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Allied Digital Services ends with premium of 75%

Thursday, July 26, 2007

Allied Digital Services ended at Rs 331.80 on BSE, a premium of 74.63% over the IPO price of Rs 190.

The scrip debuted at Rs 332.50, and touched a high of Rs 370.50 and a low of Rs 309.50.

On BSE, 88.27 lakh shares of the scrip had changed hands.

The company had fixed the IPO price at the top end of the Rs 170 - Rs 190 price band.

At the curent price of Rs 331.80, the PE multiple works out to 24.94, based on the year ended March 2007 EPS of Rs 13.3.

Allied Digital Services IPO ended on 5 July 2007, with 60.87 times subscription. The bids totalled 27.52 crore shares for 45.22 lakh shares on offer.

Bids from qualified institutional buyers (QIBs) totaled 16 crore shares. In this category, the foreign institutional investors (FIIs) bid for 7.69 crore, domestic financial institutions for 5.31 crore shares, and mutual funds for 2.71 crore shares.

Non-institutional investors bid for 5.75 crore shares. Retail investors bid for 5.76 crore shares. Of this, 5.31 crore shares were bid at the cut-off price and 44.50 lakh shares were fixed price bids.

The company plans to use the funds for expansion and acquisitions.

Allied Digital had reported a net profit of Rs 22.93 crore on revenue of Rs 156 crore in the year ended March 2007. The company's order book stood at Rs.107.81 crore as on 12 June 2007. Of this, Rs 54.70 crore were from the services segment and Rs 53.11 crore from the solutions segment.

Allied Digital operates in diversified segments both in solutions: IT solutions, networking and communication solutions, integrated solutions and software solutions. It is also into services: IT infrastructure management services, telecom-BPO and remote management services to its customers pan India.

Posted by FR at 5:14 AM  


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