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Business News/ Markets / Ipo/  DCG Cables and Wires share price makes a weak debut, stock opens with 10% discount at 90 apiece on NSE SME
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DCG Cables and Wires share price makes a weak debut, stock opens with 10% discount at ₹90 apiece on NSE SME

DCG Cables and Wires share price on NSE SME debuted weakly at ₹90, 10% lower than the issue price of ₹100. The IPO was oversubscribed by 16.96 times on day three.

DCG Cables and Wires share price lists on NSE SME today, (https://dcgcopper.com/)Premium
DCG Cables and Wires share price lists on NSE SME today, (https://dcgcopper.com/)

DCG Cables and Wires share price made a weak debut on NSE SME today. On NSE SME, DCG Cables and Wires share price opened at 90, which is 10% lower than the issue price of 100.

DCG Cables and Wires IPO opened for subscription on Monday, April 8, and closed on Wednesday, April 10. The price band for the issue has been fixed at 100 per share, with a face value of 10. The DCG Cables and Wires IPO lot size was 1,200 equity shares, which investors may bid on at least. On day three of the DCG Cables and Wires IPO, the subscription status was 16.96 times.

Established in 2017, DCG Cables and Wires produces copper cables and wires for Indian transformer makers.

Also Read: DCG Cables and Wires Ltd IPO allotment finalised today; latest GMP, 4 steps to check status

The firm offers a variety of paper-covered copper conductors and connecting cables, copper strips in both round and rectangular forms, copper tapes, bare copper wires and strips, and wires made of copper and fiber glass copper.

Based in Odhav, Ahmedabad; Kubadthal, Ahmedabad; and Waghodia, Vadodara, the company operates three manufacturing facilities with a combined capacity of 5,868 MT for bare copper wire and strip; 1,404 MT for paper-coated copper strips and wires; 1,512 MT for cable wires; 5,760 MT for copper rods; 10,080 MT for flat copper wires; 972 MT for submersible wires; and 540 MT for glass fiber coated copper strips.

Also Read: Teerth Gopicon share price makes a positive debut, stock opens with 12.6% premium at 125 apiece on NSE SME

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DCG Cables and Wires Ltd IPO details

The 49.99 crore DCG Cables and Wires Ltd IPO consists of a new issuance of 49,99,200 equity shares with a face value of 10. There isn't a offer-for-sale component.

The firm intends to apply the net proceeds of the offering to the following purposes: finance working capital requirements, capital expenditure for building development, general corporate purposes, and payment of public issue expenses.

The DCG Cables and Wires IPO's registrar is Bigshare Services Pvt Ltd, and Interactive Financial Services Ltd is the book running lead manager. For the DCG Cables and Wires IPO, Nikunj Stock Brokers is the market maker.

Also Read: DCG Cables & Wires Ltd IPO: Issue booked 16.96 times on Day 3 led by retail investors, NIIs ; check GMP

DCG Cables and Wires Ltd IPO GMP today 

DCG Cables IPO GMP or grey market premium was 0, which meant shares were trading at their issue price of 100 with no premium or discount in the grey market according to investorgain.com

Today's IPO GMP points down and is expected to decrease further based on the activity of the grey market during the past 15 days. According to experts at investorgain.com, the lowest GMP is 0 and the maximum GMP is 18.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: DCG Cables & Wires IPO to open on April 8: Check key dates, price band, other details

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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Published: 16 Apr 2024, 10:04 AM IST
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