Dhanus Technologies IPO: Company offers to withdraw IPO applications

September 27, 2007

Dhanus Technologies IPO ended on September 12, 2007 with 28.47 times subscription.

The qualified institutional buyers category was subscribed 36.17 times. The non institutional investors category was subscribed 26.73 times. The retail investors category was subscribed 18.6 times.

Today, the Dhanus Technologies Ltd. offered investors to withdraw their IPO applications till October 6, 2007.

“The company denies having obtained any personal loans in the name of its employees without their knowledge and/or by forging their signatures. We wish to clarify that neither our company nor any of our promoters/directors/employees are in any way involved in any of the alleged frauds or forgery mentioned in said article. Individual intimation letters regarding this public notice have been dispatched to all the applicants and the dispatch as been completed on September 26, 2007″, company said in its statement.

An article was published in a local Tamil magazine - “Junior Vikatan” in its edition dated 29.08.2007 in which it has raised certain allegations against the Company / its promoters and its employees. In this regard, the Company is publishing a public notice in the prominent newspapers on 27.09.2007, giving details of the allegations & the Company’s clarifications on the same. The Company is also giving an option to the applicants to withdraw their applications, if they wish to do so, within a period of 10 days from the date of publication of the public notice, viz., 06.10.2007. A separate letter to all the applicants/investors has also been sent in this regard. The further course of action regarding basis of allotment / despatch of refund orders etc., will be organised subsequently.

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