Ordyn secures Rs 60 crore funding

New Delhi, Apr 9 (UNI) Bangalore-based telecom equipment company Ordyn Technologies Pvt Ltd has tied up funding to the tune of Rs 60 crore.

Aureos Capital, a private equity firm that has invested Rs 40 crore in the form of private equity, was the major investor in the funding besides India Infoline.

''As a fund we are excited about investment in Ordyn as we believe that the Capex on Telecom is likely to sustain over the next few years and Ordyn is appropriately positioned to capitalise in this huge opportunity,'' said Mr Balaji Srinivasan, Managing Partner of Aureos India Advisors Ltd.

The deal was structured and arranged by the Investment Banking team of India Infoline.

''Ordyn has a talented and very energetic team. We believe they offer tremendous potential in one of the most exciting sectors in the country,'' Investment Banking India Infoline Ltd President Ajit Menon said.

In their first commercial year ending March 2007 the company expects revenues of Rs 55 crore. While, it targets to cross Rs 200 crore revenue next financial year ending March 2008.

In 2006, Ordyn won a large tender for the supply of its Optical networking technology equipment to BSNL.

UNI