As the bull frenzy for IT continues, companies are appearing out of the woodwork to lay claim to their share of the spoils. And the lines between quality and rubbish are getting quite blurred. An inferior issue may sometimes provide better returns simply because lower over-subscription ensures greater allotment.
Investors perceive little risk because they plan to exit soon after listing.
But that is neither here nor there, as we look an another Silicon dream - Visesh Infosystems. The firm is promoted by J.K. Bhatia, who owns an advertising and event management firm called Three-D Communications Pvt. Ltd. and a finance company called One Finsec Pvt. Three-D had a sales turnover of Rs. 15.5 lakhs in FY99, and profits of Rs. 1.3 lakhs. The finance company had income of under Rs.