Prime Cable Industries IPO Opens: Rs 40.01 Crore Issue Size with Rs 78-83 Price Band
Prime Cable Industries Ltd., a cable manufacturer, is launching its IPO on September 20 to raise Rs 40.01 crore. The issue includes a fresh issue of Rs 42 lakh and an offer for sale of Rs 35.02 crore. The price band is set at Rs 78-83 per share, with a lot size of 1,600 shares. The subscription period runs from September 20 to 25, with listing expected on September 29 on BSE and NSE. The company has already raised Rs 11.39 crore from anchor investors. Prime Cable Industries specializes in manufacturing various types of cables for industries like power and oil & gas. The company's financial performance shows significant growth, with revenue of Rs 141.10 crore (71% YoY growth), EBITDA of Rs 14.71 crore (220% YoY growth), and net profit of Rs 7.50 crore (319% YoY growth).
*this image is generated using AI for illustrative purposes only.
Prime Cable Industries Ltd., a manufacturer of cables for various industries, is set to launch its Initial Public Offering (IPO) on Monday, September 20. The company aims to raise Rs 40.01 crore through this public issue, which includes a fresh issue and an offer for sale component.
IPO Details
- Issue Size: Rs 40.01 crore
- Fresh Issue: Rs 42 lakh
- Offer for Sale: Rs 35.02 crore
- Price Band: Rs 78-83 per share
- Lot Size: 1,600 shares
- Subscription Period: September 20 - September 25
- Tentative Allotment Date: September 25
- Listing Date: September 29 (BSE and NSE)
Anchor Investment and Grey Market Premium
Prime Cable Industries has successfully raised Rs 11.39 crore from anchor investors ahead of its IPO. The grey market is showing a premium of Rs 3 per share, suggesting a potential listing price of Rs 86.
Company Overview
Prime Cable Industries specializes in manufacturing a range of cables, including:
- Low tension PVC cables
- XLPE power cables
- Control cables
- AB cables
The company markets its products under the brand names Primecab and Renufo. Its primary customer base includes industries such as:
- Power generation
- Power distribution
- Power transmission
- Oil & gas
Financial Performance
The company has reported strong financial growth:
| Financial Metric | Amount | Year-on-Year Growth |
|---|---|---|
| Revenue | Rs 141.10 crore | 71% |
| EBITDA | Rs 14.71 crore | 220% |
| Net Profit | Rs 7.50 crore | 319% |
This substantial growth across all key financial metrics demonstrates the company's strong performance and market position in the cable manufacturing sector.
Investors interested in the Prime Cable Industries IPO should conduct thorough research and consider their financial goals before making an investment decision. As with any investment, it's advisable to review the company's red herring prospectus and consult with financial advisors to understand the potential risks and rewards associated with this offering.
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