DCG Cables & Wires Limited IPO Opens on April 08, 2024 - World News Network

PNN
Mumbai (Maharashtra) [India], April 4: DCG Cables & Wires Limited, a manufacturer of copper cables and wires, has announced its plan to go public with an Initial Public Offering on April 08, 2024. The company is aiming to raise Rs 49.99 Crores through this IPO, with shares set to be listed on the NSE Emerge platform.
The issue size is Up to 49,99,200 equity shares at face value of Rs 10 each.
Equity Share Allocation
– Non-Institutional Investors (NII) – Up To 23,73,600Equity Shares
– Retail Individual Investors (RII) – Up To 23,73,600Equity Shares
– Market Maker – Up To 2,52,000 Equity Shares
The net proceeds from the IPO will be utilized for Funding Capital Expenditure for Building Construction, Long term Working Capital Requirements, and General Corporate Expenses. The Issue closes on April 10, 2024.
The Lead Manager to the Issue is Interactive Financial Services Limited. The Registrar to the Issue is Bigshare Services Private Limited.
Devangbhai Patel, Managing Director of DCG Cables & Wires Limited expressed, “As we embark on this exciting journey with the launch of our Initial Public Offering, DCG Cables & Wires Limited stands poised for a transformative chapter in history. We are a manufacturer of copper cables and wires, known for our commitment to quality and customer satisfaction. Our expansion plans include the establishment of a new manufacturing plant in Gujarat, which will significantly increase our production capacity and allow us to better serve our customers growing demands.
The net proceeds from the IPO will be utilized for Funding Capital Expenditure for Building Construction, Long-Term Working Capital Requirements, and General Corporate Expenses. This IPO marks an important milestone in our journey, unlocking exciting opportunities as we reaffirm our commitment to excellence, innovation, and growth in the copper products industry.”
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