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News Details

15/09/2023 14:40

Marco Cables & Condu announces launch of initial public offering

Marco Cables & Conductors Ltd. has announced public offering of 5202000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 26.00 per share. The gross proceeds of the issue are expected to be Rs 1,872.72 lakhs.

The company's initial public offer (IPO) will open on 21 September 2023 and is expected to close on 25 September 2023, subject to customary closing conditions.

The IPO includes a fresh Issue of 5202000 Equity Shares of the Company at an price of Rs 36.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 3000 shares with bids in multiples of 3000.

Marco Cables & Conductors Ltd. anticipates using the proceeds of the issue for (i) Solar Power System and (ii) + Rigid Stranding Machine Funding Incremental Working Capital Requirements General corporate purposes.

Shreni Shares Ltd. as lead manager & Bigshare Services Private Limited. is the registrar, to the issue.