Telecom services provider Dhanus Technologies has fixed the issue price of its IPO at Rs 295 a share, the top end of the Rs 280-Rs 295 price band. At the IPO price of Rs 295, the PE multiple works out to 23.9, based on FY 2007 consolidated EPS of Rs 12.40.
The company had entered the capital market on 10 September 2007 with a public issue of 38.35 lakh equity shares of Rs 10 each. The issue was subscribed 28.47 times when it closed on 12 September 2007.
The qualified institutional buyers category was subscribed 36.17 times. The non institutional investors category was subscribed 26.73 times. The retail investors category was subscribed 18.6 times.
The company proposes to utilise the proceeds to expand its infrastructural facilities and equipment base, construct a new corporate office and network operating centre.
Chennai-based Dhanus Technologies offers telecommunication and unified messaging and enhanced logistics services. The company's BPO unit has clients from the US, UK and Australia.
On a consolidated basis, Dhanus Technologies reported a net profit of Rs 22.17 crore on revenue of Rs 92.13 crore in the year ended 30 June 2007.|