Shilpi Cable Technologies Limited is entering into primary market with an Initial Public Offer (IPO) of 38555268000 Equity Shares of Rs 10 each. The IPO is opening on 22nd Mar 2011 and the shares will be available for subscription up to 25th Mar 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 65 – Rs. 69 Per Equity Share. The company is likely to raise around Rs 55.88 Crore through the issue at the upper level of price band. Shilpi Cable Technologies Limited is a Radio Frequency (RF) cable manufacturer company. The company was established in 2006. Its RF cables are widely used in telecom, automobile and power sectors. Company also manufactures Low Voltage Power cables and Cable Accesories in its plant located at Alwar, Rajasthan.
The proceeds of the IPO are proposed to be utilized for capital expenditure on Cable/ wire assembly shop, capital expenditure on tools for 3G enabling, augmenting cable manufacturing capabilities, long term working capital requirement for the proposed new businesses, investment in the Subsidiary of the Company, M/s Shilpi Cabletronics Ltd, General corporate purposes and expenses of the issue.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Issue Open : 22nd Mar 2011 – 25th Mar 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 38555268000 Equity Shares of Rs 10 each
Issue Size : Rs 55.88 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 65 – Rs. 69 Per Equity Share
Minimum Bid Quantity : 79 Shares (Rs. 5451 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 2844 Shares (Rs. 196524 with 36 Lots ) @ upper level of price band
Listing At : BSE, NSE
The Sole Book Running Lead Manager (BRLM) to the offer is D and A Financial Services Private Limited.
Registrar of the Issue : Beetal Financial & Computer Services (P) Limited, New Delhi.
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