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| Silverline Technologies Limited |
| Unit 121, SDF IV, SEEPZ, Andheri, Bombay, India 400096 |
| Business Description | The Company is an Indian provider of information technology services. |
| Offering Information Company has | |||
| Trading As | SLT (NYSE) | Industry | High-Tech (SIC 7371) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 5/19/00 |
| Domestic Shares Offered | 4,350,000 | Offer Date | 6/19/00 |
| Foreign Shares Offered | 0 | Filing Price | $19.68 |
| Company Shares | 4,350,000 | Offer Price | $25.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.750 |
| Gross Proceeds | $108,750,000 | Selling | $1.050 |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 37,450,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| ABN Amro Roth | Co-manager | (212) 314-1080 |
| Jefferies & Company Incorporated | Co-manager | (212) 903-2342 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 |
| Revenues | 39.449 | 45.252 | 46.769 | 60.219 | 87.577 | 16.997 | 30.998 |
| Income from Oper. | 6.707 | 6.618 | 6.429 | 13.215 | 20.363 | 4.316 | 7.397 |
| Net Income | 5.686 | 5.275 | 4.325 | 10.838 | 15.800 | 2.799 | 5.883 |
| E.P.S | 0.260 | 0.240 | 0.200 | 0.520 | 0.560 | 0.140 | 0.180 |
| Revenue Growth (%) | 14.71 | 3.35 | 28.76 | 45.431 | 82.37 | ||
| Net Income Growth (%) | -7.23 | -18.01 | 150.59 | 45.78 | 110.18 | ||
| Oper. Profit Margin (%) | 17.00 | 14.62 | 13.75 | 21.94 | 23.25 | 23.86 | 25.39 |
| Net Profit Margin (%) | 14.41 | 11.66 | 9.25 | 18.00 | 18.04 | 18.98 | 16.47 |
| Cash Flow - Oper. | 24.64 | 5.53 | -5.86 | ||||
| Cash Flow - Inv. | -16.77 | -6.92 | -0.19 | ||||
| Cash Flow - Fin. | 0.66 | 0.92 | 6.21 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 101.12 | Current Assets | 61.89 | Current Ratio | 2.58 |
| Total Liab. | 24.35 | Current Liab. | 24.02 | Debt Ratio | 24.08% |
| Total Equity | 76.78 | Working Cap. | 37.87 | Debt to Equity Ratio | 0.32 |
| Cash | 20.61 | Return on Assets | 5.82% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for capital expenditures consisting primarily of the build-out of our existing facilities, working capital requirements, expansion of our sales and marketing efforts, potential acquisitions and other strategic transactions, and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Greenberg Traurig Hoffman Lipoff Rosen & Quentel |
| Bank's Law Firm | Cravath, Swaine & Moore |
| Auditor | Deloitte & Touche |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Silverline Holdings, Corp. | 30.00 | |
| KS Software Technologies Ltd. | 30.00 | |
| Subra Mauritius Ltd. | 13.00 | |
| Shreyas Holdings Ltd. | 4.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||