Marco Cables & Conductors Ltd Share Price – NSE

Cables, Small Cap

Marco Cables & Conductors will hold a meeting of the Board of Directors of the Company on 14 November 2023.

Powered by Capital Market - Live News

Marco Cables & Conductors will hold a meeting of the Board of Directors of the Company on 14 November 2023.

Powered by Capital Market - Live News

The scrip was listed at Rs 38.70, a premium of 7.5% compared with the issue price. The scrip hit a high of Rs 40.60 and a low of Rs 37.05. About 19.74 lakh shares of the company changed hands at the counter.

The issue was subscribed 28.20 times. The IPO opened for bidding on Thursday (21 September 2023) and closed on Monday (25 September 2023). The price of the IPO was fixed at Rs 36 per share. The IPO comprised fresh issue of 26,01,000 shares and an offer for sale (OFS) up to Rs 9.36 crore by existing shareholders. The promoter and promoter shareholding diluted to 72.18% from 100% pre-IPO.

The company intends to utilize the net proceeds for funding of capital expenditure requirements of the company towards purchase of Solar Power System and 1 + 12 Rigid Stranding Machine, funding incremental working capital requirements and general corporate purposes.

Marco Cables and Conductors engaged in the business of manufacturing and selling of wires, cables wires and conductors in India. The company has been manufacturing XLPE, PVC & Aerial Bunched Cables for last 3 decades. Recently, it has started ACSR - Aluminium Conductor Steel Reinforced, AAAC - All Aluminium Alloy Conductor, ABC - (Aerial Bunched Cable) for distribution & transmission power lines. Majority of its products are supplied to electricity boards of different states like Maharashtra, Gujarat, Tamil Nadu, Telangana, Haryana, Chhattisgarh, Madhya Pradesh etc. and turnkey contractors of India

The company recorded revenue from operations of Rs 56.76 crore and net profit of Rs 2.80 crore for the period as on 31 March 2023.

Powered by Capital Market - Live News