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Dhanus Technologies

Offer price: 280 -295
Target Lsting Price: 420

Dhanus Technologies, a rapidly growing communication services company, proposes to enter the capital markets on September 10, 2007 with a public issue of 38,35,000 equity shares of Rs 10 each through 100% book building process.

The issue closes on September 12, 2007 and the price band has been fixed at Rs 280 to Rs 295 per equity share of Rs 10 each. The company is going to raise Rs 113.13 crore in the higher end of band and Rs 107.38 at lower band.

After allowing for reservation of 2,00,000 equity shares for employees, the net issue to the public will be 36,35,000 equity shares. The issue would constitute 21.37% and the net issue would constitute 20.26% of the fully diluted post issue paid up capital of the company.

SREI Capital Markets Limited is the BRLM for the issue and Cameo Corporate Services Ltd is the registrar to the issue.

The company proposes to utilize the net proceeds of the issue for financing its business plans and to achieve the benefits of listing. The company intends to expand its infrastructural facilities and equipment base and would be constructing its new corporate office and network operating centre. The existing infrastructure, equipments, operations and facilities would however continue to be operational at the existing locations at Mena Kampala Arcade, Chennai. The equity shares are proposed to be listed on BSE and NSE.

Dhanus Technologies offers telecommunication services and unified messaging and enhanced logistics services. The company has a BPO operation of telemarketing services to the US, UK and Australia markets.

For the year ended June 30, 2007, the company's total income was Rs 90.46 crore and net profit at Rs 24.59 crore as against total income of Rs 35.93 crore and net profit of Rs 13.09 crores for the year ended June 30, 2006

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