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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: TraderTerry who wrote (8655)	10/20/1999 11:26:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Terry: What Sterling paid and the VC paid to get in is really irrelevant in my opinion when valuing the deal but you have done well my friend. Anyway I am in the process of taking some profit as well,matter of fact I have a limit order in already but I am not selling all of it at least not yet, just in case you know.

To: TraderTerry who wrote (8655)	10/20/1999 12:49:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

ANALYSIS-India software IPOs may leapfrog to U.S. Terry: If you are interested keep an eye on these companies mentioned in the article,may be they are worth couple of bucks if and when it hits the U.S exchanges.I already own some of them. ====================== Wednesday October 20, 11:46 am Eastern Time By Y.P.Rajesh BANGALORE, India, Oct 20 (Reuters) - Two glamorous listings on the Nasdaq have encouraged Indian software firms and they may increasingly opt for direct listing in the United States rather than domestic stock markets, analysts said on Wednesday. They said firms, particularly in the booming Internet and e-commmerce areas, could find inspiration after Tuesday's debut of Satyam Infoway Ltd (NasdaqNM:SIFY - news), whose value zoomed to $45.50 after its $18 pricing before cooling to $35.50. ``Valuations of Internet companies, portals and e-commerce companies are higher in the U.S...Indian firms (in these sectors) will be encouraged to directly list in the U.S.,' said Vijay Baoney, analyst at Jardine Fleming India Broking Ltd. Rajesh Iyer, analyst at Triumph International Research, said unlisted Indian Internet companies would look to list in the U.S. as they had a growth hunger for cash, and U.S. investors would understand their frenetic business better. LONG LIST OF CANDIDATES Satyam Infoway, India's first private Internet service provider (ISP) offered 4.175 million American Depositary Receipts (ADRs) to raise $75 million. An affiliate of Satyam Computer Services Ltd , Satyam Infoway followed Infosys Technologies Ltd (NasdaqNM:INFY - news) which listed last March in a hugely successful, path-finding Nasdaq debut. Other Indian firms such as Pentafour Software and Exports Ltd , electricity firm BSES Ltd , Satyam Infoway's parent Satyam Computer Services Ltd , and software services firms Wipro Ltd and Silverline Industries Ltd have said that they are exploring listing in the U.S. State run telecommunication firms Mahanagar Telephone Nigam Ltd and Videsh Sanchar Nigam Ltd have also said they are considering listing on U.S. exchanges. But while they are all already listed in India, analysts said leading Internet portal Rediff.com was most likely to follow Satyam Infoway and list in the U.S. REGULATORS HAMPER LOCAL LISTING While rich U.S. investors would beckon Indian firms, difficult regulatory rules at home, aimed at discouraging fly-by-night firms chasing a software boom, may hamper domestic listings. The Securities and Exchange Board of India (SEBI) stipulates a three-year financial track record before a firm can make an initial public offering (IPO). But this could block Internet start-ups which show losses in efforts to build market share. ``The maturity levels of Indian markets are not high,' said Triumph's Iyer. ``Indian investors don't understand valuations of Internet-related companies which need incubation funding but will make losses for some time.' Jardine Fleming's Baoney said Indian investors valued software service companies more while Internet firms received good valuations in the U.S. He said difficult accounting and disclosure standards were unlikely to hinder Indian firms. ($1=43.4 rupees) biz.yahoo.com Wesbites of companies mentioned in the article. Wipro wipro.com Pentafour Software pentafour.com Silverline silverline.com Satyam Computers satyam.com BSES Ltd. bses.com VSNL vsnl.net.in MTNL mumbai.mtnl.net.in Rediff 216.32.165.70