Issue Period: Feb 11 to Feb 15
Price Range: Rs.400 to Rs.450
Minimum Mkt Lot: 15 shares
Recommendation: Avoid
Grade: Average
Chances of winning Allotment: Strong (in Retail category)
Sector: Information Technology
Recommendations
The IT services market is highly competitive. The increasing attractiveness of the Global Delivery Model is forcing the overseas-based competitors to expand their base in India. The company lacks diversification in terms client operations most of which are located in USA. The valuations of this mid-cap IT company's issue is expensively priced vis-a-vis its other listed peer group companies like Aztec Software, Geometric software, Hexaware, KPIT Cummins, etc. Hence we recommend investors to Avoid this IPO.
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