Dhanus Technologies IPO oversubscribed 2.56 times on day 2

Dhanus Technologies (DTL), a telecom and IT enable services provider, received 2.65 times oversubscription for its initial public offer (IPO) on the second day. The IPO received 10,150,740 bids, as against issue size of 3,835,000 shares. A total of 715,120 bids were received at cut off price.

Dhanus Technologies is to raise an estimate of Rs 110 Crore from the IPO by offering 42 Lakh equity shares of Rs 10 each at a price band of Rs 280 to Rs 295, the IPO will close for subscription on 12th September.

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