing means admission of securities to dealings on a recognized stock exchange of any incorporated company, central & state Governments, Quasi Governmental and other financial institution, municipalities, electricity, housing boards etc. Stock Exchange means any body of individuals, whether incorporated or not, constituted for the purpose of assisting, regulation or controlling the business of buying, selling or dealing of securities. Every recognized stock exchange i.e. a stock exchange which is for the time being recognized by the central Govt. under section 4 of the securities regulation Act, 1956, has the power to make bye-laws for the listing of securities on the stock exchange. Securities are bought and sold in a recognized stock exchange are known as ‘Brokers’. The price at which the securities are bought and sold on a recognized stock exchange is known as “official Quotation “.

THE STOCK EXCHANGES IN INDIA :
1). BOMBAY STOCK EXCHANGE (BSE) : Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich heritage. Popularly known as "BSE", it was established as "The Native Share & Stock Brokers Association" in 1875. It is the first stock exchange in the country to obtain permanent recognition in 1956 from the Government of India under the Securities Contracts (Regulation) Act, 1956.The Exchange's pivotal and pre-eminent role in the development of the Indian capital market is widely recognized and its index, SENSEX, is tracked worldwide.

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The Exchange has a nation-wide reach with a presence in 417 cities and towns of India. The systems and processes of the Exchange are designed to safeguard market integrity and enhance transparency in operations. During the year 2004-2005, the trading volumes on the Exchange showed robust growth. The Exchange provides an efficient and transparent market for trading in equity, debt instruments and Derivatives.

2). NATIONAL STOCK EXCHANGE (NSE) : The National Stock Exchange of India (NSE) was incorporated in November 1992 as a tax-paying company. It is recognized under Securities Contracts (Regulation) Act, 1956 in 1993 as a stock exchange. In June 1994, it commenced operations in the Wholesale Debt Market (WDM). In November, the same year, the Capital Market (Equities) segment commenced operations and the Derivatives segment in June 2000. NSE can handle up to 6 million trades per day in Capital Market segment. In order to capitalize on in-house expertise in technology, NSE set up a separate company, NSE.IT, in October 1999. The Exchange currently manages its data centre operations, system and database administration, design and development of in-house systems and design and implementation of telecommunication solutions. NSE is one of the largest interactive VSAT based stock exchanges in the world. Today it supports more than 3000 VSATs. The NSE- network is the largest private wide area network in the country and the first extended C- Band VSAT network in the world. Currently more than 9000 users are trading on the real time-online NSE application. .

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STOCK MARKET INDEX :
An index is benchmark for measuring the performance of fund managers and is a comprehensive measure of market trends, intended for investors who are concerned with general stock market price movements. An Index comprises stocks that have large liquidity and market capitalization. Each stock is given a weight age in the Index equivalent to its market capitalization. It has practical applicable too in the world of finance. Both BSE & NSE has launched index futures based on the S & P, CNX Nifty and BSE Sensex receptively. In global market for index services and their applications is a multi- trillion rupees industry.

FUNCTIONS :
Stock exchange is established with the main purpose of proving a market place for the members to deal in securities under well laid down regulation and the protect the interest of the investors. Thus, the functions are as follow. Facilitate continuous, ready and open market for selling and buying securities. Provide quotation for share/ stock for facilitate trading and marketability. Extend liquidity to such stock as they are easily marketable security traded. Promote savings and investment in the economy by attracting funds from the investors. Allow companies to float their shares on the market. Provide capital to profitable sectors. Ensure safety and fair dealings to all.

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CHANGES IN STOCK EXCHANGES :
At the initial stages, there was floor trading i.e. people who want to buy or sales where company together and transfer their shares and securities required scrip’s as per shouting the price of shares for buy or sell it. (1). Demate form of trading : All scrip’s are put in Demate for trading in the last few years. By compulsory using of Demate from is increase the volume and increased in liquidity. (2). Electronics form of trading : Globalization of stock exchange is now on way. The electronics are has come to stock exchange nearly 100 % of all transaction are executed through Electronics Media more and more brokers and subbrokers are setting into the internet. (a). On – Line trading systems : The SEBI have allowed On – Line trading and broker would rush to the web site and trading through web site would increased. On the Internet one would be able to trade instantly and transferantly from any part of the world. In this method the investor comes to know immediately the trade members, time, rate at which the trade room places. (3). Electronics Fund Collection : Under this systems. The broker set their funds directly credited to their account and the clients can in then set their accounts credited or debited for the net funds to flow address the country.

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ABOUT IPO/FPO
Initial Public Offering (IPO) :
Initial Public Offering (IPO) is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuer’s securities.

Follow on Public Offering (FPO) :
A follow on public offering (FPO) is when an already listed company makes either a fresh issue of securities to the public or an offer for sale to the public, through an offer document. An offer for sale in such scenario is allowed only if it is made to satisfy listing or continuous listing obligations.

Book Building - About Book Building :
Book Building is basically a capital issuance process used in Initial Public Offer (IPO) which aids price and demand discovery. It is a process used for marketing a public offer of equity shares of a company. It is a mechanism where, during the period for which the book for the IPO is open, bids are collected from investors at various prices, which are above or equal to the floor price. The process aims at tapping both wholesale and retail investors. The offer/issue price is then determined after the bid closing date based on certain evaluation criteria.

Book Building – Glossary : Bid :
A bid is the demand for a security that can be entered by the syndicate/sub-syndicate members in the system. The two main components of a bid are the price and the quantity.

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Bidder :
The person who has placed a bid in the Book Building process.

Book Running Lead Manager :
A Lead Merchant Banker Who has been appointed by the issuer company as the Book Runner Lead Manager. The name of the Book Runner Lead Manager is mentioned in the offer document of the issuer company.

Cut off Price :
In Book building issue, the issuer is required to indicate either the price band or a floor price in the red herring prospectus. The actual discovered issue price can be any price in the price band or any price above the floor price. This issue price is called “Cut off price”. This is decided by the issuer and Lead manager after considering the book and investors’ appetite for the stock.

Floor Price :
The minimum offer price below which bids cannot be entered. The Issuer Company in consultation with the Book Running Lead Manager fixes the floor price.

Price Band :
The prospect may contain either the floor price for the securities or a price band within which the investors can bid. The spread between the floor price and cap of the price band shall not be more than 20 %. In other words, it means that the cap should not be more than 120% of the floor price. The price band can have a revision and such a revision in the price band shall be widely disseminated by informing the stock exchanges, by issuing press release and

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also indicating the change on the relevant website and the terminals of the syndicate members. In case the price band is revised, the bidding period shall

be extended for a further period of three days, subject to the total bidding period not exceeding thirteen days. It is up to the company to decide on the price or the price band, in consultation with Merchant Bankers.

Fixed Price offers :
An issuer company is allowed to freely price the issue. The basis of issue price is disclosed in the offer document where the issuer discloses in detail about the qualitative and quantitative factors justifying the issue price. The Issuer company can mention a price band of 20% (cap in the price band should not be more than 20% of the floor price) in the Draft offer documents filed with SEBI and actual price can be determined at a later date before filing of the final offer document with SEBI.

Merchant Banker :
An entity registered under the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1999. Merchant Banker shall decide the price of an issue.

Syndicate Members :
The Book Runner(s) may appoint those intermediaries who are registered with the Board and who are permitted to carry on activity as an ‘Underwriter’ as syndicate members. The syndicate members are mainly appointed to collect and entire the bid forms in a book built issue.

Order Book :
It is an 'electronic book' that shows the demand for the shares of the company at various prices.

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The Process :

The Issuer who is planning an IPO nominates a lead merchant The Issuer specifies the number of securities to be issued and the The Issuer also appoints syndicate members with whom orders can Investors place their order with a syndicate member who inputs the

banker as a 'book runner'.

price band for orders.

be placed by the investors.

orders into the 'electronic book'. This process is called 'bidding' and is similar to open auction.
• • • •

A Book should remain open for a minimum of 5 days. Bids cannot be entered less than the floor price. Bids can be revised by the bidder before the issue closes. On the close of the book building period the 'book runner evaluates

the bids on the basis of the evaluation criteria which may include –
   •

Price Aggression Investor quality Earliness of bids, etc.

The book runner and the company conclude the final price at which Generally, the number of shares is fixed; the issue size gets frozen Allocation of securities is made to the successful bidders. Book Building is a good concept and represents a capital market

it is willing to issue the stock and allocation of securities.

based on the price per share discovered through the book building process.
• •

which is in the process of maturing.

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Corporate may raise capital in the primary market by way of an initial public offer, rights issue or private placement. An Initial Public Offer (IPO) is the selling of securities to the public in the primary market. This

Initial Public Offering can be made through the fixed price method, book building method or a combination of both. In case the issuer chooses to issue securities through the book building route then as per SEBI guidelines, an issuer company can issue securities in the following manner: a. 100% of the net offer to the public through the book building route. b. 75% of the net offer to the public through the book building process and 25% through the fixed price portion.

LISTING OF SECURITIES :
Listing means admission of the securities to dealings on a recognized stock exchange through a formal agreement. The prime objective of admission to dealings on the exchange is to provide liquidity and marketability to securities, as also to provide a mechanism for effective control and supervision of trading.

Minimum Listing Requirements for new companies :
The following revised eligibility criteria for listing of companies on the Exchange, through Initial Public Offerings (IPOs) & Follow-on Public Offerings (FPOs), effective August 1, 2006.

Eligibility Criteria for IPOs/FPOs :
Companies have been classified as large cap companies & small cap companies. A large cap company is a company with a minimum 16

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issue size of Rs. 10 crores & market capitalization of not less than Rs. 25 crores. A small cap company is a company other than a large cap company.

• • • •

In respect of Large Cap Companies :
The minimum post-issue paid-up capital of the applicant The minimum issue size shall be Rs. 10 crores; and The minimum market capitalization of the Company shall be

company (hereinafter referred to as "the Company") shall be Rs. 3 crores;

Rs. 25 crores (market capitalization shall be calculated by multiplying the post-issue paid-up number of equity shares with the issue price) • •

In respect of Small Cap Companies :
The minimum post-issue paid-up capital of the Company shall

be Rs. 3 crores; and • • The minimum issue size shall be Rs. 3 crores; and The minimum market capitalization of the Company shall be

Rs. 5 crores (market capitalization shall be calculated by multiplying the post-issue paid-up number of equity shares with the issue price); and • • shall be 1000. • A due diligence study may be conducted by an independent team of Chartered Accountants or Merchant Bankers appointed by the Exchange, the cost of which will be borne by the company. The requirement of a due diligence study may be waived if a financial institution or a scheduled commercial bank has appraised the project in the preceding 12 months. The minimum income/turnover of the Company should be Rs. The minimum number of public shareholders after the issue 3 crores in each of the preceding three 12-months period; and

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For all companies :
In respect of the requirement of paid-up capital and market

capitalization, the issuers shall be required to include in the disclaimer clause forming a part of the offer document that in the event of the market capitalization (product of issue price and the post issue number of shares) requirement of the Exchange not being met, the securities of the issuer would not be listed on the Exchange • • The applicant, promoters and/or group companies, should not The above eligibility criteria would be in addition to the be in default in compliance of the listing agreement. conditions prescribed under SEBI (Disclosure and Investor Protection) Guidelines, 2000.

Allotment of Securities :
As per the SEBI guidelines, the Basis of Allotment should be completed with 15 days from the issue close date. As soon as the basis of allotment is completed, within 2 working days the details of credit to demat account / allotment advice and dispatch of refund order needs to be completed. So an investor should know in about 15 days time from the closure of issue, whether shares are allotted to him or not.

SEBI’s Role in an Issue :
Any company making a public issue or a listed company making a rights issue of value of more than Rs.50 lakhs is required to file a draft offer document with SEBI for its observations. The company can proceed further on the issue only after getting observations from SEBI. The validity period of SEBI’s observation letter is three months only i.e. the company has to open its issue within three months period.

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Prospectus :
Any company floating public issues need to provide adequate disclosure of information to public, as per guidelines issued by SEBI. This disclosure includes information like the reason for raising the money, the way money is proposed to be sent, the return expected on the money etc. This information is in the form of “ PROSPECTUS” which also includes information regarding the size of the issue, the current status of the company, its equity capital , its current & past performance, the promoters, the project, cost of the project, means of financing, product and capacity etc. This helps investors to evaluate term and long term prospectus of the company.

Lock – in Period :
For any issue of capital to the public, the minimum promoter’s contribution is locked in for a period of 3 years. If the promoter’s contribution exceeds the required minimum contribution, such excess is locked in for a period of 1 year. Securities allotted on the firm allotted basis are also locked in for a period of 1 year.

Promoter :
The promoter has been defined as a person or persons who are in over-all control of the company, who are instrumental in the formulation of a plan or programmed pursuant to which the securities are offered to the public and those named in the prospectus as promoters(s).

Who is eligible for reservation?
In a book built issue allocation to Retail Individual Investors (RIIs), Non Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs).

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Retail Investor :
‘Retail individual investor’ means an investor who applies or bids for securities of or for a value of not more than Rs.1, 00,000.

Non Institutional Investors & Qualified Institutional Buyers :
It means an investor who applies of bid for securities of or for a value of more than Rs. 1, 00,000.

How many days is the issue open?
Subscription list for public issues shall be kept open for at least 3 working days and not more than 10 working days. In case of Book built issues, the minimum and maximum period for which bidding will be open is 3-7 working days by 3 days in case of a revision in the price band.

Change or Revise bid :
The investor can change or revise the quantity or price in the bid using the form for changing/revising the bid that is available along with the application form. However, the entire process of changing of revising the bids shall be completed within the date of closure of the issue.

How long will it take after the issue for the shares to get listed ?
The listing on the stock exchanges is done within 7 days from the finalization of the issue. Ideally, it would be around 3 weeks after the closure of the book built issue. In case of fixed price issue, it would be around 37 days after closure of the issue.

Intermediaries :
Merchant Bankers to the issue or Book Running Lead Managers (BRLM), syndicate members, Registrars to the issue, Bankers

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to the issue, Auditors of the company, Underwriters to the issue, Solicitors, etc. are the intermediaries to an issue. The issuer discloses the

addresses, telephone/fax numbers and email addresses of these intermediaries. In addition to this, the issuer also discloses the details of the compliance officer appointed by the company for the purpose of the issue.

Role of a Registrar :
The Registrar finalizes the list of eligible allottees after deleting the invalid applications and ensures that the corporate action for crediting of shares to the demat accounts of the applicants is done and the dispatch of refund orders to those applicable are sent. The Lead manager coordinates with the Registrar to ensure follow up so that that the flow of applications from collecting bank branches, processing of the applications and other matters till the basis of allotment is finalized, dispatch security certificates and refund orders completed and securities listed.

Role of Bankers :
Bankers to the issue, as the name suggests, carries out all the activities of ensuring that the funds are collected and transferred to the Escrow accounts. The Lead Merchant Banker shall ensure that Bankers to the Issue are appointed in all the mandatory collection centers as specified in DIP Guidelines. The LM also ensures follow-up with bankers to the issue to get quick estimates of collection and advising the issuer about closure of the issue, based on the correct figures.

E-IPO/FPO :
A company proposing to issue capital to public through the online system of the stock exchange for offer of securities can do so if it complies with the by requirements. issuer The a appointment prerequisite of various such intermediaries the includes that

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members/registrars have the required facilities to accommodate such an online issue process.

TERMINOLOGY.
Earning Per Share (EPS) :
EPS plays major role in investment decision. EPS is calculated by taking the net earnings if the companies and dividing it by the outstanding shares. That is EPS = NPAT – Pref. Shares Dividend -------------------------------------------------No. of Equity Shares.

Example: If company A had earnings of Rs. 1000 crores and 100 shares outstanding, then its EPS becomes 10 (Rs. 1000/100 = 10). You should go buy company A with an EPS of Rs. 10. But it’s again not advisable to make your investment decision based on only single tool analysis.

Price Earnings Ratio ( P/E ratio) :
P/E Ratio is again one of the most important ratio on which most of the traders and investors keep watch. The P/E Ratio tells you whether the stock’s price is high or low relative to its earnings. The high P/E suggests that investors are expecting higher earnings growth in the future compared to companies with a lower P/E. But, the P/E Ratio doesn’t tell us the whole story of the company. That is P/E Ratio = Market Price per share ---------------------------------EPS

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Example : A company with a share of Rs. 40 and an EPS of 8 would have a P/E Ratio of 5 (Rs. 40/8 = 5). The P/E Ratio gives an idea of what the market is willing to pay for the companies earning. The higher the P/E the more the market is .

willing to pay for the companies earning. Some investors say that a High P/E Ratio means the stock is over priced on the other side it also indicate the market has high hopes for such company future growth and due to which market is ready to pay high price. On the other side, a low P/E of high growth stocks may indicate that the market has ignored these stocks which are also known as value stocks. Many investors try to finding low P/E Ratio stocks of high value growth companies and make investments in such stocks which may prove real diamonds in future.

Profitability Ratio :
Profitability and management efficiency of a firm is judged mainly by the following profitability ratio: Net Profit Ratio (%) = Net Profit --------------- X 100 Net Sales

Market Capitalization :
The market value of a Quoted company, which is calculated by multiplying its current share price (market price) by the no. of shares in issue, is called as market capitalization. Example : Company A has 120 million shares in issue. The current market price is Rs. 100. The market capitalization of co. A is Rs. 12000 million. Market Capitalization = Market Price of Share X No.of Equity Share.

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TOP 10 IPOs/FPOs OF YEAR 2007

Sr. No.

Name of IPOs/FPOs

Issue Price

Market Price on Dated 11/01/08

Profit/ Loss 11/01/08

High 11/01/08

Low 11/01/08

Face Value

1

2

3 4 5

Orbit Corporation Ltd. Everonn Systems India Ltd. MIC Electronics Ltd. Allied Digital Services Ltd. Gremarch Infrastructure Global Broadcast News. Pyramid Saimira Theatre. Allied Computers International Religare Enterprices Ltd. Vishal Retail Ltd.

110

920.5

736.82%

933.0

880.0

10

140

1010.55

621.82%

1050.0

991.8

10

150 190 86

881.5 959.55 398.5

487.67% 405.03% 363.37%

895.0 1010.1 421.95

798.0 959.55 398.5

10 10 10

6

250

1141.55

356.62%

1180.0

1125.0

10

7

100

451.45

351.45%

479.9

444.0

10

8

12

45.15

276.25%

50.0

45.0

10

9

185

642.35

247.22%

657.7

632.0

10

10

270

915.9

239.22%

940.0

874.0

10

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TOP PERFORMING IPOs/FPOs ISSUE INFORMATIONS

Sr. No.

Name of IPOs/FPOs

Listing Date

Issue Open

Issue Close

Price Band

Issue Size

1 2 3 4 5 6 7 8 9 10

Orbit Corporation Ltd. Everonn Systems India Ltd. MIC Electronics Ltd. Allied Digital Services Ltd. Gremarch Infrastructure Global Broadcast News. Pyramid Saimira Theatre. Allied Computers International

12/04/2007 1/08/2007 30/05/2007 25/07/2007 11/04/2007 8/02/2007 5/01/2007 23/11/2007

20/03/07 5/07/07 30/04/07 2/07/07 8/03/07 15/01/07 11/12/06 19/10/07 29/10/07 11/06/07

23/03/07 108 - 117 11/07/07 8/05/07 5/07/07 19/03/07 18/01/07 18/12/06 23/10/07 1/11/07 13/6/07 125-140 129-150 170-190 72-86 230-250 88-100 12 160-185 230-270

9,10,00,000 5,00,00,000 5,10,00,000 4,52,24,350 5,90,00,000 10,50,00,000 8,44,40,000 5,00,00,000 7,57,61,020 11,00,00,000

Religare 21/11/2007 Enterprices Ltd. Vishal Retail Ltd. 4/07/2007

25

Match Your Dreams. With Our Vision

TOP PERFORMING IPOs/FPOs ISSUE INFORMATIONS

26

Match Your Dreams. With Our Vision

Sr. No.

Name of IPOs/FPOs

Market Lot

Listing @

Lead Manager

Registrar

1 2 3 4 5 6

Orbit Corporation Limited. Everonn Systems India Limited. MIC Electronics Limited. Allied digital Services Limited. Grmarch Infrastructure. Global Broadcast News. Pyramid Saimira Theatre. Allied Computer International Ltd. Religare Enterprises Limited. Vishal Retail Limited.

50 Shares

BSE & NSE BSE & NSE BSE & NSE BSE & NSE BSE & NSE BSE & NSE BSE & NSE

Edelweiss Capital Ltd. Centrum Capital Ltd Edelweiss Capital Ltd. Anand Rathi Securities Ltd. RR Financial Consultants Ltd. ICICI & Kotak Mahindra Ltd. Canara Bank & Keynote Corporate Services Ltd. CIL Securities Ltd. ENAM Financial Consultants Pvt.Ltd & Citigroup Global Market India Pvt. Ltd. ENAM Financial Consultants Pvt.Ltd.

Intime Spectrum Registry Ltd. Cameo Corporates Services Ltd. Intime Spectrum Registry Ltd. Intime Spectrum Registry Ltd. Intime Spectrum Registry Ltd. Intime Spectrum Registry Ltd. Cameo Corporates Services Ltd.

50 Shares 45 Shares 35 Shares 70 Shares 25 Shares

7

60 Shares

8

12 Shares

BSE

Bigshare Services Pvt. Ltd.

9

35 Shares

BSE & NSE

Karvy Comutershare Pvt. Ltd. Intime Spectrum Registry Ltd.

10

25 Shares

BSE & NSE

* INTRODUCTION ABOUT COMPANY. *

27

Match Your Dreams. With Our Vision

1). ORBIT CORPORATION LTD.:Orbit Corporation Limited is a Mumbai based real estate construction and development company with primary focus on redevelopment of existing properties. Orbit specializes in developing, designing and managing “Build to suit” high-end residential and commercial properties. Orbit Corporation Limited also engages in real estate activities through Orbit Constructions & Realtors Private Limited, Orbit Buildcon & Realty Private Limited and Orbit Housing Private Limited. The director of the company is

Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges and to raise capital to 1. Advances towards acquisition cost of new projects that we propose to develop/ redevelop. 2. Project development cost of the existing projects. 3. Investment in wholly owned subsidiaries.

MARKET CHART OF ORBIT CORPORATION LTD.

28

Match Your Dreams. With Our Vision

Price Data on Listing Day 12- 04- 2007 Open Price High Price Low Price Close Price Volume Rs. 113.00 Rs. 137.60 Rs. 110.15 Rs. 128.20 14577737 Price Data As On 11-01-2008 Open Price High Price Low Price Close Price Volume Rs. 930.00 Rs. 933.00 Rs. 880.00 Rs. 920.50 85216

Market Chart of Scrip :

1200 1000

O rbit C orporatio n Ltd.

Value (Rs.)

800 600 400 200 0
Ap r -0 7 M ay -0 7 Ju n07 Ju l-0 7 Au g07 Se p07 Oc t -0 7 No v07 De c07 Ja n08

M o n th s

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly)

29

Match Your Dreams. With Our Vision Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Months Jun-2007 Sep-2007 Dec-2007 Value (Rs.) 2.86 3.29 3.8 5.41 P/E Ratio 82.89 137.63 173.75

P/E Ratio Information (Quarterly)

Note: (March-2007 Data is not available because, it is listed on 12/04/2007) Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 30.89 45.19 13.11 72.56

Net Profit Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 7.77 11.93 1.85 19.62

Profitability =

Net Profit ----------------Net Sales 19.62 ---------72.56

X 100

=

X 100

=

27.04 %

Market Capitalization = 3338.65 Rs. in Cr.

ORBIT CORPORATIOM LTD.

30

Match Your Dreams. With Our Vision
EP S C H AR T
6 5 VALUE IN (RS.) 4 3 2 1 0 M a r-07 Jun-07 Se p-07 De c-07 M ONTHS 2.86 3.29
VALUE

P/E R ATIO C HAR T
5.41
180 160 140 120 100 80 60 40 20 0

173.75 137.63 82.89

3.80

J un-07

Se p-07 MONTHS

Dec-07

NET SALES CH ART
80 70 RS. IN CRORES 50 40 30 20 10 0 M a r-07 Jun-07 Se p-07 De c-07 M ONTHS RS.IN CRORES 60

NET PROFIT CHART
20 18 16 14 12 10 8 6 4 2 0

72.56

19.62

45.19 30.89 13.11

11.93 7.77 1.85
M a r-07 Jun-07 S e p-07 De c-07
MONTHS

From the above charts of EPS and P/E Ratio it can be seen that the EPS as well as the P/E Ratio is showing an increasing trend continuously. The Profitability of the company is 27.04% and the EPS is Rs. 5.41. the P/E Ratio is 173.75. So, by seeing the Profitability of the company the investment can be done. The increasing P/E Ratio also states that the it will give good returns in the future if the investment is done in this company.

31

Match Your Dreams. With Our Vision

2). EVERONN SYSTEMS INDIA LIMITED :Everonn Systems India Limited is Knowledge Management, Education and Training Company. Everonn provides its services in Creating Educational and Training Content, Designing and executing large learning initiatives and setting up the needed infrastructure for learning and training. Everonn has Virtual and Interactive Learning classroom networks across India. Everonn does business through 2 strong Business Units, Institutional Education and Infrastructure Services (IE & IS) and Virtual and Technology Enabled Learning Solutions (ViTELS).

Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital for, 1. Capital expenditure for Institutional Education and IT infrastructure Services, 2. Capital expenditure for Virtual and Tech Enabled learning solutions, 3. Working Capital Requirements, 4. Brand Building exercise for the Company, 5. Funding the proposed Mergers & Acquisitions activity, and 6. To invest in the proposed Subsidiary to Retail Educational aids, tools and other products.

32

Match Your Dreams. With Our Vision

MARKET CHART OF EVERONN SYSTEMS INDIA LTD.
Price Data on Listing Day 01- 08- 2007 Open Price High Price Low Price Close Price Volume Rs. 245.00 Rs. 560.00 Rs. 245.00 Rs. 478.45 7177641

Price Data As On 11- 01- 2008 Open Price High Price Low Price Close Price Volume Rs. 1037.00 Rs. 1050.00 Rs. 991.80 Rs. 1010.55 325669

Market Chart of Scrip :

Everonn systems India Ltd.
1,400.00 1,200.00 1,000.00 800.00 600.00 400.00 200.00 0.00
Au g07 Au g07 Au g07 Se p07 Se p07 O ct -0 7 O ct -0 7 No v07 No v07 De c07 De c07 Ja n08

Value ( Rs.)

Months

FINANCIAL HIGHLIGHTS
33

Match Your Dreams. With Our Vision

EPS information: (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs.) 3.97 0.44 1.87 2.92

P/E Ratio Information (Quarterly)
Months Sep-2007 Dec-2007 P/E Ratio 354.17 378.37

Note: (March-2007 & June-2007 Data is not available because, it is listed on
1/08/2007)

Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value ( Rs. in Cr.) 14.35 8.86 22.74 29.14

Net Profit Information

(Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 4.08 0.61 2.59 4.05

Profitability =

Net Profit ----------------Net Sales 4.05 ---------29.14

X 100

=

X 100

=

13.90 %

Market Capitalization = 1399.61 Rs. in Cr.

EVERONN SYSTEMS INDIA LTD.

34

Match Your Dreams. With Our Vision
4 3.5 VALUE IN (RS.) 3 2 1.5 1 0.5 0 Ma r-07 Jun-07 Se p-07 De c-07 MONTHS VALUE 2.5

3.97

EPS CH ART
2.92 1.87
380 375 370 365 360 355 350 345 340

P/E RATIO CHART
378.37

354.17

0.44

Sep-07

De c-07

MONTHS

N E T S AL E S C H AR T
30 25

29.14
4.5 4 3.5 3 2.5 2 1.5 1 0.5 0

N ET PR OFIT C H AR T
4.08 2.59 4.05

22.74 14.35 8.86
RS. IN CRORES

RS. IN CRORES

20 15 10 5 0

0.61

M a r-07 J u n -07Se p -0 7D e c -0 7 M O N THS

Ma r-07 Jun-07 Se p-07 De c-07 M ONTHS

The Profitability of this company is 13.90 % and the EPS is Rs. 2.92, the P/E Ratio is 378.37. Though all the charts are showing decreasing price in the month of June but after June it is continuously increasing which is good for the investors to invest.

35

Match Your Dreams. With Our Vision

3). MIC ELECTRONICS LIMITED :
Incorporated in 1988, MIC Electronics Limited is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software. Business Lines MIC's business is divided broadly into three parts: • Media Group, primarily responsible for the development,

production and sales of video displays, text, and graphic animation displays and display services including lease/rental of LED video walls etc. • InfoTech Group provides telecom software solutions in areas of Telecom Network Management, Telecom Switch Access and Computer Telephony domains. Objects of the Issue: 1. Setting up additional facility for manufacture of LED Video Modules at Cherlapally, Hyderabad and Roorkee; 2. Investment in LED video display systems to be used for rental/leasing business; 3. Investment on Design & Development of 3D Stereoscopic Displays; & Market Development – Domestic & Overseas;

36

Match Your Dreams. With Our Vision

MARKET CHART OF MIC ELECTRONICS LTD.
Price Data on Listing Day 30-05-2007 Open Price High Price Low Price Close Price Volume Rs. 210.25 Rs. 367.80 Rs. 210.25 Rs. 335.65 14524591 Price Data As On 11-01-2008 Open Price High Price Low Price Close Price Volume Rs. 851.00 Rs. 895.00 Rs. 798.00 Rs. 881.50 18585

Market Chart of Scrip :

M IC Electronics Ltd.
1200 1000 Value (Rs.) 800 600 400 200 0
M ay -0 Ju 7 n0 Ju 7 n0 Ju 7 l- 0 Ju 7 lAu 07 gAu 07 gSe 07 p0 Se 7 p0 O 7 ct -0 O 7 ct -0 O 7 ct -0 No 7 vNo 07 vDe 07 c0 De 7 c0 Ja 7 n0 Ja 8 n08

Months

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly) 37

Match Your Dreams. With Our Vision Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs.) 3.61 8.98 4.89 6.81

P/E Ratio Information (Quarterly)
Months Jun-2007 Sep-2007 Dec-2007 P/E Ratio 41.96 108.10 147.28

Note: (March-2007 Data is not

available because, it is listed on 30/05/2007)

Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 59.47 114.45 75.43 78.24

Net Profit Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 3.23 18.08 9.84 13.70

Profitability =

Net Profit ----------------Net Sales 13.70 ---------78.24

X 100

=

X 100

=

17.51 %

Market Capitalization = 1774.46 Rs. in Cr.

MIC ELECTRONICS LTD.

38

Match Your Dreams. With Our Vision
E PS C H AR T
8.98
9 8 7 6 5 4 3 2 1 0

P/E R ATIO C H AR T
6.81
VALUE 160 140 120 100 80 60 40 20 0

147.28 108.1

VALUE IN (RS.)

3.61

4.89

41.96

Ma r-07 Jun-07 Se p-07 De c-07 MONTHS

Jun-07

Se p-07 MONTHS

De c-07

NET SALES CHART
120 100 RS. IN CRORES 80 60 40 20 0 Mar-07 Jun-07 Sep-07 De c-07 MONTHS

N ET PR OFIT C H ART
78.24
RS. IN CRORES 20 18 16 14 12 10 8 6 4 2 0

114.45 75.43 59.47

18.08 13.7 9.84 3.23

Ma r-07 Jun-07 Se p-07 Dec-07 MONTHS

The Profitability of this company is 17.51 % and the EPS is Rs. 6.81. The P/E Ratio is 147.28; According to the ranks given it stands 5th which can be considered as moderate. The investment here can be done on the basis of EPS which is much higher or attractive for the investment.

39

Match Your Dreams. With Our Vision

4). ALLIED DIGITAL SERVICE :
Incorporated in 1995, Allied Digital Services Limited IT Infrastructure management and Technical Support Services outsourcing Company. ADSL deliver strategic, personalized, full-service Technical Support services solutions to its global, large and medium enterprises and service providers. Allied Digital has its unique direct presence at 92 locations in 25 states catering to more than 450 cities countrywide through its human resource of more than 1050 personnel. Its offerings address various business verticals – BFSI, Telecom, Retail, Aviation, Manufacturing, Energy, e-Governance and Hospitality to name a few. Company was awarded 'Most Comprehensive Solutions Provider' by Data Quest (DQ) this year. Objects of the Issue: The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital for 1. 2. 3. 4. Setting up of a new Corporate Office, Upgradation and Expansion of Existing

Infrastructure, Setting up of new Strategic Business Units, Financing Working Capital Requirements.

40

Match Your Dreams. With Our Vision

MARKET CHART OF ALLIED DIGITAL SERVICES LTD.
Price Data on Listing Day 25- 07- 2007 Open Price High Price Low Price Close Price Volume Rs. 332.50 Rs. 370.50 Rs. 308.40 Rs. 330.15 11231528

Price Data As On 11-01-2008 Open Price High Price Low Price Close Price Volume Rs. 1010.10 Rs. 1010.10 Rs. 959.55 Rs. 959.55 35607

Market Chart of Scrip :

41

Match Your Dreams. With Our Vision
Allied Digital Services Ltd.
1200 1000

Value (Rs.)

800 600 400 200 0
Ju l-0 7 A ug -0 A 7 ug -0 7 Se p07 Se p07 O ct -0 7 O ct -0 7 O ct -0 7 N ov -0 N 7 ov -0 D 7 ec -0 D 7 ec -0 7 Ja n08

M onths

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs.) 6.05 7.09 5.89 10.18

P/E Ratio Information (Quarterly)
Months Sep-2007 Dec-2007 P/E Ratio 64.02 80.16

Note: (March-2007 & June-2007 Data is not available because, it is listed on
25/07/2007)

Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 52.01 65.15 70.81 79.29

Net Profit Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 7.64 9.05 10.18 12.10

42

Match Your Dreams. With Our Vision

Profitability =

Net Profit ----------------Net Sales 12.10 ---------79.29

X 100

=

X 100

=

15.26 %

Market Capitalization = 1659.06 Rs. in Cr.

ALLIED DIGITAL SERVICES LTD.
EP S C H AR T
12 10 VALUE IN (RS.) 8 6 4 2 0 M a r-07 Jun -07 S e p-07 De c-07 M O NTHS

P /E R ATIO C H AR T
10.18
80.16
90 80 70 60 50 40 30 20 10 0

64.02

6.05

7.09

VALUE

5.89

Se p-07

De c-07

M ONTHS

NET SALES CH ART
80 70 RS. IN CRORES 60 50 40 30 20 10 0

65.15 52.01

70.81

79.29

N ET PR OFIT C H AR T
15

10.18
RS. IN CRORES
10

12.1

7.64

9.05

5

0

Ma r-07 Jun-07 Sep-07 De c-07 MONTHS

M a r-07 Jun-07 Se p -07 De c-07 M ONTHS

43

Match Your Dreams. With Our Vision

The Profitability of this company is 15.26 % and the EPS is Rs. 10.18 which is the highest among the top 10 companies. The Price Earning Ratio is 80.16 which can be considered as less risky for the investors to invest.

5). GREMARCH INFRASTRUCTURE :
Gremach Infrastructure Equipments & Projects Limited is in the business of providing rental of construction /earthmoving machineries to medium / large construction companies who are engaged in the business of constructing/building of roads, airports, power projects, institutional & industrial complexes, multiplexes and residential buildings and other related infrastructural activities chiefly catering to Public Sector undertakings, private sector, and various national & international government aided projects. In addition to renting Gremach owned equipments, Gremach also hire equipments owned by other parties and rent to our own clients. In the past over 65% of Gremach total rental incomes are derived from equipments, which are exclusively owned by third parties. Objects of the Issue: The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges and to raise capital to Acquire Ports, Mining and other Road Construction Equipments.

44

Match Your Dreams. With Our Vision

MARKET CHART OF Gremarch Infrastructure Ltd.
Price Data on Listing Day 11-04 -2007 Open Price High Price Low Price Close Price Volume Rs. 92.00 Rs. 100.00 Rs. 80.70 Rs. 88.95 10344625 Price Data As On 11-01-2008 Open Price High Price Low Price Close Price Volume Rs. 420.00 Rs. 421.95 Rs. 398.50 Rs. 398.50 42556

Market Chart of Scrip :

45

Match Your Dreams. With Our Vision
Gremarch Infrastructure
600 500

Value (Rs.)

400 300 200 100 0
M ay -0 7 Ju l-0 7 ug -0 7 Ju n07 Se p07 O ct -0 7 ov -0 7 pr -0 7 ec -0 7 D Ja n08

A

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly)
Months
Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs.) 4.97 2.66 6.01 6.16

P/E Ratio Information (Quarterly)
Months Jun-2007 Sep-2007 Dec-2007 P/E Ratio 71.88 44.68 57.02

Note: (March-2007 Data is not available because, it is listed on 11/04/2007) Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 30.21 34.74 54.33 55.16

Net Profit Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Value (Rs. in Cr.) 4.16 4.06 9.14

A

Months

N

46

Match Your Dreams. With Our Vision Dec-2007 9.38

Profitability =

Net Profit ----------------Net Sales 9.38 ---------55.16

X 100

=

X 100

=

17.00 %

Market Capitalization = 606.517 Rs. in Cr.

GREMARCH INFRASTRUCTURE LTD.
E P S C H AR T
7 6 VALUE IN (RS.) 5 3 2 1 0 Ma r-07 Jun-07 S e p-07 De c-07 M ONTHS 4

P/E R ATIO C H AR T
6.16
80 70 60

6.01 4.97

71.88 57.02 44.68

2.66

VALUE

50 40 30 20 10 0

Jun-07

Se p-07 MONTHS

Dec-07

N E T SALES C H AR T
60 50 RS. IN CRORES 40 30 20 10 0 Ma r-07 Jun-07 S e p-07 De c-07 MO NTHS

N ET P ROFIT C HART 10 8
RS. IN CRORES

54.33

55.16

9.14

9.38

30.21

34.74

6 4 2 0

4.16

4.06

Ma r-07 Jun-07 Se p-07 De c-07 MONTHS

47

Match Your Dreams. With Our Vision

The Profitability of this company is 17.00 % and the EPS is Rs. 6.16. The P/E Ratio is 57.02, this P/E Ratio states that the investment can be done in the company means it posses the least risk for the investment.

6). GLOBAL BROADCAST NEWS:
Global Broadcast News Limited (GBN) operates one of India’s leading 24-hour English language news and current affairs channel, ‘CNN-IBN’. CNN-IBN was launched in December, 2005 and has consistently been ranked as India’s No. 2 English language news channel. Global Broadcast News Limited has also share subscription cum shareholders agreement with the Gupta family, BK Fincap Private Limited and others and has acquired significant equity shareholding in BK Fincap Private Limited which is the holding company of Jagran TV Private Limited, which owns Channel 7, a 24-hour Hindi language news and current affairs channel. GBN is also part of the TV 18 group, which owns and operates some of India’s leading business channels and internet portals such as CNBC-TV18, Awaaz, South Asia World, www.moneycontrol.com and www.commoditiescontrol.com, etc. Objects of the Issue: 48

Match Your Dreams. With Our Vision

The Company intends to use the Net Proceeds for the following purposes: 1. Further investment for expansion into Hindi news genre; 2. Repayment of a loan of our company; 3. General corporate purposes; and 4. Avail of the benefits of listing of our Equity Shares on the Stock Exchanges.

MARKET CHART OF Global Broadcast News Ltd.
Price Data on Listing Day 08- 02- 2007 Open Price High Price Low Price Close Price Volume Rs. 417.10 Rs. 524.00 Rs. 381.25 Rs. 510.10 13080245.

Price Data As On 11- 01- 2008 Open Price High Price Low Price Close Price Volume Rs. 1169.00 Rs. 1180.00 Rs. 1125.00 Rs. 1141.55 2990.

Market Chart of Scrip :

49

Match Your Dreams. With Our Vision
Global Broadcast News
1400 1200

Value ( Rs.)

1000 800 600 400 200 0
Fe b0 M 7 ar -0 7 Ap r07 M ay -0 7 Ju n07 Ju l-0 Au 7 g07 S ep -0 7 O ct -0 N 7 ov -0 De 7 c07 Ja n08

Months

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs.) 1.04 - 1.31 - 2.38 - 3.1

P/E Ratio Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 P/E Ratio 514.13 - 688.66 - 401.32 - 378.06

Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 27.98 22.00 25.57 23.50

Net Profit Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 2.78 - 3.51 - 6.36 - 8.29

50

Match Your Dreams. With Our Vision

Profitability =

Net Profit ----------------Net Sales - 8.29 ---------23.50

X 100

=

X 100

=

- 35.28 %

Market Capitalization = 3051.36 Rs. in Cr.

GLOBAL BROADCAST NEWS.
EPS CH ART
1.5 1 0.5 0 -0.5 -1 -1.5 -2 -2.5 -3 -3.5

P/E RATIO CH AR T
600 400 200 VALUE 0 -200 -400 -600 -800

1.04

514.13

VALUR IN (RS.)

-1.31 -2.38 -3.1

-401.32 -688.66

-378.06

M a r-07 Jun-07 Se p-07 De c-07 M ONTHS

Ma r-07 Jun-07 Se p-07 De c-07 MONTHS

N E T SALES C H AR T
30 25 RS. IN CRORES 20 15 10 5 0 Ma r-07 Jun-07 S e p-07 De c-07 MONTHS

N ET PROFIT CH ART
23.5
RS. IN CRORES 4 2 0 -2 -4 -6 -8 -10

27.98 22.00

25.57

2.78

-3.51 -6.36 -8.29

M a r-07 Jun-07 S e p-07 De c-07 M ONTHS

51

Match Your Dreams. With Our Vision

The Profitability of this company is -35.28 % and the EPS is Rs. -3.1. The P/E Ratio is -378.06. From the above information it can be concluded that it is not advisable to invest in this because all the three that is the P/E Ratio , EPS as well as the Profitability is in negative. So, it proves to be very risky to do such investment.

7). PYRAMID SAIMIRA THEATRE LTD :
Pyramid Saimira Theatre Limited (PSTL) is currently India’s largest Theatre Chain Company, operating over 136 screens. PSTL is also involved in file production and have produced around 10 films. PSTL’s Digital theatres also function as delivery medium for other entertainment content, as well as educational centers including video conferencing, virtual class rooms etc. One can see Cricket match live, have refresher course, say medical entrance exam in these theatres. Objects of the Issue: 1. To create a theater chain having a tie up with theaters

and multiplexes on long lease and invest in infrastructure upgradation of the theatres. 2. To convert theaters in to digital exhibition system by installing Digital Projectors, Servers, VSAT terminals and such other audio & video equipments as needed. 3. To invest in a central network operating system control center which will enable Service Provisioning for and including Convert Conversion, Transmission, Rights management,

52

Match Your Dreams. With Our Vision

Theater management & Networked collection / revenue management.

MARKET CHART OF Pyramid Saimira Theatre Ltd.
Price Data on Listing Day 05- 01- 2007 Open Price High Price Low Price Close Price Volume Rs. 135.00 Rs. 163.85 Rs. 125.00 Rs. 158.20 16969613

Price Data As On 11- 01- 2008 Open Price High Price Low Price Close Price Volume Rs. 475.00 Rs. 479.90 Rs. 444.00 Rs. 451.45 55480

Market Chart of Scrip :

53

Match Your Dreams. With Our Vision
600 500

Pyramid Saimira T heatre

Value ( Rs.)

400 300 200 100 0
Ja n0 Fe 7 b0 M 7 ar -0 Ap 7 rM 07 ay -0 Ju 7 n07 Ju l-0 Au 7 g0 Se 7 p07 O ct -0 No 7 v0 De 7 c07 Ja n08

M onths

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs.) 2.06 5.66 5.34 3.55

P/E Ratio Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 P/E Ratio 120.95 59.59 64.98 141.21

Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 67.57 122.71 144.19 231.42

Net Profit Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 5.84 16.01 15.11 29.87

Profitability =

Net Profit -----------------

X 100

54

Match Your Dreams. With Our Vision

Net Sales = 29.87 ------------231.42 X 100

=

12.91 %

Market Capitalization = 1276.70 Rs. in Cr.

55

Match Your Dreams. With Our Vision

PYRAMID SAIMIRA THEATRE
EPS CHART
6 5

P/E RATIO C H ART
160 140
3.55

5.66

5.34

130.95

141.21

VALUE IN (RS.)

120 VALUE 100 80 60 40 20 0

4 3 2 1 0

2.06

59.59 64.98

`

Mar-07 Jun-07 Sep-07 Dec-07 MONTHS

M a r-07 Jun-07 S e p-07 De c-07 M ONTHS

N E T SALES C H AR T
250 200 RS. IN CRORES 150 100 50 0 M a r-07 Jun-07 S e p-07 De c-07 M ONTHS

NET PR OFIT CH AR T
30 25 RS. IN CRORES 20 15 10 5 0 Ma r-07 Jun-07 Se p-07 De c-07 M ONTHS

231.42 144.19 122.71 67.57

29.87

16.01 15.11 5.84

The Profitability of this company is 29.12 % and the EPS is Rs. 3.55. Also the P/E Ratio of the company is 141.21. So, by looking at the Profitability as well as the P/E Ratio and the EPS it can be stated that the company will not given higher returns but moderate returns will be given by the company.

56

Match Your Dreams. With Our Vision

8). ALLIED COMPUTERS INTERNATIONAL LTD

:

Incorporated in 2002, Allied Computers International (Asia) Ltd is in the business of assembling and marketing of laptop computers. ACi undertakes services and maintenance contracts for all brands of laptop computers. ACi has two divisions: assembling of laptop/notebook computers, and chip level repairs of motherboard, screen, digital versatile disc (DVD) and hardware of all brands of laptops. In addition, ACi has a software division that is developing software related to hardware used to perform reverse engineering and fault diagnosis of populated printed circuit boards (PCBs), together with explorations of security-enhanced applications by use of biometric technology. Objects of the Issue: The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital 1. To Set up Global Laptop, TFT and other equipment Service Centre at

Vasai, Dist. Thane, Mumbai.

57

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MARKET CHART OF Allied Computer International Ltd.
Price Data on Listing Day 23 -11- 2007 Open Price High Price Low Price Close Price Volume Rs. 21.00 Rs. 41.25 Rs. 21.00 Rs. 37.70 27422665

Price Data As On 11- 01- 2008 Open Price High Price Low Price Close Price Volume Rs. 49.00 Rs. 50.00 Rs. 45.00 Rs. 45.15 314588

Market Chart of Scrip :
Allied Computers International Ltd.
80 70 60 50 40 30 20 10 0
07 07 07 07 07 07 08 ov ov Ja nJa nec ec ec ec 08

Value ( Rs.)
N

N

D

D

D

Months

Note: Financial Data is not Available.
58

D

Match Your Dreams. With Our Vision

9). RELIGARE ENTERPRISES LTD :
Religare Enterprises Limited is Ranbaxy Laboratories Limited promoted financial product and service provider company.Religare provide its service in three different segments including Retail, Wealth management and the Institutional spectrum. It offers wide range of services including equities, commodities, insurance broking, wealth advisory, portfolio management services, personal finance services, Investment banking and institutional broking services. Religare’s retail network spreads across more than 900 locations across more than 300 cities and towns in India.Religare businesses are operated through its 10 subsidiaries. Religare major business includes:
• •

Religare Securities Limited (RSL) - Stock Broker. Religare Finance Limited (RFL) - Involve in personal credit (such as

loans against shares (LAS), and personal loans), distribution of mutual funds, wealth management, IPO financing, and corporate finance services.
• •

Religare Commodities Limited (RCL) - Commodity Broker. Religare Insurance Broking Limited (RIBL)-Insurance broker to

distribute products and services of life insurance companies, non life insurance companies and re-insurance businesses.

People who wonder where Religare word came from, it's a Latin word

meaning 'to bind together'. Objects of the Issue: The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital 1. 2. To expand domestic operations and network of branches; To fund retail finance business and to expand financing

activity. 59

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MARKET CHART OF Reliagare Enterprises Ltd.
Price Data on Listing Day 21-11-2007 Open Price High Price Low Price Close Price Volume Rs. 323.75 Rs. 600.00 Rs. 323.75 Rs. 521.70 11198090 Price Data As On 11-01-2008 Open Price High Price Low Price Close Price Volume Rs. 654.00 Rs. 657.70 Rs. 632.00 Rs. 642.35 55480

Market Chart of Scrip :

Religare Enterprices Limited
800 700 600 500 400 300 200 100 0
ov -0 7 ov -0 7 ec -0 7 ec -0 7 ec -0 7 ec -0 7 -0 8 Ja n Ja n -0 8

Value ( Rs.)

N

N

D

D

D

Months

D

60

Match Your Dreams. With Our Vision

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly)
Months Dec-2007 Value (Rs.) 0.29

P/E Ratio Information (Quarterly)
Months Dec-2007 P/E Ratio 404.17

Note: (March-2007, Jun-2007& Sep-2007 Data is not available
because, it is listed on 21/11/2007)

Net Sales Information (Quarterly)
Months Dec-2007 Value (Rs. in Cr.) 5.19

Net Profit Information ( Quarterly)
Months Dec-2007 Value (Rs. in Cr.) 2.24

Profitability =

Net Profit ----------------Net Sales 2.24 ---------5.19

X 100

=

X 100

=

43.16 %

Market Capitalization = 4875.44 Rs. in Cr.

RELIAGARE ENTERPRISES LTD.
61

Match Your Dreams. With Our Vision
EP S C H AR T
0.29
0.3 VALUE IN (RS.) 0.25 0.2 0.15 0.1 0.05 0
DEC -07

P/E R ATIO
404.17
500 400 VALUE 300 200 100 0 De c-07 M ONT H

M ONTH

N ET S ALES C H AR T
5.19
6 4 3 2 1 0 DEC-07 MONTHS
RS. IN CRORES 2.5 2 1.5 1 0.5 0

NET PROFIT CHART
2.24

RS. IN CRORES

5

DEC-07 MONTHS

The above company has been listed in November 2007. So, not much data is available as well as nothing can be inferred from the above charts.

62

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10). VISHAL RETAIL LTD :
Incorporated in 1986, Vishal Retail Limited is among the leading retail houses in India based in Delhi. Vishal Retail has around 51 showrooms in 39 cities in India. Vishal stores offer affordable family fashion at prices to suit every pocket. Vishal Retail also has apparel manufacturing plant at Gurgaon. It has seven distribution centers and a fleet of trucks for transportation. Vishal Retail's total sales was Rs. 2,884.43 million for fiscal 2006, as opposed to a turnover of Rs. 1,463.12 million for fiscal 2005 and Rs. 881.04 million for fiscal 2004. During the same period our profit after tax was Rs. 124.74 million, Rs.30.20 million and Rs. 3.82 million, respectively. Its sales increased between fiscal 2004 and fiscal 2006 at a CAGR of 80.94% and profit after tax increased between fiscal 2004 and fiscal 2006 at a CAGR of 471.44%. Objects of the Issue: The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to 1. Meet the expenses of establishing new retail stores

MARKET CHART OF Vishal Retail Ltd.
63

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Price Data on Listing Day 04-07-2007 Open Price High Price Low Price Close Price Volume Rs. 472.50 Rs. 809.00 Rs. 423.25 Rs. 752.20 11417790 Price Data As On 11-01-2008 Open Price High Price Low Price Close Price Volume Rs. 880.00 Rs. 940.00 Rs. 874.00 Rs. 915.90 24618

Market Chart of Scrip :

Vishal Retail Ltd.
1200 1000

Value ( Rs.)

800 600 400 200 0
Ju l-0 Ju 7 l-0 Au 7 g0 Au 7 g0 Au 7 g0 Se 7 p07 Se p0 Oc 7 t-0 Oc 7 t-0 No 7 v0 No 7 v0 De 7 c07 De c0 Ja 7 n08

M onths

FINANCIAL HIGHLIGHTS
EPS information: (Quarterly)
Months Value ( Rs.)

64

Match Your Dreams. With Our Vision Mar-2007 Jun-2007 Sep-2007 Dec-2007 13.63 13.52 6.58 6.95

P/E Ratio Information (Quarterly)
Months Sep-2007 Dec-2007 P/E Ratio 106.39 140.72

Note: (March-2007& Jun-2007 Data is not available because, it is listed On 04/07/2007) Net Sales Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value ( Rs. in Cr.) 200.88 228.97 192.58 301.74

Net Profit Information (Quarterly)
Months Mar-2007 Jun-2007 Sep-2007 Dec-2007 Value (Rs. in Cr.) 25.07 20.25 14.73 15.56

Profitability =

Net Profit ----------------Net Sales 15.56 ---------301.74

X 100

=

X 100

=

5.16 %

Market Capitalization = 2051.6 Rs. in Cr.

VISHAL RETAIL LTD.

65

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EPS CHART
14 12 VALUE IN (RS.) 10 6 4 2 0 Ma r-07 Jun-07 Se p-07 De c-07 MONTHS
VALUE

P/E R ATIO C H ART
160 140 120 100 80 60 40 20 0

13.63 13.52
106.39

140.72

8

6.58

6.95

S e p-07

De c-07

MONTHS

N E T S AL E S C H AR T
350 300 RS. IN CRORES 250 200.88 200 150 100 50 0 M a r-07 Jun -07 S e p-07 De c-07 M O NT HS

N ET PR OFIT C H AR T
30 25 RS. IN CRORES

301.74 228.97 192.58

25.07 20.25 14.73 15.56

20 15 10 5 0

M a r-07 Jun-07 Se p-07 De c-07 MONTHS

The Profitability of this company is 5.61 % and the EPS is Rs. 6.95 which is the second highest among all the companies mentioned. The P/E Ratio is 140.72. So, from the above charts it is concluded that though the EPS has increased for the 2 Quarters but it has decreased in the last 2. Whereas the P/E Ratio is increasing which proves to be riskier for the investors.

Rank Given on the Basis of PROFITABILITY.

66

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Sr. No.
1 2 3 4 5 6 7 8 9 10

Top 10 IPOs
Religare Enterprises. Orbit Corporation Ltd. MIC Electronics Ltd. Gremarch Infrastructure Allied Digital Services Ltd. Everonn Systems India Ltd. Pyramid Saimira Theatre. Vishal Retail Ltd. Global Broadcast News. Allied Computer International

Profitability
43.16% 27.04% 17.51% 17.00% 15.26% 13.90% 12.91% 5.16% -35.28% -

Rank Given on the Basis of EPS Sr. No.
1 2 3 4 5 6 7 8 9 10

Top 10 IPOs
Allied Digital Services Ltd Vishal Retail Ltd. MIC Electronics Ltd. Gremarch Infrastructure Orbit Corporation Ltd. Pyramid Saimira Theatre. Everonn Systems India Ltd. Religare Enterprises. Global Broadcast News. Allied Computer International

EPS (Rs.)
10.18 6.95 6.81 6.16 5.41 3.55 2.92 0.29 - 3.1 -

Rank Given on the Basis of P\E RATIO Sr. No.
1 2 3 4 5 6 7 8 9 10

Top 10 IPOs
Gremarch Infrastructure Allied Digital Services Ltd Vishal Retail Ltd. Pyramid Saimira Theatre. MIC Electronics Ltd. Orbit Corporation Ltd. Everonn Systems India Ltd. Religare Enterprises. Global Broadcast News. Allied Computer International

P\E Ratio
57.02 80.16 140.72 141.21 147.28 173.75 378.37 404.17 -

RISK MEASUREMENT
BETA :
67

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A measure of the instability, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Also known as "beta coefficient". Beta is calculated using regression analysis, and you can think of beta as the tendency of a security's returns to respond to swings in the market. A beta of 1 indicates that the security's price will move with the market. A beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market. The formula of beta are as follow. β = n (∑xy) – (∑x) (∑y) ------------------------------n ( ∑x² ) – (∑x)²

ORBIT CORPORATION LTD.

68

Match Your Dreams. With Our Vision DATE BSE SENSEX BANCHMARK BSE PRICE OF ORBIT X Y XY


33.4597 0.16859 19.5017 6.88911 11.8629 20.3384 2.45228 12.5123 4.4851 1.47161 132.794 104.498 16.7204 0.07165 4.54297 11.8886 1.6354 7.09728 392.39 ∑X²

12-4-07 30-4-07 15-5-07 31-5-07 15-6-07 29-6-07 16-7-07 31-7-07 14-8-07 31-8-07 14-9-07 28-9-07 15-10-07 31-10-07 15-11-07 30-11-07 14-12-07 31-12-07 11-01-08

13,113.81 13,872.37 13,929.33 14,544.46 14,162.71 14,650.51 15,311.22 15,550.99 15,000.91 15,318.60 15,504.43 17,291.10 19,058.67 19,837.99 19,784.89 19,363.19 20,030.83 20,286.99 20,827.45

127.95 195 211.25 248.2 222.25 272.15 348.3 349.15 492.1 469.75 497.45 519.25 651.8 592 679.1 760.4 853.5 943.85 919.9

5.78444 0.4106 4.41608 -2.6247 3.44426 4.50981 1.56598 -3.5373 2.1178 1.2131 11.5236 10.2224 4.08906 -0.2677 -2.1314 3.44799 1.27883 2.66407 48.127 ∑X

52.4033 8.33333 17.4911 -10.455 22.4522 27.9809 0.24404 40.9423 -4.5418 5.89675 4.38235 25.5272 -9.1746 14.7128 11.9717 12.2436 10.5858 -2.5375 228.458 ∑Y

303.123 3.42167 77.2422 27.4421 77.3311 126.188 0.38216 -144.82 -9.6186 7.15335 50.5005 260.95 -37.515 -3.9382 -25.517 42.2156 13.5375 -6.76 761.315 ∑XY

2746.1 69.4444 305.939 109.313 504.101 782.93 0.05956 1676.27 20.6276 34.7717 19.205 651.638 84.1732 216.468 143.322 149.905 112.06 6.4388 7632.77 ∑Y²

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

0.67

Return of Orbit Corporation = 77.27 % NOTE: Return is calculated on the basis of first 15 days after listing.

EVERONN SYSTEMS INDIA LTD.
69

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF EVERONN.

X

Y

XY

01-08-07 14-08-07 31-08-07 14-09-07 28-09-07 15-10-07 31-10-07 15-11-07 30-11-07 14-12-07 31-12-07 11-01-08

14935.77 15,000.91 15,318.60 15,504.43 17,291.10 19,058.67 19,837.99 19,784.89 19,363.19 20,030.83 20,286.99 20,827.45

478.45 611.75 633.35 738.25 659.95 620.35 591.8 472 468.55 753.7 1103.4 1010.55

0.43613 2.1178 1.2131 11.5236 10.2224 4.08906 -0.2677 -2.1314 3.44799 1.27883 2.66407

27.8608 3.53085 16.5627 -10.606 -6.0005 -4.6022 -20.243 -0.7309 60.858 46.3978 -8.4149

12.151 7.47766 20.0922 -122.22 -61.339 -18.819 5.4185 1.55793 209.837 59.3348 -22.418

0.19021 4.4851 1.47161 132.794 104.498 16.7204 0.07165 4.54297 11.8886 1.6354 7.09728

776.22 12.467 274.32 112.49 36.005 21.181 409.79 0.5343 3703.7 2152.8 70.811 7570.3 ∑Y²

34.5939 104.612 91.0723 285.395 ∑X ∑X² ∑Y ∑XY

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

- 1.13

Return of Everonn Systems India Ltd. = 336.43 % NOTE: Return is calculated on the basis of first 15 days after listing.

MIC ELECTRONICS LTD.

70

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF MIC

X

Y

XY

30-05-07 15-06-07 29-06-07 13-07-07 31-07-07 14-08-07 31-08-07 14-09-07 28-09-07 15-10-07 31-10-07 14-11-07 28-11-07 14-12-07 31-12-07 11-01-08

14,411.38 14,162.71 14,650.51 15,272.72 15,550.99 15,000.91 15,318.60 15,504.43 17,291.10 19,058.67 19,837.99 19,929.06 18,938.87 20,030.83 20,286.99 20,827.45

335.65 376.1 376.8 392.65 379.3 410.4 437.55 547.65 534.65 530.8 554.9 523.05 600.8 820.15 1009.4 881.5

-1.7255 3.44426 4.24702 1.82201 -3.5373 2.1178 1.2131 11.5236 10.2224 4.08906 0.45907 -4.9686 5.76571 1.27883 2.66407 38.6156 ∑X

12.0512 0.18612 4.20648 -3.4 8.19931 6.6155 25.1628 -2.3738 -0.7201 4.54032 -5.7398 14.8647 36.5097 23.075 -12.671 110.507 ∑Y

-20.795 0.64105 17.865 -6.1948 -29.003 14.0103 30.525 -27.355 -7.3611 18.5656 -2.635 -73.857 210.504 29.509 -33.756 120.664 ∑XY

2.97739 11.8629 18.0372 3.31971 12.5123 4.4851 1.47161 132.794 104.498 16.7204 0.21074 24.6867 33.2434 1.6354 7.09728 375.552 ∑X²

145.232 0.03464 17.6944 11.5598 67.2288 43.7648 633.168 5.63483 0.51854 20.6145 32.945 220.96 1332.95 532.458 160.552 3225.32 ∑Y²

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

- 0.52

Return of MIC Electronics Ltd. = 150.73 % NOTE: Return is calculated on the basis of first 15 days after listing.

ALLIED DIGITAL SERVICES LTD.

71

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BSE SENSEX BANCHMARK BSE PRICE OF ALLIED DIGITAL

DATE

X

Y

XY

25-07-07 10-08-07 24-08-07 10-09-07 25-09-07 10-10-07 25-10-07 09-11-07 23-11-07 10-12-07 24-12-07 11-01-08

15,699.33 14,868.25 14,424.87 15,596.83 16,899.54 18,658.25 18,770.89 18,907.60 18,852.87 19,930.68 19,854.12 20,827.45

331.8 297.65 280.45 334.6 363.75 394.55 428.3 443.75 448.3 497.55 724.7 959.6

-5.2937 -2.9821 8.12458 8.3524 10.4069 0.6037 0.72831 -0.2895 5.71695 -0.3841 4.90241 29.8858 ∑X

-10.292 -5.7786 19.3083 8.71189 8.46735 8.55405 3.60728 1.02535 10.9859 45.6537 32.4134 122.656 ∑Y

54.4849 17.2321 156.871 72.7653 88.1185 5.16409 2.62722 -0.2968 62.8062 -17.537 158.904 601.14 ∑XY

28.0236 8.89268 66.0088 69.7626 108.303 0.36445 0.53043 0.08379 32.6836 0.14756 24.0336 338.834 ∑X²

105.93 33.392 372.81 75.897 71.696 73.172 13.013 1.0513 120.69 2084.3 1050.6 4002.5 ∑Y²

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

1.12

Return of Allied Digital Services Ltd.= 56.66 % NOTE: Return is calculated on the basis of first 15 days after listing.

GREMARCH INFRASTRUCTURE.

72

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF GREMARCH

X

Y

XY

11-04-07 25-04-07 11-05-07 25-05-07 11-06-07 25-06-07 10-07-07 25-07-07 10-08-07 24-08-07 10-09-07 25-09-07 10-10-07 25-10-07 09-11-07 23-11-07 10-12-07 24-12-07 11-01-08

13,183.24 14,217.77 13,796.16 14,338.45 14,083.41 14,487.72 15,009.88 15,699.33 14,868.25 14,424.87 15,596.83 16,899.54 18,658.25 18,770.89 18,907.60 18,852.87 19,930.68 19,854.12 20,827.45

83.95 150.2 137.35 138.3 146.7 186.25 176.8 177.05 176.1 172.4 195.25 266.6 282.75 266.5 301.1 299.75 344.2 339.15 398.5

7.84731 -2.9654 3.93073 -1.7787 2.87082 3.60416 4.59331 -5.2937 -2.9821 8.12458 8.3524 10.4069 0.6037 0.72831 -0.2895 5.71695 -0.3841 4.90241 47.9881 ∑X

78.916 -8.5553 0.69166 6.07375 26.9598 -5.0738 0.1414 -0.5366 -2.1011 13.2541 36.5429 6.05776 -5.7471 12.9831 -0.4484 14.829 -1.4672 17.4996 190.02 ∑Y

619.279 25.3695 2.71874 -10.803 77.3968 -18.287 0.64951 2.84046 6.26554 107.684 305.221 63.0423 -3.4695 9.45571 0.12978 84.7769 0.56359 85.7903 1358.62 ∑XY

61.5803 8.79344 15.4506 3.16382 8.24163 12.9899 21.0985 28.0236 8.89268 66.0088 69.7626 108.303 0.36445 0.53043 0.08379 32.6836 0.14756 24.0336 470.152 ∑X²

6227.7 73.192 0.4784 36.89 726.83 25.744 0.02 0.2879 4.4145 175.67 1335.4 36.697 33.029 168.56 0.201 219.9 2.1526 306.24 9373.4 ∑Y²

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

2.52

Return of Gremarch Infrastructure.= 74.65 % NOTE: Return is calculated on the basis of first 15 days after listing.

GLOBAL BROADCAST NEWS LTD.

73

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF GBN

X

Y

XY

08-02-07 23-02-07 09-03-07 23-03-07 11-04-07 25-04-07 11-05-07 25-05-07 11-06-07 25-06-07 10-07-07 25-07-07 10-08-07 24-08-07 10-09-07 25-09-07 10-10-07 25-10-07 09-11-07 23-11-07 10-12-07 24-12-07 11-01-08

14,652.09 13,632.53 12,884.99 13,285.93 13,183.24 14,217.77 13,796.16 14,338.45 14,083.41 14,487.72 15,009.88 15,699.33 14,868.25 14,424.87 15,596.83 16,899.54 18,658.25 18,770.89 18,907.60 18,852.87 19,930.68 19,854.12 20,827.45

510.1 630.8 501.05 549.9 575.65 563.45 672.3 896.15 906.1 936.3 915.15 867.15 894.9 801.7 914.05 973.45 914.15 876.05 904.25 901.3 949.1 958.25 1141.55

-6.9585 -5.4835 3.11168 -0.7729 7.84731 -2.9654 3.93073 -1.7787 2.87082 3.60416 4.59331 -5.2937 -2.9821 8.12458 8.3524 10.4069 0.6037 0.72831 -0.2895 5.71695 -0.3841 4.90241 ∑X

23.662 -20.569 9.74953 4.68267 -2.1193 19.3185 33.2961 1.11031 3.33297 -2.2589 -5.245 3.20014 -10.415 14.014 6.49855 -6.0917 -4.1678 3.21899 -0.3262 5.30345 0.96407 19.1286 ∑Y

-164.65 112.791 30.3374 -3.6193 -16.631 -57.287 130.878 -1.9749 9.56836 -8.1414 -24.092 -16.941 31.0569 113.858 54.2785 -63.396 -2.5161 2.34442 0.09443 30.3196 -0.3703 93.7763 ∑XY

48.4202 30.0688 9.68257 0.59741 61.5803 8.79344 15.4506 3.16382 8.24163 12.9899 21.0985 28.0236 8.89268 66.0088 69.7626 108.303 0.36445 0.53043 0.08379 32.6836 0.14756 24.0336 ∑X²

559.89 423.09 95.053 21.927 4.4916 373.2 1108.6 1.2328 11.109 5.1026 27.51 10.241 108.46 196.39 42.231 37.109 17.371 10.362 0.1064 28.127 0.9294 365.9 3448.5 ∑Y²

37.8849 96.2872 249.683 558.921

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

0.18

Return of Global Broadcast News.= 152.32 % NOTE: Return is calculated on the basis of first 15 days after listing.

PYRAMID SAIMIRA THEATRE LTD.

74

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF PYRAMID

X

Y

XY

05-01-07 19-01-07 08-02-07 23-02-07 09-03-07 23-03-07 11-04-07 25-04-07 11-05-07 25-05-07 11-06-07 25-06-07 10-07-07 25-07-07 10-08-07 24-08-07 10-09-07 25-09-07 10-10-07 25-10-07 09-11-07 23-11-07 10-12-07 24-12-07 11-01-08

13,860.52 14,182.71 14,652.09 13,632.53 12,884.99 13,285.93 13,183.24 14,217.77 13,796.16 14,338.45 14,083.41 14,487.72 15,009.88 15,699.33 14,868.25 14,424.87 15,596.83 16,899.54 18,658.25 18,770.89 18,907.60 18,852.87 19,930.68 19,854.12 20,827.45

158.2 190.15 441.3 337.7 230.35 285.9 302.5 339.55 325.75 334.05 339.4 352.55 320.05 287.65 284.8 271.6 317.7 341.2 309.65 281.2 285.75 343.6 309.65 424.95 451.45

2.32452 3.30952 -6.9585 -5.4835 3.11168 -0.7729 7.84731 -2.9654 3.93073 -1.7787 2.87082 3.60416 4.59331 -5.2937 -2.9821 8.12458 8.3524 10.4069 0.6037 0.72831 -0.2895 5.71695 -0.3841 4.90241 43.5189 ∑X

20.196 132.08 -23.476 -31.789 24.1155 5.80623 12.2479 -4.0642 2.54797 1.60156 3.87448 -9.2186 -10.123 -0.9908 -4.6348 16.9735 7.39692 -9.2468 -9.1878 1.61807 20.245 -9.8807 37.2356 6.23603 179.563 ∑Y

46.9458 437.122 163.357 174.313 75.0397 -4.4878 96.1134 12.0519 10.0154 -2.8487 11.123 -33.225 -46.5 5.24496 13.8213 137.902 61.782 -96.23 -5.5467 1.17845 -5.8601 -56.487 -14.303 30.5716 1011.09 ∑XY

5.40337 10.9529 48.4202 30.0688 9.68257 0.59741 61.5803 8.79344 15.4506 3.16382 8.24163 12.9899 21.0985 28.0236 8.89268 66.0088 69.7626 108.303 0.36445 0.53043 0.08379 32.6836 0.14756 24.0336 575.277 ∑X²

407.877 17445.1 551.127 1010.51 581.556 33.7123 150.012 16.5177 6.49213 2.56498 15.0116 84.9817 102.484 0.98166 21.4817 288.099 54.7144 85.5029 84.4155 2.61814 409.859 97.6277 1386.49 38.888 22878.6 ∑Y²

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

1.40

Return of Pyramid Saimira Theatre. = 90.15 % NOTE: Return is calculated on the basis of first 15 days after listing.

ALLIED COMPUTER INTERNATIONAL.

75

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF ALLIED COMPUTER

X

Y

XY

23-11-07 07-12-07 20-12-07 04-01-08 11-01-08

18,852.87 19,966.00 19,162.57 20,686.89 20,827.45

37.7 59.9 71.8 55.65 45.15

5.9043 -4.024 7.9547 0.6795 10.514 ∑X

58.886 19.866 -22.49 -18.87 37.391 ∑Y

347.6803 -79.9424 -178.925 -12.8201 75.99302 ∑XY

34.8608 16.1925 63.2768 0.46167 114.792 ∑X²

3467.6 394.68 505.94 356 4724.2 ∑Y²

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

0.02

Return of Allied Computer International.= 399.17 % NOTE: Return is calculated on the basis of first 15 days after listing.

RELIGARE ENTERPRISES LTD.
76

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF RELIGARE

X

Y

XY

21-11-07 07-12-07 20-12-07 04-01-08 11-01-08

18,602.62 19,966.00 19,162.57 20,686.89 20,827.45

521.7 540 513.45 683.05 642.35

7.32897 -4.024 7.95467 0.67946 11.9391 ∑X

3.50776 -4.9167 33.0315 -5.9586

25.7083 19.7846 262.754 -4.0486

53.7138 16.1925 63.2768 0.46167

12.304 24.174 1091.1 35.505 1163.1 ∑Y²

25.664 304.199 133.645 ∑X² ∑Y ∑XY

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

2.31

Return of Reliagare Enterprises Ltd..= 191.89 % NOTE: Return is calculated on the basis of first 15 days after listing.

VISHAL RETAIL LTD.
77

Match Your Dreams. With Our Vision DATE
BSE SENSEX BANCHMARK BSE PRICE OF VISHAL

X
4.6055 -4.2563 -6.1324 11.6319 6.07006 7.29965 -1.2006 11.5649 -1.5823 2.37163 -2.9157 7.95467 0.67946 36.0905 ∑X

Y
-3.9551 -13.475 -0.6959 3.34273 11.9252 3.25905 -4.7748 -0.9278 1.40825 5.2728 3.79001 19.3935 -1.0159 23.5472 ∑Y

XY
-18.215 57.3539 4.2675 38.8823 72.3866 23.7899 5.73238 -10.73 -2.2282 12.5052 -11.05 154.269 -0.6903 326.274 ∑XY


21.2107 18.1163 37.6069 135.301 36.8457 53.2848 1.44135 133.748 2.50359 5.62465 8.50122 63.2768 0.46167 517.923 ∑X²


15.6425 181.575 0.48426 11.1738 142.21 10.6214 22.7982 0.86074 1.98317 27.8025 14.3642 376.11 1.03203 806.658 ∑Y²

04-07-07 20-07-07 06-08-07 21-08-07 06-09-07 21-09-07 05-10-07 19-10-07 05-11-07 20-11-07 05-12-07 20-12-07 04-01-08 11-01-08

14,880.24 15,565.55 14,903.03 13,989.11 15,616.31 16,564.23 17,773.36 17,559.98 19,590.78 19,280.80 19,738.07 19,162.57 20,686.89 20,827.45

752.2 722.45 625.1 620.75 641.5 718 741.4 706 699.45 709.3 746.7 775 925.3 915.9

β = n (∑xy) – (∑x) (∑y)
------------------------------n ( ∑x² ) – (∑x)²

=

0.63

Return of Vishal Retail Ltd.= 167.57 % NOTE: Return is calculated on the basis of first 15 days after listing.

78

Match Your Dreams. With Our Vision

According to my study the investment done in the securities by the

investors is mainly done only by the image of the company but not on the basis of the fundamental analysis. • EPS is the money that is left over after a company pays all of its debt

so, higher the EPS the better it is. • A low P/E is generally considered good because it may mean that the

stock price has not risen to reflect its earning power. A high P/E, on the other may reflect an overpriced stock or decreasing earnings. • A Beta of 1 indicates that the Security’s price will move with the

market. A Beta of less than 1 means that security will be less volatile than the market. A Beta of greater than 1 indicates that the security price will be more volatile than the market. • According to my study most probably, listing price is more compare to

allotment price. • According to my study, compare to year 2005 (61) and 2006 (85), in

this year there are more IPO listed in the year 2007 (110).

79

Match Your Dreams. With Our Vision

The investment in IPO can prove too risky because the investor does

not know anything about the company because it is listed first time in the market so its performance cannot be measure. • On the other hand it can be said that the higher the risk higher the

returns earned. So we can say that the though risky if investment is done then it can give higher returns as well.  For example- we can take the example of Reliance power. The Investors invested in huge amounts with the faith that they will get good returns but nothing happened so when the IPO got listed. So one should think and invest in IPO • Primary market is more volatile than the secondary market because all

the companies are listed for the first time in the market so nothing can be said about its performance. • If higher risk is taken, it is always rewarded with the higher returns. So

higher the risk the more the returns rewarded for it. • “We can fairly predict the future, but can’t make it happen as it is.”

80

Match Your Dreams. With Our Vision

• Investment management By Prof. V. Gangadhar & Dr. G. Ramesh Babu, 1st edition, (Amol Publication Pvt. Ltd.), 2003. • Magazine: Capital Market. • Websites o www.rediff.com o www.bseindia.com o www.nseindia.com o www.moneycontrol.com o www.arcadiastock.com

81

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