Advanced Synergic
(Investment Preview 07th-13th Feb)

Advanced Synergic Microsystems Ltd, established in August 1992, has been promoted by Mr S. Rabindra and Mr K. Sundar.

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

The location of the unit will be at Lusanne Court in Bangalore.

The implementation of the project is going on in full swing and the commercial production is expected to commence by April 1994.
The financial projections, as per appraisal by IDBI, indicate turnover at Rs.985 lakh and profit after tax of Rs.64 lacs in 1994-95 while turnover at Rs.1268 lakh and profit after-tax of Rs.67 lakh in 1996-97.Dividend is 10% and 15% , Book value Rs.11.80 and Rs.13.90 while EPS works out to Rs.2.13 and Rs.2.23 for the corresponding period respectively.

The capital outlay required to fund the project is estimated to the tune of Rs.460 lacs to be met through IDBI term loan of Rs.160 lakh, promoters’ equity of Rs.115 lakh and public issue of Rs.185 lakh.

Hence, to part finance the project the company will be floating a public issue of 18,50,000 equity shares of Rs.10 each at par aggregating Rs.185 lakh. Shares are expected to be listed at Bangalore stock exchanges. Issue opens on February 18, 1994.