Advanced Synergic Microsystems
(Rupee Gains 31st Jan-13th Feb 1994)

Advanced Synergic Microsystems, Bangalore will be entering the capital market on February 18th, 1994, with a public issue of 1,85,00,000 equity shares of Rs.10 each for cash at par aggregating Rs.1,85,00,000. The company having on all India network with over seventy professionals is engaged in developing software for export markets and for providing CAD and CAM workstations based solutions to domestic market.

According to Mr. Rabindra, Director, the company presently is fully operational and has already commenced software exports. It has been catering to major Defence Laboratories, Defence Projects, Private and Public Sector Companies, etc. The company which was initially M/S. Synergic Systems has been transferred to Advanced Synergic Microsystems Limited, which was incorporated as a public limited company on 10th August, 1992.

Issue opens on 18th Feb.94

Advanced Synergic Microsystems is setting up facilities to develop and market wide range of computer software and hardware products for domestic as well as the global market. The activities include systems engineering and value added reselling through distributorship of leading hardware and software systems, software development, consultation and training for turnkey solutions in CAD/CAM, finite element analysis and structural analysis and services including CNC machinery services including modal analysis, computer aided drafting and digitizing of drawing and maps, etc. The project has been appraised by IDBI and the cost of the project has been estimated at Rs.460 lakh of which Rs.115 lakh will be brought in by the promoters, Rs.185 lakh will be raised through the public issue. IDBI has also agreed to extend Rs.35 lakh to the public issue. The company proposes to tie-up the underwriting to the extent of 80% with the banks, institutions, merchant bankers and the remaining 20% to the brokers. The amount to be paid on application will be Rs.5/- and on allotment Rs.5/-. The company have been promoted by Mr. S.Rabindra, and MR.K.Sundar, both professionals in the field. The two promoters include Dr.Srikantan Ex. Managing Director, KEONICS and Dr.R.P.Shenoy.