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V. Rishi Kumar

Co brand value estimated at $1.7 billion

Hyderabad , Aug. 16

Satyam Computer Services Ltd is set to seek shareholders' nod to hike the authorised capital of the company from Rs 75 crore (divided into 37.5 crore equity shares of Rs 2 each) to Rs 160 crore (divided into 80 crore equity shares).

The company's19th annual general meeting will be held in Hyderabad on August 21.

While it is not clear as to why it is hiking its authorised capital given the huge cash pile it is currently sitting on, this move will help raise further funds, if it so desires, by an appropriate instrument.

During the financial year ended March 31, 2006, the company revenues crossed the magical $1-billion mark. Its reserves too crossed the $1-billion mark in the first quarter ended June 30, 2006. The company has given a guidance of Rs 6,100 crore in revenues for the current year.

Brand value

As of March 31, 2006, the brand value of Satyam, which currently employs close to 30,000 people, is estimated at Rs 7,687.77 crore or about $1.7 billion. Its brand value was Rs 3,200 crore in 2002, which went up to Rs 4,662 crore in 2005; it dipped to Rs 2,705 crore in 2003.

The company also rewarded its shareholders with a bonus offer earlier this year.

The Chairman of Satyam Computer, Mr B. Ramalinga Raju, in a statement to the shareholders has hinted at the continued focus on outsourcing by large global corporations and the company's sustained effort to participate in larger deals.

The company's shares ended higher at Rs 785.80 on the BSE as against the previous close of Rs 773.80.

More Stories on : Software | Brands | Satyam Computer Services Ltd

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