Great start for CyberMedia IPO

The CyberMedia IPO listed on the Indian stock exchanges on June 10, 2005, had

a dream opening. The IPO offered at Rs 60 per share shot up within a week to a

peak of Rs 167 (a 178 percent apprecia-tion in price). The interest in the stock

was apparent from the first day itself as it closed at Rs 106. It continued to

climb and is currently trading in the Rs 130 to 150 band.

The listing ceremony or the "bell-ringing" as it used to be called

in the old stock market parlance, was well attended by some of the luminaries of

the IT and BPO industry like Neeraj Bhargava, CEO, WNS; Harish Mehta, Chairman,

Onward Group; Raj Saraf, CMD, Zenith Computers; Ashank Desai, CMD, Mastek; and

Javed Tapia, CEO, Red Hat India, to name a few.

Pradeep Gupta, CMD, CyberMedia, said, "The industry has supported me and

the company and their presence here only reaffirms this fact, and I am

encouraged to chart CyberMedia into its next phase of growth."

CyberMedia (India) Ltd, which publishes a clutch of technology-related

magazines, launched its initial public offering (IPO) of shares on May 4 at Rs

60 per share. The shares sold would constitute about 28 percent of the

post-issue capital, giving the firm a valua-tion of about Rs 600 million ($13.7

million). Khandwala Securities lead-managed the issue to raise Rs 170 million.

The company also announ-ced its annual results for FY05. The net profits of

the company grew by 15.2 percent while the revenue growth was 14.9 percent. The

company has declared a final dividend of 10 percent. During this period, the

company's advertisement revenues increased by 34.3 percent. The Earning Per

Share (EPS) is now Rs 6.03.

Some of the operational highlights of CyberMedia were:

• Wholly owned subsidiary formed in Singapore to address
  
  opportunities in the APAC region.

• New joint venture formed with Dice Inc, world's largest
  
  Tech job board to target the growing online job-recruitment space in India.

• Tie up with SRI-BI (a Stanford Research offsh-oot) for
  
  the emerging de-mand for psychographics research in consumer and
  
  entertainment industry.

• Launched The DQ Week Kolkata, the fourth edition of The
  
  DQ Week.

DQW News Bureau


Gurgaon