The script
surges 20 % post the listing
Mumbai, December
14, 2017: Jaipur based Dynamic Cables Limited, India’s leading manufacturer
of Cables and Conductors, became 212th SME Company to get listed on BSE
SME Platform. The script made a
strong debut and surged 20 percent, post the listing. Stock opened at Rs 48
against the IPO price of Rs 40 a share.
The Lead
Manager to the Issue is Hem Securities Limited, a leading player in SME IPOs
and the Registrar to the Offer is Bigshare Services Pvt. Ltd.
Commenting of the mementos occasion Mr.
Ashish Mangal, Managing Director, Dynamic
Cables Ltd said” “Getting a company listed is a significant
milestone for an entrepreneur and entrepreneurial journey. We at Dynamic Cables are
proud and delighted to have our company listed on the SME platform of Bombay
Stock Exchange. We began a humble journey 30 years ago by taking up
manufacturing of conductors in 1986. Today we are happy to see Dynamic Cables
has grown to become one of the leading player in the industry, preferred and
trusted manufacturer and suppliers of Cables & Conductors for private and
government clients in India and in overseas countries. Dynamic Group is
proud and delighted to get such a great response from the investors. Dynamic Cables raised Rs 23.38 Cr from Its
IPO comprising 58, 44,000 Equity Shares of
face value of Rs. 10 each for cash at price of Rs. 40 per share. The issue which opened for bids at BSE
SME platform on December 4, 2017, was subscribed 69.94 times. The HNI and RII portion subscribed 120.94
and 26.24 times, respectively. Proceeds of IPO will be utilized towards
working capital requirement, general corporate and issue expanse purpose. We thank
all our investors, Merchant Banker for their valuable support extended for
making our SME IPO a grand success”
Mr Prateek Jain & Mr Gaurav
Jain, Director(s) of Hem Securities Limited, said, “We are extremely pleased
with the strong interest and enthusiasm around the IPO of DCL, which is a
reflection of the investors’ confidence in the SME - Primary Markets. India is
a country of SME companies which generate a lot of employment in the country and
are crucial for economic growth. The access to equity capital has certainly
been one of the strong points which is why you are seeing a very robust pipeline of SME
IPOs. The awareness created in the market about growth opportunity in these
companies is attracting investors due to which 2017 has been a bumper year for
public offers by small and medium companies”
About
the Company
Dynamic
Cables Limited The Company is engaged in manufacturing of Cables and Conductors
which widely include manufacturing of Low Voltage and High Voltage Power
Cables, Till 2006, the company was primarily operating in the domestic market,
supplying to electricity boards within India. However in a span of 11 years the
company has the distinction of supplying its products to around 30 countries.
Dynamic cables is approved by the state owned electric utilities company
“POWERGRID” and is also approved With BHEL, Larson & Toubro Ltd, TATA
Projects Ltd, North Western Railways, Public Works Department, Maharashtra
along with some of the major state electricity boards in India. Company’s
products are also widely being used amongst various Indian private EPC
Contractors which include: Gammon India, Jaguar Overseas, Mohan Energy,
L&T, TATA, Bajaj, Voltas etc.
For
the fiscal year ended on March 31, 2017, March 31, 2016 and March 31, 2015 the
total revenue of our Company stood at INR 260.39 cr, INR 267.87 cr and INR 299.99 crore respectively. Further, our
PAT for the fiscal year ended on March 31, 2017, 2016 and 2015 as per Restated
Financial Statements were INR 2.54 crore, INR 6.80 cr and INR 7.92
respectively. The Company has been able to increase its revenue and profit from
fiscal 2014 to fiscal 2017 at a CAGR of 14. 97 % and 71.50%, respectively.
For more information, please
contact :
Mr. Aryan Prem Rana
AARYANA MATASCO
Email ID: smeipos@aaryanamatasco.com;
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