IPO Details
Bidding Dates
21 Sep '23 - 25 Sep '23
Minimum Investment
₹108,000 / 1 Lots ( 3000 Shares )
Price Range
₹36
Maximum Investment
₹108,000 / 1 Lots ( 3000 Shares )
Retail Discount
Not Applicable
Issue Size
₹18.73 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 21, 2023
IPO Closing Date
Sep 25, 2023
Basis of Allotment
Sep 28, 2023
Initiation of Refunds
Sep 29, 2023
Credit of Shares to Demat
Oct 3, 2023
IPO Listing Date
Oct 4, 2023
UPI mandate confirmation
Sep 25, 2023
About Marco Cables and Conductors Ltd
Marco Cables and Conductors was incorporated on April 13, 1989. It is engaged in the business of manufacturing and selling wires, cables wires and conductors in India. They started by manufacturing wires, XLPE/PVC cables, etc. Subsequently, they included AAAC (All Aluminium Alloy Conductor) and ACSR (Aluminium Conductor Steel Reinforced) Conductors for power lines. For the last 3 decades, it has been involved in the manufacturing of XLPE, PVC & Aerial Bunched Cables.
The majority of their products are supplied to electricity boards of different states like Maharashtra, Gujarat, Tamil Nadu, Telangana, Haryana, Chhattisgarh, Madhya Pradesh, etc. and turnkey contractors. They sell their products through a diversified set of distribution channels:
- Securing government tenders.
- Supply to EPC contractors for turnkey projects.
- Direct sales to a few private companies.
The market for electrical wires is growing by a whopping CAGR of 15%, with rapid developments in the power and infrastructure sector. Therefore, Marco Cables and Conductors can benefit from this growing market.
Marco Cables and Conductors Ltd IPO Details
Marco Cables and Conductors Ltd IPO Date
Marco Cables and Conductors IPO is open from September 21, 2023 to September 25, 2023.
Marco Cables and Conductors Ltd IPO Price Band
Marco Cables and Conductors is a fixed-price IPO, with the price set at ₹36 per share.
Marco Cables and Conductors Ltd IPO Lot Size
The Marco Cables and Conductors Ltd IPO lot size is 3,000 shares per lot.
Marco Cables and Conductors Ltd IPO Objectives
The net proceeds of the fresh issue are proposed to be utilised in the following manner:
- Funding of capital expenditure requirements of our Company towards the purchase of a solar power system and 1+12 Rigid Stranding Machine.
- Funding Incremental Working Capital Requirements.
- General corporate purposes.
Peer Details
The companies considered by Marco Cables and Conductors as its listed peers include:
- V-Marc India Limited
- Ultracab (India) Limited
- Relicab Cable Manufacturing Limited
- Dynamic Cables Limited
How to Check the Allotment Status of the Marco Cables and Conductors Ltd IPO?
A: Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Marco Cables and Conductors Ltd
Registered office: Shop No 100, Opposite Bhai Gangaram Market, Main Road, Ulhasnagar, Thane- 421005, Maharashtra, India
Phone: 0251 2530332
E-mail: investors@hmtcable.com
Marco Cables and Conductors Company Financials
| Financial year | Year Ending on March 31, 2023(₹ in Cr.) | Year Ending on March 31, 2022(₹ in Cr.) | Year Ending on March 31, 2021(₹ in Cr.) |
|---|---|---|---|
| Total Income | 56.94 | 56.65 | 42.83 |
| Profit for the Year | 2.81 | 0.33 | 0.12 |
| Current Ratio (x) | 1.52 | 1.44 | 1.43 |
| Return on Capital Employed | 16.93% | 12.41% | 11.52% |
| Working Capital Cycle (days) | 280 | 238 | 284 |
Know before investing
Strengths
3-
Marco Cables and Conductors is an experienced player and has the necessary bid qualification requirements (BQR) of the electricity boards.
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Since their customers often prefer to have tailor-made products as per their particular requirements, their manufacturing team has developed the capability over time to provide customised products and solutions.
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The company is planning to expand its geographical reach in India and develop in-house technology development capabilities for better operational efficiency.
Risks
3-
The prices of their raw materials have external influences and are thus volatile. For example, the price of copper and aluminium are linked to the prices on the London Metal Exchange (“LME”), while the price of PVC compounds is linked to crude oil prices.
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Their business depends on their relationships with their customers, with whom they do not have any long-term arrangements. Further, they have to source government contracts through a bidding process. This process does not guarantee a steady inflow of contracts despite performing well.
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Their top 10 customers contributed approximately 96.78%, 94.84% and 94.22% of the revenue in financial years 2023, 2022 and 2021, respectively. This is an excessive concentration of revenue, and the loss of a customer can have a severe impact on the revenue.
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Marco Cables and Conductors IPO FAQs
Marco Cables and Conductors IPO has both fresh issue and OFS components. It is a fixed price issue priced at ₹36 per share.
The allotment date is Thursday, September 28, 2023.
The IPO subscription window is September 21, 2023 to September 25, 2023.
The minimum lot size is 3,000 shares per lot.
Marco Cables and Conductors Ltd IPO will be listed on the NSE SME on Wednesday, October 4, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on Wednesday, October 4, 2023 on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
