Marco Cables & Conductors IPO is a fixed price issue of Rs 18.73 crores. The issue is a combination of fresh issue of 26.01 lakh shares aggregating to Rs 9.36 crores and offer for sale of 26.01 lakh shares aggregating to Rs 9.36 crores.
Marco Cables & Conductors IPO bidding opened for subscription on September 21, 2023 and will close on September 25, 2023. The allotment for the Marco Cables & Conductors IPO is expected to be finalized on Thursday, September 28, 2023. Marco Cables & Conductors IPO will list on NSE SME with tentative listing date fixed as Wednesday, October 4, 2023.
Marco Cables & Conductors IPO price is ₹36 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹216,000.
Shreni Shares Private Limited is the book running lead manager of the Marco Cables & Conductors IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Marco Cables & Conductors IPO is Shreni Shares.
Refer to Marco Cables & Conductors IPO RHP for detailed information.
Marco Cables & Conductors IPO Details
| IPO Date | September 21, 2023 to September 25, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹36 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 5,202,000 shares (aggregating up to ₹18.73 Cr) |
| Fresh Issue | 2,601,000 shares (aggregating up to ₹9.36 Cr) |
| Offer for Sale | 2,601,000 shares of ₹10 (aggregating up to ₹9.36 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 16,098,000 |
| Share holding post issue | 18,699,000 |
| Market Maker portion | 288,000 shares Shreni Shares |
Marco Cables & Conductors IPO Reservation
Marco Cables & Conductors IPO a total of 5,202,000 shares are offered. RII: 2,457,000 (47.23%), NII: 2,457,000 (47.23%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 288,000 (5.54%) |
| Other Shares Offered | 2,457,000 (47.23%) |
| Retail Shares Offered | 2,457,000 (47.23%) |
| Total Shares Offered | 5,202,000 (100%) |
Marco Cables & Conductors IPO Timeline (Tentative Schedule)
Marco Cables & Conductors IPO opens on September 21, 2023, and closes on September 25, 2023.
| IPO Open Date | Thursday, September 21, 2023 |
| IPO Close Date | Monday, September 25, 2023 |
| Basis of Allotment | Thursday, September 28, 2023 |
| Initiation of Refunds | Friday, September 29, 2023 |
| Credit of Shares to Demat | Tuesday, October 3, 2023 |
| Listing Date | Wednesday, October 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2023 |
Marco Cables & Conductors IPO Lot Size
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹108,000 |
| Retail (Max) | 1 | 3000 | ₹108,000 |
| HNI (Min) | 2 | 6,000 | ₹216,000 |
| Lot Size Calculator |
Marco Cables & Conductors IPO Promoter Holding
Mr. Sumit Sugnomal Kukreja, Mr. Sugnomal Mangandas Kukreja and Ms. Komal Sumit Kukreja are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 72.18% |
About Marco Cables & Conductors Limited
Incorporated in 1989, Marco Cables & Conductors Limited is engaged in the business of manufacturing and selling wires, cable wires, and conductors in India.
The company’s product list includes:
- LT Aerial Bunched Cables: It is used for overhead Power Distribution. It provides high safety and reliability, lower power losses, and ultimate system economy by reducing installation, maintenance, and operating costs, best for installation in difficult terrains such as hilly areas forest areas, coastal areas, etc.
- LT PVC Cables.
- AAAC Conductor: Made from aluminum-magnesium-silicon alloy of high electrical conductivity containing Magnesium (0.6-0.9%) and silicon (0.5-0.9%) to give it better mechanical properties after treatment.
- LT XLPE Cables: These are manufactured with CU/AI Conductor with XLPE Insulation, Laid up, Inner Taped/Extruded. The armoring is of galvanized mild steel wires/strips. The final outer sheath with high-grade PVC. All are as per relevant IS specifications.
- ACSR Conductors: ACSR conductor consists of a solid or stranded steel core surrounded by strands of aluminum (E.C. GRADE). ACSR Conductor is available in a wide range of steel, containing carbon from 0.5% to 0.85 %. ACSR Conductor has high Tensile Strength making it useful for for river crossings, overhead ground wires, installations involving extra long spans, etc.
Marco Cables & Conductors’ manufacturing unit is located at Nasik, Maharashtra, with a combined installed production capacity of 18,000 Kms p.a. as of August 07, 2023.
The company recorded Rs. 5,676.79 Lacs, Rs. 5,641.00 Lacs, and Rs. 4,239.18 Lacs in revenue from operations in fiscal 2023, 2022, and 2021 respectively.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 5,658.84 | 5,954.62 | 6,993.44 |
| Revenue | 4,282.91 | 5,665.31 | 5,693.72 |
| Profit After Tax | 12.25 | 33.49 | 280.71 |
| Net Worth | 911.25 | 944.75 | 1,560.86 |
| Reserves and Surplus | 621.84 | 655.34 | 1,238.90 |
| Total Borrowing | 3,522.22 | 3,665.19 | 3,757.73 |
Amount in ₹ Lakhs
Key Performance Indicator
Marco Cables & Conductors IPO Market Cap is Rs 67.32 Cr and P/E (x) is 20.22.
| KPI | Values |
|---|---|
| P/E (x) | 20.22 |
| Post P/E (x) | 24 |
| Market Cap (₹ Cr.) | 67.32 |
| ROE | 22.41% |
| ROCE | 16.93% |
| Debt/Equity | 2.41 |
| EPS (Rs) | 1.78 |
| RoNW | 17.98% |
Check Marco Cables & Conductors IPO Peer Comparison here.
Objects of the Issue (Marco Cables & Conductors IPO Objectives)
The company proposes to utilize the Net Proceeds from the Offer towards funding the following objects:
- Funding of capital expenditure requirements of the company towards the purchase of Solar Power System and 1+12 Rigid Stranding Machine.
- Funding Incremental Working Capital Requirements; and
- General corporate purposes.
Marco Cables & Conductors IPO Review (May apply)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It has posted static top lines for FY22 and FY23, but surprised with boosted bottom line for FY23. Based on FY23 super earnings, the issue appears fully priced. Well-informed/risk seekers may park funds for the medium to long term. Read detail review…
Marco Cables & Conductors IPO Subscription Status (Bidding Detail)
The Marco Cables & Conductors IPO is subscribed 3.48 times on Sep 22, 2023 7:29:00 PM. The public issue subscribed 5.13 times in the retail category, times in the QIB category, and 1.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 1.82 |
| Retail | 5.13 |
| Total | 3.48 |
Total Application : 4,200 (5.13 times)
Marco Cables & Conductors IPO Prospectus
Marco Cables & Conductors IPO Contact Details
Marco Cables & Conductors Limited
Shop No 100, Opposite Bhai Gangaram Market,
Main Road, Ulhasnagar,
Thane – 421005,
Phone: 0251 2530332
Email: investors@hmtcable.com
Website: https://www.marcocables.com/index
Marco Cables & Conductors IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html