A cable manufacturer for variety of industries, Cords Cable Industries has closed the day at Rs 139.45, up 3.30% over its offer price of Rs 135 on the NSE. This is the good listing in this week after bad listings of Reliance Power and J Kumar Infraprojects, both closed below issue price on listing day.
The share begun the day at Rs 143 and due to some spillover effect of poor listing of two stocks, it slipped below issue price, touched an intraday low of Rs 110.20 in early trade. But this spillover effect did not pressurise the stock for long as some buying has helped the stock to touch a high of Rs 151. The stock remained above the issue price for major part of the day.
It traded with volumes of 89,36,555 shares and the turnover was at Rs 124 crore.
Rakesh Malhotra, Joint MD of Cords Cable Industries, told CNBC-TV18 that FY08 profit is seen at Rs 15.5 crore and EPS at Rs 18. FY09 topline is seen at Rs 300 crore, and EPS at Rs 21. The company's current order book is at Rs 100 crore, he said.
On the BSE, the stock closed at Rs 138.30, with volumes of 1,05,18,929 shares after touching high/low of Rs 151 and Rs 113, respectively during the day.
The company had entered capital market with a public issue of 30.85 lakh shares at a price band of Rs 125-135 per equity share. The issue got subscribed 4.99 times.
Currently, CCIL manufactures cables upto 1.1 KV. It caters to a wide spectrum of cable users in various industries like power, steel, cement, fertilizers and chemicals, refinery / petroleum etc.
Its clients include BHEL, NTPC, Hindalco, ACC, HPCL, GAIL, TATA STEEL, Siemens, Honeywell, L&T, MRPL etc.
Source: Moneycontrol.com
Showing posts with label Cords Cable IPO. Show all posts
Showing posts with label Cords Cable IPO. Show all posts
Wednesday, February 13, 2008
Friday, January 25, 2008
Cords Cable IPO subscribed 5 times
The initial public offering (IPO) of Cords Cable Industries, a specialised cable manufacturer for variety of industries, has closed for subscription. The issue received bids for 1.54 crore equity shares as against 30.85 lakh shares on offer.
Public issue subscribed 4.99 times, as per NSE website. QIBs reserved portion subscribed 6.83 times, HNIs 5.11 times and retail 2.58 times.
The price band was between Rs 125 and Rs 135 per equity share. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
The public issue includes an employee reservation of 70,000 equity shares and the net issue to the public is 30,15,000 equity shares. 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.
Source: Moneycontrol.com
Public issue subscribed 4.99 times, as per NSE website. QIBs reserved portion subscribed 6.83 times, HNIs 5.11 times and retail 2.58 times.
The price band was between Rs 125 and Rs 135 per equity share. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
The public issue includes an employee reservation of 70,000 equity shares and the net issue to the public is 30,15,000 equity shares. 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.
Source: Moneycontrol.com
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