Cords Cable Industries, a leading ISO 9001-2000 certified specialised cable manufacturer for variety of industries, has opened for subscription with an initial public offering (IPO) of 30,85,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts opinion are mixed.
The issue will close for subscription on January 24, 2008. The price band has been fixed between Rs 125 and Rs 135 per equity share. The issue would constitute 27% of the fully diluted post-issue paid-up capital of the company and the net issue would constitute 26.38%.
At present, CCIL manufacture cables upto 1.1 KV for various applications covering most segments of users including industrial, utility and buildings. It caters to a wide spectrum of cable users in various industries like power, steel, cement, fertilizers and chemicals, refinery / petroleum and many others. Its clients are from diverse industries and include names such as BHEL, NTPC, Hindalco, ACC, HPCL, GAIL, TATA STEEL, Siemens, Honeywell, L&T, MRPL and others.
The book running lead manager to the issue is Collins Stewart Inga Private Limited.
