Choice Broking has come out with its report on Dinesh Engineers. The research firm has recommended to "Subscribe" the IPO in its research report as on September 26, 2018
Passive communication infrastructure provider Dinesh Engineers Ltd. (DEL) is planning to raise around Rs. 1.8bn through an IPO by offering 10mn share between the price range Rs. 183 - 185 per share.
The IPO consists of only fresh issue. Net proceeds from the same would be largely utilized for the expansion of optical fiber cable (OFC) network under IP-1 license. Residual funds would be utilized towards general corporate purposes.
Valuation and Outlook
There are no comparable listed companies in India that engage in the same line of business as the company. At the higher price band of Rs. 185 per share, DEL’s share is valued at a P/E multiple of 11.8x (to its restated FY18 EPS of Rs. 15.6).
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