Signals, Powered By EquityPandit
Dinesh Engineers Ltd. has declared its plans to raise up to Rs 185 crore through its three-day initial public offering (IPO) that opens today, i.e. 28/09/2018. The communication infrastructure provider will issue around 1 crore equity shares at a price range of Rs. 183 to Rs. 185.
The company said in the IPO’s red herring prospectus that it will use 84 per cent of the proceeds of the IPO to expand its fibre network in India, while the remainder will be used for general corporate purposes. The promoters will dilute their stake by 25.5 per cent.
As on Mar. 31, the net worth of the company, was close to Rs 108 crore, translating to book value of Rs 27 per share. Dinesh Engineers’ revenue and net profit rose at a compounded annual growth rate of 57 per cent and 119 per cent in the last two years.
Dinesh Engineers which lays fibre cables for private telecom operators has secured IP-I license from the Department of Telecommunications. The company has also created its fibre network of around 7,500 km in 10 states.
The company’s network of around 9,500 km is being used by India’s top three telecom operators and internet service providers. The Mumbai-headquartered company is also in the business of laying gas pipelines in the city for Mahanagar Gas Ltd. through subcontracting.
