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Business News/ Markets / Ipo/  DCG Cables & Wires IPO to open on April 8: Check key dates, price band, other details
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DCG Cables & Wires IPO to open on April 8: Check key dates, price band, other details

DCG Cables & Wires IPO: The manufacturer of copper cables and wires aims to raise ₹49.9 crore through the public issue which will be open for bidding till April 10,2024.

DCG Cables & Wires IPO will open for subscription on April 8. (Image Credit: https://dcgcableswiresltd.com/) (DCG Cables & Wires IPO)Premium
DCG Cables & Wires IPO will open for subscription on April 8. (Image Credit: https://dcgcableswiresltd.com/) (DCG Cables & Wires IPO)

DCG Cables & Wires IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) DCG Cables And Wires Limited will open for subscription on April 8, 2024. The manufacturer of copper cables and wires aims to raise 49.9 crore through the public issue which will be open for bidding till April 10,2024.

DCG Cables and Wires Ltd is involved in the manufacturing of copper cables and wires, with a primary focus on various types of copper cables utilized in transformers. Their product portfolio includes bare copper strips, conductors, wires, and paper-covered copper conductors, tailored for optimal conductivity across applications.

Also Read: IPO rush: Debutant count reached 16-year high in FY24

DCG Cables & Wires IPO Details:

DCG Wires And Cables IPO is a fixed price issue of 49.99 crore. The issue is entirely a fresh issue of 49.99 lakh shares. DCG Wires And Cables IPO price is 100 per share. The minimum lot size for an application is 1,200 shares, which means investors can bid for a minimum of 1,200 shares and in multiples thereof. The minimum amount of investment required by retail investors is 1,20,000. 

The company has reserved up to 23,73,600 equity shares for non-institutional investors (NIIs), up to to 23,73,600 equity shares  for retail individual investors and up to 2,52,000 equity shares for the market maker portion in the issue.

The lead manager to the issue is Interactive Financial Services Limited. The registrar to the issue is Bigshare Services Private Limited. The market maker for DCG Wires And Cables IPO is Nikunj Stock Brokers.

The allotment for the DCG Wires And Cables IPO is expected to be finalized on Friday, April 12, 2024. Shares of DCG Wires And Cables will list on NSE SME with tentative listing date fixed as Tuesday, April 16, 2024. 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.

Also Read: Jay Kailash Namkeen IPO share allotment to be finalised today: How to check status? A step-by-step guide

DCG Cables & Wires Company Details:

DCG Cables & Wires provide fiber glass-covered copper strips and wires for enhanced durability. DCG primarily serves transformer manufacturing companies in India, emphasizing customer relationships for market presence. Operating three manufacturing units in Ahmedabad and Vadodara, they possess a combined installed capacity for various copper products. DCG is also expanding with a new plant in Gujarat. 

The company's sales predominantly originate from Gujarat, with recent expansion into Maharashtra and Karnataka regions. DCG Cables and Wires Ltd. demonstrates a strong commitment to quality and growth in the copper products industry.

In fiscal 2022-23, DCG Cables and Wires achieved a revenue of 5,452.47 lakhs with an earnings before interest, tax, depreciation and amortization (EBITDA) of 355.24 lakhs and a profit after tax of 172.11 lakhs. In February 2024, the company achieved a revenue of 7,633.22 lakhs and an EBITDA of 1,490.78 lakhs and a profit of 847.11 lakhs.

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ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 04 Apr 2024, 05:04 PM IST
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