Marco Cables IPO: GMP, subscription status on day 3, other key details
₹36 per equity share of face value of ₹10 each. Marco Cables IPO lot size is 3000 equity shares and in multiples of 3000 equity shares thereafter. Marco Cables & Conductors Ltd IPO details A fresh issue of 2,601,000 equity shares totaling ₹9.36 crore and an offer for sale (OFS) component of 2,601,000 shares totaling ₹9.36 crore make up the ₹18.73 crore-worth Marco Cables IPO.
Sumit Sugnomal Kukreja, Sugnomal Mangandas Kukreja, and Komal Sumit Kukreja are the company's promoters. The company intends to use the net proceeds from the offering to fund its capital expenditure needs, including the procurement of a solar power system and a 1+12 rigid stranding machine, as well as general corporate objectives. Shreni Shares Private Ltd is the book running lead manager of the Marco Cables IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
According to the Red Herring Prospectus (RHP), the company is engaged in the business of manufacturing and selling of wires, cables and conductors in India, with an operating history of over 34 years in power cable industry in India. The company recommends its operations with manufacturing of wires (with aluminium / copper conductor), XLPE /PVC cables, Aerial Bunched Cables, subsequently they included AAAC (All Aluminium Alloy Conductor) and ACSR (Aluminium Conductor Steel Reinforced) Conductors and have made our presence in the industry. Marco Cables IPO Subscription Status today was 11.67 times on day 3, so far.
Read more on livemint.com
