ADVANCED SYNERGIC MICROSYSTEMS
(Financial Newsweek 10th-16th Feb 1994)

Promoted by S.Rabindra (managing director) and K.Sundar (managing director) Advanced Synergic Microsystems Limited was incorporated as a public limited company on August10, 1992 with the main objective of developing software for exports markets and for providing computer-aided design and computer aided manufacturing workstations based on solution to the domestic market. The company has since taken over the business of Synergic System, a partnership firm dealing with CAD/CAM.

The company is setting up facilities to develop and market wide range of computer software and hardware products for domestic as well as global market.

The project has been appraised by IDBI which has offered a term load .The company has entered into a value added reselling agreement with Silicon Graphics ,USA,a fortune 500 company for engineering workstation. The company has also tie-up with Computer Vision, USA for distributing its products in Indian market. The product has immense export market.

The estimated cost of Rs.460 lakh for the project will be financed with promoter's contribution of Rs.115 lakh, IDBI term loan of Rs, 180 lakh and the public issue of Rs.185lakh.

To part-finance the project and meet the long term working capital requirements as also the expense of the issue, the company is entering the capital market with a public issue of18, 50,000 equity shares of Rs.10 each for cash at par aggregating Rs. 185lakh. The issue opens on February 18, 1994.

SBI Capital Market Limited and Karvy Consultant Pvt Limited are the lead managers while Weizmann Industries Limited is the co-manager.

The shares of the company will be listed at regional stock market exchanges, Bangalore and Bombay stock exchange.