praveen
15-01-2008, 07:35 AM
The book-building process of Cords Cable Industries Ltd’s initial public offering of 30,85,000 equity shares of Rs 10 each will open on Jan 21 and close on Jan 24. The price band has been fixed between Rs 125 and Rs 135 per share.
The shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
The public issue includes an employee reservation of 70,000 shares and the net issue to the public is 30,15,000 shares. The issue would constitute 27 per cent of the fully diluted post-issue paid-up capital and the net issue 26.38 per cent.
Of the total equity float, up to 50 per cent of the net issue shall be allocated on a proportionate basis to qualified institutional buyers (including 5% reserved for mutual funds). Further, 15 per cent of the net issue will be reserved for non-institutional bidders and 35 per cent available for retail individual bidders.
The issue has been graded CARE IPO Grade 3/5 by Credit Analysis & Research.
Cords Cable is a leading player in the cable industry. The company manufactures cables up to 1.1 KV for various applications including industrial, utility and buildings. Its clients include BHEL, NTPC, Hindalco, ACC, HPCL, GAIL, Tata Steel, Siemens, Honeywell, L&T, MRPL.
The company's revenue has grown from Rs 16.04 crore in FY 2003 to Rs 104.29 crore in FY 2007 and the net profit during the same period has grown from Rs 13.94 lakh to Rs 7.01 crore.
The book running lead manager to the issue is Collins Stewart Inga.
The shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
The public issue includes an employee reservation of 70,000 shares and the net issue to the public is 30,15,000 shares. The issue would constitute 27 per cent of the fully diluted post-issue paid-up capital and the net issue 26.38 per cent.
Of the total equity float, up to 50 per cent of the net issue shall be allocated on a proportionate basis to qualified institutional buyers (including 5% reserved for mutual funds). Further, 15 per cent of the net issue will be reserved for non-institutional bidders and 35 per cent available for retail individual bidders.
The issue has been graded CARE IPO Grade 3/5 by Credit Analysis & Research.
Cords Cable is a leading player in the cable industry. The company manufactures cables up to 1.1 KV for various applications including industrial, utility and buildings. Its clients include BHEL, NTPC, Hindalco, ACC, HPCL, GAIL, Tata Steel, Siemens, Honeywell, L&T, MRPL.
The company's revenue has grown from Rs 16.04 crore in FY 2003 to Rs 104.29 crore in FY 2007 and the net profit during the same period has grown from Rs 13.94 lakh to Rs 7.01 crore.
The book running lead manager to the issue is Collins Stewart Inga.