DCG Cables & Wires IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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DCG Cables & Wires Limited IPO GMP

DCG Cables & Wires IPO is a fixed-price offering totaling Rs 49.99 crores, comprising entirely of fresh issue shares amounting to 49.99 lakh.

The IPO subscription opened on April 8, 2024, and will conclude on April 10, 2024. Allotment is anticipated to be finalized by Friday, April 12, 2024, with listing on NSE SME tentatively scheduled for Tuesday, April 16, 2024.

Priced at ₹100 per share, the minimum application lot size is 1200 shares, requiring a minimum investment of ₹120,000 for retail investors and ₹240,000 for HNIs.

Interactive Financial Services Ltd serves as the book running lead manager, with Bigshare Services Pvt Ltd acting as the registrar. Nikunj Stock Brokers operates as the market maker for the IPO

The present Public Issue 49,99,200 Equity Shares at an issue price of Rs. 100.00/- per Equity Share.

Company proposes to utilize the Net Proceeds:

Capital Expenditure for building construction.
Working capital requirement.
General Corporate Purpose.
Meeting Public Issue Expenses.

Building Construction: The Company has decided to shift all the three manufacturing units at Bavla near Ahmedabad. The Company had taken on lease the land admeasuring 8308 Sq. Mts for 7 years at a monthly rent of Rs. 20,000 from Devang H. Patel, the promoter of the Company. The total cost of the building to be constructed will be R. 610.29 lacs and out of that the Company had spent 73.98 lacs upto November 30, 2023.