Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The SME IPO of DCG Cables and Wires opened for subscription on Monday and will close on April 10. The company aims to raise about Rs 50 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
The company is a manufacturer of copper cables and wires. Its primary focus is on manufacturing of different types of copper cables which finds application in Transformers. The product portfolio consists of copper strips, paper covered copper strips and wires.
Manufacturing is emerging as an integral pillar in the country’s economic growth, thanks to the performance of key sectors like automotive, engineering, chemicals, pharmaceuticals, and consumer durables. The Indian manufacturing industry generated 16-17% of India’s GDP pre-pandemic and is projected to be one of the fastest-growing sectors.
The IPO is entirely a fresh equity issue of 49.99 lakh shares and through the issue, the company aims to raise nearly Rs 50 crore.
The company is offering its shares at Rs 100 apiece, and investors can bid for 1200 shares in 1 lot.
For the period ended February 2024, the company clocked revenues of Rs 76.33 crore and net profit of Rs 8.47 crore.
The net proceeds from the public offer will be used for capital expenditure, long-term working capital requirement and general corporate purposes.
Interactive Financial Services is acting as the lead manager to the issue and Bigshare Services is the registrar.
About 50% of the offer is reserved for QIB investors and the rest 50% for other investors
The IPO opened on April 8 and will close on April 10. The final allotment will likely be made on April 12. The company's shares will likely get listed on April 16.
The company's shares are trading with a GMP of Rs 15 in the unlisted market.
Chat on WhatsApp
Request a call back
