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Oct 15, 2009, 03.59 PM IST
FCS Software Solutions is looking to raise Rs 110 crore via global depositary receipt (GDR), says its CMD Dalip Kumar.
Dalip Kumar, CMD, FCS Software Solutions , says the company is looking to raise Rs 110 crore via global depositary receipts (GDR). Kumar says the company will use the proceeds from the GDR issue for expansion in
Here is a verbatim transcript of the exclusive interview with Dalip Kumar’s on CNBC-TV18. Also watch the accompanying video.
Q: You are about to do your GDR issue, can you take us through how much your raising and what is the kind of dilution?
A: Yes, we are in the process of doing global depository receipt (GDR), its going to be based on the average pricing formula. Our GDR is going to be priced around Rs 110 crore or in that range. We are bringing in a USD 10 million GDR at price of Rs 110, so we will be raising roughly Rs 110 crore. That means we are going to dilute our equity by close to 25-30%.
Q: What is the money being raised for primarily?
A: The money is primarily being raised for our expansion plans in
Q: You did Rs 25 crores in profits last year, almost earnings per share (EPS) of Rs 17. What do you think you will manage in FY10?
A: We are looking at our equity to be around 25 crore and to do EPS of Rs 10-12, post GDR.
Q: How much do you think this potential tie-up in the UAE will impact your revenues and profits, because that is going to be a big kicker for you in this year?
A: Yes, I think these days one really has to have war chest to play in the emerging markets and this GDR gives the capability. The kind of service offerings our company has, we always has been pretty strong as one stop solution providers for the companies and this is one of the strength in emerging markets. Gartner Research has predicted in their April 2009 Survey that the markets in Middle East Africa are very strong for software companies. The kind of response that we are getting and the kind of discussion that we are in, we are looking to raise our topline by at least Rs 100 crore with the
Tags: FCS Software Solutions, global depositary receipt, GDR, raising of funds, EPS, Dalip Kumar, EPS
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