Di­nesh Engi­neers IPO opens on 28th Septem­ber

Money Times - - NEWS -

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.

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