The initial public offer (IPO) of DCG Cables & Wires received bids for 75,08,400 shares as against 49,99,200 shares on offer, as per NSE data as of 17:00 hours on Monday, (8 April 2024). The issue was subscribed 1.5 times.

The issue opened for bidding on Monday, (8 April 2024) and it will close on Wednesday, (10 April 2024). The price of the IPO is fixed at Rs 100 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on NSE's SME platform.

The IPO comprises fresh issue of 49,99,200 shares. The promoter and promoter shareholding will dilute to 72.46% from 100% pre-IPO.

About 2,52,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 47,47,200 equity shares. The issue and the net issue will constitute 27.54% and 26.16% respectively of the post offer paid up equity share capital of the company.

The company intends to utilize the net proceeds for capital expenditure for building construction, long-term working capital requirement and for general corporate purposes.

DCG Cables & Wires are manufacturer of copper cables and wires. It primarily focused on manufacturing of different types of copper cables which finds application in transformers. Its product portfolio consists of copper strips, paper covered copper strips and wires (Kraft/crepe/nomex/mica) bare copper wires and strips, copper tapes and fiber glass copper. The company has 3 manufacturing unit facilities in Gujarat. As on 29 February 2024, the company has 69 employees.

The company recorded revenue from operations of Rs 76.33 crore and net profit of Rs 8.47 crore for the period as on 29 February 2024.