CandyDate Jobs India To List on Indian Bourses Soon

Online, October 31, 2011 (Newswire.com) - CandyDate Jobs India (CJI), the exclusive franchisee of Palo Alto, United States based largest human resource consultancy firm will list on Indian bourses soon. CJI is facing the heat of slowdown in India and is planning to expand into various new businesses like education and online retailing.

CJI have over 2.3 million registered users and hires for IBM, Microsoft, Dell and many other top brands. "We have some huge expansion plans; we are planning to start a cloud campus which will provide advanced computer courses and English coaching to the interested people worldwide at a very affordable price. We will also open e-shops which will retail some fantastic products at great discounts" said Rahul Malhotra, Vice Chairman of CJI.

CJI will increase the paid up capital of the company to US $1.25 million or Indian National Rupee (INR) 6 crore. CJI will raise US $1.71 million or INR 8.20 crore to partly fund the expansion plan. The shares will be issued in the price band of US $1.66 - $2.08 or INR 80-100. The face value of the share is US $0.20 or INR 10. The valuation of the company will stand at US $12.5 million or INR 60 crore.

CJI India has booked a meagre loss of US $5,208 or INR 2.51 lacs on total sales of US $60,200 or INR 28.89 lacs in the year 2010. "The company has some great business plans in place and they are very near to the break even. The total expansion plan will cost around US $3.12 million or INR 14.97 crore and many private equity companies in India are eager to invest in the company. The valuation of the company is very modest and we can see some fabulous growth in the coming years seeing the internet boom in India and the growth of skilled manpower. We will place a buy rating on the stock if the calculations are kept intact. Most of the business is online, hence the potential market is not restricted only to India, and launching businesses worldwide will fetch dollar income to the company. There are very few listed companies in this domain and hence this stock may provide some good portfolio diversification to the investor." said Rajiv Agarwal, Senior Research Analyst with Exhilway Capital Advisory, India.