Dhanus technologies to raise Rs 113 crore from market

Mumbai Sep 5 (UNI) Chennai-based communication services, Dhanus Technologies Limited will enter the capital market with a public issue of 38,3500 equity shares to raise Rs 113 crore for financing the company's future expansion plans.

The price band of the issue has been fixed at a range between Rs 280-Rs 295 and it will hit the bourses on September 10 and close on September 12.

SREI Capital Markets Limited is the lead manager of the issue. The company intends to expand its infrastructural facilities and equipment base and would be constructing its new corporate office and network operating centre.

Planned capital expenditure of the issue will be used to acquire property in Chennai. The plans also include expansion and improvement of the company's infrastructure support systems by purchase of network operating centre.

The company offers telecommunication services and unified messaging and enhanced logistic services. It has a BPO operation of telemarketing services to the US, UK and Australia markets. The company's total income was Rs 40.46 crore and net profit at Rs 24.59 crore last fiscal.

The existing business segments in which the company operates include telecards, teleservices and software services.

UNI