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The initial public offer (IPO) of DCG Cables & Wires received bids for 7,91,25,600 shares as against 49,99,200 shares on offer. The issue was subscribed 15.82 times.
The Retail Individual Investors (RIIs) category put in bids for 5,15,11,200 shares. The Non Institutional Investors (NIIs) category put in bids for 2,59,63,200 shares. The Qualified Institutional Buyers (QIBs) category put in bids for 16,51,200 shares.
The issue opened for bidding on 8 April 2024 and it closed on 10 April 2024. The price of the IPO was fixed at Rs 100 per share. The equity shares will list on NSE's SME platform.
The IPO comprised fresh issue of 49,99,200 shares. The promoter and promoter shareholding diluted to 72.46% from 100% pre-IPO.
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.
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