The company opened its public offer on September 28 with a price band at Rs 183-185 per share.
Brokerage houses advised either subscribing with caution or said high risk appetite investor may opt this public issue due to current equity market conditions and dependency of the company on limited number of large customers for revenue.
Dinesh Engineers intends to raise Rs 183 crore at lower end and Rs 185 crore at higher end of the price band.
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
Dinesh Engineers will utilise net issue proceeds for expansion of business by setting up of further OFC network under IP-1 license; fund expenditures towards general corporate purposes; and to meet public issue expenses.