The shares of DGC Cables and Wires listed on the NSE SME platform with a lower ticket of 10% on Tuesday. The stock debuted at Rs 90 as against a project ticket of Rs 100.
Sooner than the itemizing, the company's shares traded with a premium of Rs 15 in the unlisted market.
The IPO, which modified into fully a recent equity order of 49.Ninety nine lakh shares, purchased decent response from investors with a subscription of 16 cases at conclude.
The accept proceeds from the overall public provide will seemingly be frail for capital expenditure, lengthy bustle working capital requirement and frequent company capabilities.
The corporate is a manufacturer of copper cables and wires. Its major focus is on manufacturing of varied sorts of copper cables which finds utility in Transformers. The product portfolio contains copper strips, paper lined copper strips and wires.
Additionally Read: Ramdevbaba Solvent IPO: Test order dimension, ticket band, GMP and varied facts
DGC said it takes pleasure in providing a gigantic series of copper products. Our products encompass naked copper strips, conductors, and wires, guaranteeing optimal conductivity for various capabilities. We also provide paper-lined copper conductors in both rectangular and spherical shapes, as properly as multi-paper-lined copper conductors and connection cables designed particularly for transformers.
For added durability, the company presents fiber glass-lined copper strips and wires. Additionally, the copper submersible wires and strips are ultimate for submersible capabilities. It also supplies twin and triple bunched paper-lined copper strips and bunch conductors.
The corporate primarily supplies its products to the transformer manufacturing companies in India and our major marketing scheme is to assemble and preserve proper relationships with our customers.
Manufacturing is emerging as an integral pillar in the country’s financial increase, attributable to the efficiency of key sectors like automotive, engineering, chemical substances, pharmaceuticals, and client durables. The Indian manufacturing industry generated 16-17% of India’s GDP pre-pandemic and is projected to be one of the quickest rising sectors.
For the duration ended February 2024, the company clocked revenues of Rs 76.33 crore and accept income of Rs 8.47 crore.
Interactive Financial Products and companies acted because the lead supervisor to the order and Bigshare Products and companies modified into the registrar.
