Omnitech Info Solutions Lists With 75% premium

Omnitech InfoSolutions has listed with 75% premium at Rs 183.75 as against its issue price of Rs 105 per share on the NSE. Listing was as per the market’s expectations but it could not manage to hold that gain and slipped from intraday high of Rs 183.75 to a touched low of Rs 161.35 on the back of volatile trade in markets.

At 10:06 am, the share was trading at Rs 167.05, up 59.10%, with volumes of 22,26,826 shares. The turnover was at Rs 37.18 crore on the NSE.

On the BSE, the stock was quoting at Rs 163.6, with volumes of 15,45,383 shares.

Omnitech Info Solutions Ltd Sees Net Profit margins at 18.5-19%

According to Atul Hemani Managing Director of Omnitech Info Solutions, said FY08 organic growth is seen at 40% while acquisitions would add more. He expects to see FY08 net profit margins at 18.5-19% and exports to rise from 23% to 35%.

The company is in advanced talks for acquisitions and is looking at a USD 8-12 million deal, he said, adding that the should close the acquisition in three months time. The acquisition will be funded through earnouts, he added.

Omnitech expects 65% of revenue from domestic markets with the rest coming from international, Hemani said. The company has been growing 40% organically and it expects to grow at the same rate, he added