Dhanus Tech to raise Rs 113 crore through IPO

New Delhi, Sept 6 (UNI) Communication services company Dhanus Technologies Ltd will raise Rs 113 crore through entering the capital markets with a public issue of 38,35,000 equity shares of Rs 10 each.

The issue, which will be through 100 per cent book building process, opens on September 10 and closes on September 12.

The price band has been fixed at Rs 280 to Rs 295 per equity share of Rs 10 each, company's Chairman A D Sudhindra said today.

After allowing for reservation of 2,00,000 equity shares for employees, the net issue to the public will be 36,35,000 equity shares.

The issue will constitute 21.37 per cent and the net issue will constitute 20.26 per cent of the fully diluted post issue paid up capital of the company.

SREI Capital Markets Ltd is the Book Running Lead Manager for the issue and Cameo Corporate Services Ltd is the registrar to the issue.

The company proposes to utilise the net proceeds of the issue for financing its business plans and to achieve the benefits of listing, Mr Sudhindra said.

The company intends to expand its infrastructural facilities and equipment base and will be constructing its new corporate office and network operating centre.

Dhanus Technologies Ltd offers telecommunication services and unified messaging and enhanced logistics services. The company has a BPO operation of telemarketing services in the US, UK and Australian markets.

For the year ended June 30, 2007, the company's total income was Rs 90.46 crore and net profit at Rs 24.59 crore as against total income of Rs 35.93 crore and net profit of Rs 13.09 crore for the year ended June 30, 2006.

UNI