Cords Cable IPO makes debut on Jan. 21 at price band of Rs. 125-135 per share

Cords Cable Industries Limited (CCIL), a leading cable manufacturer for a variety of industries, will enter the capital market with an initial public offering (IPO) of 3,085,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
The company has fixed the price band between Rs 125-135 per share. The issue will open for subscription on Jan. 21, 2008, and close on Jan. 24, 2008.
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 per cent of the fully diluted post-issue paid-up capital and the net issue 26.38 per cent.

Recently, Indian rating agency, Credit Analysis & Research (CARE) has assigned “IPO Grade 3/5”, to the proposed initial public offer of the Cord Cable Industries Limited.

CCIL was established in 1987 by a group of industry professionals with an objective of catering to a growing requirement for high quality customized cables

The New Delhi-based company has a diversified clientele and product portfolio. It supplies cables across various industries to various large organizations of diverse sectors such as steel, power, chemical, cement, fertilizer, refineries, telecom, etc. The company offers an extensive range of high quality control & instrumentation cables, power cables and special cables for oil wells, etc., conforming to Indian and international standards.

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 company had posted a net profit of Rs 7.01 crore during FY07. The shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The book running lead manager (BRLM) to the issue is Collins Stewart Inga.