| India Infoline Ltd has announced that Ordyn Technologies Pvt Ltd (formerly known as Orion Tele Equipment Pvt Ltd), a fast growing Indian telecom equipment Company has tied up funding to the tune of Rs 60 Crores. The deal was structured and arranged by the Investment Banking team of India Infoline. Aureos Capital, a private equity firm that has invested Rs 40 crores in the form of private equity, was the major investor in the funding besides India Infoline.
Ajit Menon President, Investment Banking of the Company said, “Ordyn has a talented and very energetic team. We believe they offer tremendous potential in one of the most exciting sectors in the country.” Ordyn will use the proceeds of this round of funding for scaling up its operations including increased R&D for designing next generation products and for expanding its international operations. They also have good banking support with excellent credit lines. India is the fastest growing major Telecom market in the world today. Ordyn sees a huge opportunity for business growth in Indian and export markets. In 2006, Ordyn won a large tender for the supply of its Optical networking technology equipment to BSNL, the largest telecom carrier network in India, against stiff competition from Indian and international Companies. And now Ordyn is well on track in shipping the equipments to the customer. Ordyn's products have been deployed extensively in many Indian and international networks. In their first commercial year ending March '07 the Company expects revenues of Rs 55 Crores. And the Company targets to cross Rs 200 Cr revenue next financial year ending March '08. The Company has a staff of 200 now and expects to grow the employee base in line with their business growth. A very dynamic sector: Ordyn is one of the Indian companies with large growth plans in Telecom, one of most dynamic sectors in India. Its products include SDH/SONET range of equipment and Digital Cross connects. Ordyn has also launched a new R&D Initiative to come out with advanced products like STM 64, DWDM and high capacity Digital Cross Connects to meet the wide demand spurred by rapid deployment of broadband and 33 technologies. Focus will be primarily on Next Gen IP bearer Network and Next Generation IP platforms. Such initiatives are believed to open a large addressable market in the emerging markets. This is expected to take them to a new league and make them a very strong player in this space in Asia. Ordyn is one of the emerging new stars among technology Companies in India. It is a Company to watch. |
| Source: Equity Bulls |