Dhanus Tech fixes issue price at Rs 295
Chennai-based telecom services provider Dhanus Technologies has fixed the issue price of its initial public offer (IPO) at Rs 295 a share.
The company had come out with an IPO of 3.83 million shares, of Rs 10 each to raise up to Rs 1,131.32 million. The issue was subscribed 28.47 times.
The company plans to invest Rs 1,182.94 million to fund expansion needs. It involves expansion of infrastructural facilities, purchase of equipment base, and construction of new corporate office and network operating centre.
