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Mumbai, Sep.5 Chennai-based Dhanus Technologies, proposes to enter the capital markets with a public issue of 38.3 lakh equity shares of Rs 10 each. At the lower end of the price band of Rs 280 to Rs 295 per equity share, the company proposes to raise about Rs 107 crore to fund its expansion .

Of the shares being issued, about two lakh equity shares have been reserved for employees. Thus, the net issue to the public will be 36.3 lakh equity shares. The net issue would constitute 20.26 per cent of the fully diluted post issue paid up capital of the company, said a statement from the company. “We wish to raise funds for expanding our infrastructure facilities and equipment base. We also intend to set up a new corporate office and a network operating center in Chennai,” said Mr A.D. Sudhindra, Chairman, Dhanus Technologies.

The equity shares are proposed to be listed on BSE and NSE.

The IPO opens for subscription on September 10 and closes on September 12.

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