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Marco Cables & Conductors IPO Detail 2023

Marco Cables & Conductors IPO Detail 2023

Introduction

The Marco Cables & Conductors IPO will open on September 21 and close on September 25, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 18.73 crore through this public offering, consisting of 52 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 36 per share.

Marco Cables & Conductors Limited (“the Company”)

Marco Cables & Conductors Ltd. was incorporated in 1989 and is engaged in the business of manufacturing and selling wires, cables, and conductors in India, with an operating history of over 34 years in the power cable industry in India.

The company commenced its operations with the manufacturing of wires (with aluminum or copper conductor), XLPE or PVC cables, and aerial bunched cables; subsequently, it added AAAC (all aluminum alloy conductor) and ACSR (aluminum conductor steel reinforced) conductors and made its presence known in the industry.

The 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 in India.

They sell their products through a diversified sales and distribution mix, primarily by

  1. Securing government tenders for supply to government projects
  2. supply to EPC contractors for turnkey projects and
  3. Its dealer and distribution network and direct sales to a few private companies

Its products cover the entire range of voltages and transmission lines up to 1.1 KV. Its products are also certified as compliant with various quality standards, including those of the Bureau of Indian Standards (“BIS”) and the International Organization for Standardization (“ISO”).

Company Key Metrics

Earning Per Share (EPS)₹ 1.78 per Equity Share
Debt to Equity Ratio2.41
ROE22.41%
ROCE16.93%
P/E (x)20.22
Return on Net Worth (RoNW)17.98%

Objects of the Issue,

  1. Funding of capital expenditure requirements of the company towards the purchase of Solar Power System and 1+12 Rigid Stranding Machine.
  2. Funding Incremental Working Capital Requirements; and
  3. General corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth1,560.86944.75911.25
Total Assets6,993.445,954.625,658.84
Reserve & Surplus1,238.90655.34621.84
Total Borrowings3,757.703,665.193,522.22
Total Revenue5,693.725,665.314,282.91
Profit After Tax280.7133.4912.25
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 26 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 2.88 lakh shares of the offering. While Shreni Shares Private Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.

Issue TypeFixed Price Issue IPO
IPO Price₹ 36 per share
Face Value₹ 10 per share
Market Lot3,000 shares
Issue Size5,202,000 shares (aggregating up to ₹ 18.73 crores)
Fresh Issue2,601,000 shares (aggregating up to ₹ 9.36 crores)
Offer for Sale2,601,000 shares (aggregating up to ₹ 9.36 crores)
Listing AtNSE SME

Market Maker detail

Market makerShreni Shares
Market maker portion288,000 shares

Shareholding Pattern

Shareholding pre-issue16,098,000
Shareholding post issue18,699,000

IPO Reservation

CategoriesNo. of shares offered
Other shares offered50% of the net offer
Retail shares offered50% of the net offer

GMP: Marco Cables & Conductors IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Marco Cables & Conductors IPO

The issue opens for subscription on September 21, 2023, and closes for subscription on September 25, 2023 (both days inclusive). The basis of allotment will be finalised on September 28, 2023, and the refunds will be initiated on September 29, 2023. In addition, the demat credits are expected to happen on October 4, 2023, and the stock will be listed on the NSE SME on October 4, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateSeptember 21, 2023
Closing DateSeptember 25, 2023
Basis of AllotmentSeptember 28, 2023
Initiation of RefundsSeptember 29, 2023
A credit of shares to Demat A/cOctober 3, 2023
Listing DateOctober 4, 2023

Lot Size

The lot size of the Marco Cables & Conductors IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 108,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)13,000₹ 108,000
Retail (Maximum)13,000₹ 108,000
HNI (Minimum)26,000₹ 216,000

Promoters Holdings 

Mr. Sumit Sugnomal Kukreja, Mr. Sugnomal Mangandas Kukreja and Ms. Komal Sumit Kukreja are the promoters of the company.

Pre-issue Shares Holdings100%
Post-issue Shares Holdings72.08

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationMarco Cables & Conductors Limited
Shop No 100, Opposite Bhai Gangaram Market, Main Road, Ulhasnagar, Thane – 421005,
Phone: 0251 2530332
Email: [email protected]
Website: https://www.marcocables.com/index
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://ipo.bigshareonline.com/ipo_status.html
IPO Lead Manager(s)Shreni Shares Private Limited

FAQs

The Marco Cables & Conductors IPO price is ₹ 36 per share.

The minimum investment size is one lot for retail investors. One lot of the Marco Cables & Conductors IPO contains 3,000 shares of ₹ 108,000.

The finalisation of the basis of allotment for the Marco Cables & Conductors IPO will be done on September 28, 2023, and the allotted shares will be credited to your demat account by October 3, 2023. Check the Marco Cables & Conductors IPO allotment status.

The Marco Cables & Conductors IPO shares listing date is October 4, 2023.

Click here for more FAQs.

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