Powersoft Global poll: Experts say don�t apply

Powersoft Global Solutions public issue opened on March 23 for subscription. Moneycontrol conducted a market experts poll to check whether to apply for this public issue or not. Experts said don�t apply.

Source: Moneycontrol.com

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Powersoft Global Solutions public issue opened on March 23 for subscription.

The company entered the capital market with a public issue of 54 lakh equity shares of Rs 10 each at a premium of Rs 12 per share aggregating to Rs 11.88 crore (Rs 118.8 million). The issue will close on March 29, 2006.

Moneycontrol conducted a poll on market experts to check whether to apply for this public issue or not. Experts said don�t apply.

Experts/Company

Poll Result

Experts view

Rahul Thakur
(LKP Shares)

Don�t Apply

Powersoft Global Solutions is an average issue. Investors should not apply for its IPO.

Sandeep Shenoy

(Pioneer Intermediaries)

Don�t Apply

Powersoft Global Solutions is an average issue. Investors should not apply for its IPO.

The company is raising the capital for upgradation of existing infrastructure facilities and setting up research and development center and also for its international marketing activities, investments and acquisitions and working capital requirement.

Keynote Corporate Services is the lead manager to the issue while Centrum Capital is the co lead manager. Bigshare Services is the registrar to the issue.