The Hindu Business Line : Cords Cable IPO price band at Rs 125-135

(From right) Mr Naveen Sawhney, Managing Director, Cords Cable Industries Ltd, with Mr Rakesh Malhotra, Joint Managing Director, at a press conference to announce the company’s IPO in Mumbai on Monday. —

Our Bureau

Mumbai, Jan. 14 Cords Cable Industries Ltd, a manufacturer of specialised cable for a variety of industries, will be entering the capital markets with an IPO of 3085000 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent book-building process.

The issue will be open for subscription from January 21-24.

The price band is fixed between Rs 125 and Rs 135 per equity share.

The equity shares of the company will be listed on both the NSE and the BSE.

This issue will include 70000 shares reserved for employees and the net issue to the public will be 3015000 shares.

The qualified institutional buyers will be allotted up to 50 per cent of the total equity float. While the non-institutional and retail bidders will be allotted 15 per cent and 35 per cent respectively.

The objects of the issue include setting up of new production facilities, meeting working capital requirements, general corporate purposes and also to meet the issue expenses.

The sole book-running lead manager to the issue is Collins Stewart Inga Private Ltd.

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