Ordyn secures Rs 60 crore funding

Ordyn Technologies Pvt. Ltd. (formerly known as Orion Tele Equipment Pvt. Ltd), a fast growing Indian telecom equipment company has tied up funding to the tune of Rs 60 Crores. The deal was structured and arranged by the Investment Banking team of India Infoline. Aureos Capital, a private equity firm that has invested Rs.40 crores in the form of private equity, was the major investor in the funding besides India Infoline.

Ajit Menon President, Investment Banking India Infoline Limited said, “Ordyn has a talented and very energetic team. We believe they offer tremendous potential in one of the most exciting sectors in the country."

“As a fund we are excited about investment in Ordyn as we believe that the Capex on Telecom is likely to sustain over the next few years and Ordyn is appropriately positioned to capitalize in this huge opportunity. We also believe that Ordyn has the best management team to execute this opportunity” said Mr. Balaji Srinivasan, Managing Partner of Aureos India Advisors Limited.

Ordyn will use the proceeds of this round of funding for scaling up its operations including increased R&D for designing next generation products and for expanding its international operations. They also have good banking support with excellent credit lines.

Ordyn is a fully indigenous start up company promoted by five young technocrats. Mr.R.Venkatesh, the CEO and co-founder of Ordyn said, “Ordyn has built a strong R&D capability and has already built an impressive line of products in Optical networking space. Ordyn plans to become a leading Telecom equipment supplier in Asia. We are excited about Aureos as a partner as they are a global emerging market fund.”

India is the fastest growing major Telecom market in the world today. Ordyn sees a huge opportunity for business growth in Indian and export markets. In 2006, Ordyn won a large tender for the supply of its Optical networking technology equipment to BSNL, the largest telecom carrier network in India, against stiff competition from Indian and international companies. And now Ordyn is well on track in shipping the equipments to the customer. Ordyn’s products have been deployed extensively in many Indian and international networks. In their first commercial year ending March ‘07 the company expects revenues of Rs 55 Crores. And the company targets to cross Rs 200 Cr revenue next financial year ending March ‘08. The company has a staff of 200 now and expects to grow the employee base in line with their business growth.

Sourced From: LINOpinion - The Lintas Public Relations Division