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Marco Cables IPO Subscribed 1.33 Times On Day One

Power sector firm Marco Cables which manufactures wire, cables and conductors, subscribed 1.33 times on its day one on public subscription

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The initial public offering (IPO) of Marco Cables & Conductors opened for public subscription on 21 September 2023 and will conclude on 26 September.

The price range for the IPO of Marco Cables was fixed at Rs 36 per equity share with a face value of Rs 10. The minimum lot size for Marco Cable's IPO is 3,000 equity shares, and subsequent lots are in multiples of 3,000 equity shares.

The IPO is valued at Rs 18.73 crore and consists of a fresh issuance of 2,601,000 equity shares worth Rs 9.36 crore and an offer-for-sale (OFS) component of 2,601,000 shares at Rs 9.36 crore.

The promoters of the firm are Komal Sumit Kukreja, Sugnomal Mangandas Kukreja, and Sumit Sugnomal Kukreja.

Post the IPO, the promoter’s holding would reduce to 72 per cent.

The Marco Cables IPO's registrar is Bigshare Services, while the book-running lead manager is Shreni Shares Private.

The firm plans to utilise the net proceeds from the sale to pay for general corporate goals as well as its capital expenditure requirements, which include the purchase of a solar power system.

With over three decades of operational experience in India's power cable sector, the firm is involved in the manufacture and sale of wires, cables, and conductors.

Marco Cables IPO Subscription Status today is 1.33 times on day one. The retail portion was subscribed 1.58 times, and the non-institutional buyers’ portion was subscribed 1.08 times. The company has received bids for 65,37,000 shares against 5,202,000 shares on offer.

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ipo nifty sensex investment trading stock market power sector