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The scrip was listed at Rs 90, a discount of 10% compared with the initial public offer (IPO) price. The stock is currently frozen in its lower limit of 5% over its listing price.
The counter hit a high of Rs 90 and a low of Rs 85.50. About 6.72 lakh shares of the company changed hands at the counter.
DCG Cables & Wires' IPO was subscribed 15.82 times. 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 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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