Rush for admission to Educomp Solutions after foreign funding

The scrip had touched a high of Rs 2360 and a low of 2078 so far during the day.

The stock had hit a 52-week high of Rs 2375 on 21 June 2007 and a 52-week low of Rs 328.50 on 24 July 2007.

On BSE, 5.76 lakh shares were traded.The stock had an average daily volumes of 88,343 shares on BSE in the past one quarter.

The Educomp Solutions scrip had soared 38.15% to Rs 2,149.05 on 21 June 2007, from Rs 1,555.55 a month ago . It surged 117.74% over the three months.

During trading hours today, 22 June 2007, the company said it completed the issue of zero coupon convertible bond issue amounting to $80 million.

The bonds would be listed on Singapore Exchange, with an initial conversion price of Rs 2949.83 per share. This is a 27.7% premium over the current ruling market price. The zero coupon bonds would be redeemed on 26 July 2012.

Educomp Solutions’ net profit surged 96.85% to Rs 13.13 crore in Q4 March 2007 as against Rs 6.67 crore in Q4 March 2006. Revenue flared up 96.49% to Rs 49.85 crore in Q4 March 2007 (Rs 25.37 crore).

Net profit soared 103.45% to Rs 28.28 crore in the year ended March 2007 as against Rs 13.90 crore in FY 2006. Revenue rose 103.65% to Rs 106.51 crore (Rs 52.30 crore).

Educomp Solutions is a technology-driven, e-learning solutions provider specialising in creation, management and delivery of learning content. The company has 27 offices in India, a wholly owned subsidiary in the US, and employs over 1,000 personnel

Educomp Solutions has annual contracts with Intel and Microsoft to train a specific number of teachers each year. This segment has a healthy margin of 60%.