Dinesh Engineers IPO opens on 28th September
Mumbai based Dinesh Engineers Ltd (DEL) plans to raise around Rs.185 crore through its IPO in the price band of Rs.183-185 for its Rs.10 paid-up equity share. The IPO proceeds will be utilized to expand business by setting up further OFC network under IP-1 license, to fund general corporate purposes and to meet public issue expenses. The issue closes on Wednesday, 3 October 2018.
DEL is a passive communication infrastructure provider. It provides support services to telecom vendors such as project management for laying of ducts and OFCs (optical fibre cable), construction of basic transmission and telecom utilities, dark fibre leasing and OFC network construction. Its order book for FY19 stands at Rs.420 crore. Its revenues have grown at 64% CAGR while EBITDA and PAT have grown at 78% and 88% CAGR over FY13-18.