Dinesh Engineers sets IPO price band at Rs 183-185; issue to open on Sep 28

New Delhi: Dinesh Engineers, a passive communication infrastructure provider firm, Wednesday said it has fixed a price band of Rs 183-185 per equity share for its initial public offering, through which it is estimated to raise Rs 185 crore.

The company's IPO will be open for public subscription on September 28 and close on October 3, it said in a statement.

"The initial public offering (IPO) consists of up to 1,00,00,000 equity shares," it added.


Proceeds of the issue will be used for expansion of business by setting up of further optical fibre cable (OFC)network, to fund expenditures towards general corporate purposes and meet public issue expenses.

At the higher end of the price band, the company is expected to fetch Rs 185 crore through its initial share-sale.

The issue is being managed by Hem Securities and the the equity shares of Dinesh Engineers will be listed on the BSE and NSE.