Dhanus Tech up 1% on BSE on debut

Dhanus Tech up 1% on BSE on debut
PTI
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First Published: Wed, Oct 17 2007. 01 11 PM IST
Updated: Wed, Oct 17 2007. 01 11 PM IST
Mumbai: Chennai-based Dhanus Technologies (DTL) on 17 October got listed on the Bombay Stock Exchange with 1% premium over its issue price of Rs295 amid high volatility at the bourses.
The scrip opened at Rs300.20 on BSE and touched an intra-day low of Rs251.60 while the benchmark Sensex crashed over 1,700 points which forced authorities to suspend trading for an hour.
After trading recommenced and the market regained over 900 points, DTL scrip also recovered and was trading at Rs 298.50 at noon.
The IPO of the company was subscribed by about 28 times.
The company which offers telecom services and operates in tele-services , IT/ ITeS and telematics has listed 3.83 lakh shares at an issue price of Rs 295 each.
DTL proposes to invest Rs 1,182.94 million to fund its expansion plans. It would involve expansion of infrastructural facilities, purchase of equipment base and construction of new corporate office and network operating centre. PTI RUP MBH SSA
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First Published: Wed, Oct 17 2007. 01 11 PM IST