The Hartcourt Companies, Inc. (HRCT) Message Board

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Microcap & Penny Stocks : The Hartcourt Companies, Inc. (HRCT)

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To: StockDung who wrote (1490)	11/17/2000 4:42:29 PM
From: funincolo	Read Replies (1) of 2413

timesofindia.com Mahadev.com to launch issue for IT centre By Prabhakar Sinha Business Times Bureau NEW DELHI: Hyderabad-based Mahadev.Com is to come out with a public issue in the next couple of months to part finance a Rs 14.34 crore software development centre. The company has already filed its prospectus with SEBI. Nearly 90 per cent of the total offer of 27.50 lakh equity shares will be sold through book build. The rest will be through the fixed price route. CEO Srinivas Polisetty, who is also one of the promoters, told The Times of India that a minimum price has not been fixed yet. He claimed the company is flooded with enquires from various institutional investors for the shares. Post issue, paid up capital would be Rs 10.75 crore. The company, launched in 1999, will declare its full year result only next year. It is likely to show a profit of Rs 3.8 crore on a turnover of Rs 20 crore in 2000-01. Profit and turnover in the next financial year is likely to be Rs 13.14 crore and Rs 40 crore respectively. The company is developing internet based e-business application products to enable a user to process and manage orders real time. The application integrates a strong messaging engine for informing administrators. The product, ``bzCommerce'', would provide access to intelligent sales and marketing analysis capability. It also make a legacy system at an enterprise compatible with the internet. The company has also launched bzBanking for internet banking. Polisetty said they have tied up with ECIL, Mahindra Group and Mind Tech to promote both products. With ECIL, he was hopeful of making an inroad into government sector companies. Another new product ``Mahadev iEMS'' provides a complete software development environment to design and test user interface, business logic and data source connectivity for web enabled applications. For rural India, it has developed a web portal, DWACRA, to be managed by government agencies for women. An artisan can put his or her product's picture on the site which could be accessed by consumers worldwide. The logistics of delivering the products would be provided by a private company. Mahadev.com would charge a commission for each transaction.

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