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Zenith Infotech outlines ambitious plans - Views on News from Equitymaster
 
 
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  • Dec 9, 1999

    Zenith Infotech outlines ambitious plans

    Zenith Infotech, the infotech arm of Zenith Computer plans to boost personal computer (PC) sales to surpass HCL Infosys in the domestic PC market in two years.

    Currently, Zenith commands 7% market share, as opposed to 8% by HCL Infosys. With such a narrow gap between the two, Zenith has every chance to surpass HCL Infosys' market share.

    Early on, Zenith used to be a pure hardware company, before it shifted focus to target the high growth, high margin software business.

    Hardware apart, the company has lined up ambitious plans in software. The company is currently developing various products with a focus on retail banking. Its Internet banking software iBank (targeted at nationalised banks) was already installed in Central Bank of India (CBI) and was being installed in Allahabad Bank.

    To capitalise on the Internet boom, Zenith is currently concentrating on developing e-commerce products, middleware and Internet systems software solutions.

    Zenith also has an eye on the capital markets and will come out with its public issue of 2,875,000 equity shares at a premium of Rs 100. The proceeds of the equity issue (Rs 391.2 m) will be used to build up a software development facility in India, besides setting up small development centers in California and Singapore.

    Given the frenzy that has become the hallmark of software issues, Zenith would seem like a winner already. Over the past few months software IPOs (Polaris, Hughes Soft) and (now HCL Tech.) have evinced an abnormal level of investor interest and have got over-subscribed several times over. Investors are jumping in software stocks without bothering to check the credentials of the company. While this can fetch attractive returns in the short term, long term of the potential of the company needs to be scrutinised in some detail.

     

     

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