Aishwarya Telecom

Aishwarya Telecom has filed its DRHP with SEBI on 18-07-07 to come out with a public issue of 52 lakh equity shares of Rs.10 each. SREI Capital Markets are BRLM and shares of the company would be listing on BSE and NSE.

The company is presently making fibre optic test equipments and cable fault locators and having its two manufacturing facilities located at Pondicherry and Uttarakhand. For FY 07, total income of the company was placed at Rs.22.42 crores, Profit before tax of Rs.4.31 crores, PAT of Rs.3.03 crores, on equity of Rs.5.46 crores. Post issue equity of the company would rise to Rs.10.66 crores in which promoters stake would fall from 84.41% to 43.23%. The net worth on 31-03-07 was at Rs.9.18 crores.

The company has initiated a capex plan of Rs.21.50 crores, which is mainly for setting up a project for GSM/GPRS/CDMA analysers for providing technical audit service to mobile operators (Rs.7 crores), working capital requirements, (Rs.7 crores) and land and building of Rs.6.05 crores. This is being financed by term loan of Rs.3.60 crores and rest from public issue. This implies an issue price at Rs.35 per share.