DEN Networks Limited is opened for subscription from 28 October, 2009 to October 30, 2009. RR Financial Consultants has carried out a report on the IPO of DEN Networks.
Investors having time horizon of two to three years could subscribe for the issue. The issue is of up to 20,000,000 equity shares of Rs 10 each with a price band of Rs 195-205 per share, research firm recommended avoiding the IPO in anticipation of immediate listing gains.
Though the telecom regulator mandating conditional access in 55 cities across the country by 2011 is a positive for the company, there may still be limited scope for growth in subscriber’s industry challenges.
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