Omnitech InfoSolutions ends with 57% premium

At Rs 164.55 over IPO price of Rs 105 on BSE

Omnitech InfoSolutions ended at Rs 164.55 on BSE, a premium of 56.71% over the IPO price of Rs 105.

On BSE, 89.97 lakh shares of the scrip were traded. The scrip debuted at Rs 183.75. It touched a high of Rs 183.75 and a low of Rs 155.

At the current price of Rs 164.55, the PE multiple works out 18.28, based on the year ended March 2007 EPS of Rs 9.

The company had fixed the issue price at the top end of the Rs 90-Rs 105 price band.

Omnitech InfoSolutions IPO ended on 25 July 2007 with 61.84 times subscription.

Omnitech offers IT solutions and products such as business availability services, business continuity services, systems integration solutions, framework solutions and products.

The company plans to deploy the IPO proceeds to fund acquisitions and strategic investments, set up overseas offices for business expansion and enhance existing facilities.

Omnitech's net profit rose 57.37% to Rs 11.85 crore on a 43.53% increase in sales to Rs 77.64 crore in the year ended March 2007 over the year ended March 2006.