Unlisted shares of DCG Cables & Wires Ltd are trading Rs 18 higher in the grey market, expecting a 18 per cent listing gain from the public issue
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DCG Cables & Wires IPO: The initial public offering of DCG Cables & Wires Ltd, a copper cables and wires manufacturer, has opened for public subscription on Monday. Till 11:54 am on the first day of bidding on Thursday, the Rs 49.99-crore SME IPO received an overwhelming 0.47 times subscription, garnering bids for 22,08,000 shares against 47,47,200 shares on offer.
The price of the DCG Cables & Wires IPO has been fixed at Rs 100 per share for its initial public offering.
The category for non-institutional investors got subscribed 0.08 times while the portion for Retail Individual Investors (RIIs) attracted 0.85 times subscriptions.
The DCG Cables & Wires IPO was opened on April 8. Its share allotment will take place on April 12, while the shares will be listed on NSE SME on April 16.
DCG Cables & Wires IPO GMP Today
According to market observers, unlisted shares of DCG Cables & Wires Ltd are trading Rs 18 higher in the grey market as compared with its issue price. The Rs 18 grey market premium or GMP means the grey market is expecting a 18 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
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‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
DCG Cables & Wires IPO Details
The DCG Cables & Wires IPO is entirely a fresh issue of 49.99 lakh shares. The price of the IPO has been fixed at Rs 100 per share. The minimum lot size for an application is 1,200 shares.
The minimum amount of investment required by retail investors is Rs 1,20,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,40,000.
Interactive Financial Services Ltd is the book-running lead manager of the DCG Cables & Wires IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for DCG Cables & Wires IPO is Nikunj Stock Brokers.
DCG Cables & Wires, which was founded in 2017, manufactures copper cables and wires for transformer manufacturers in India.
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The company’s product portfolio includes Copper Strips, Paper Covered Copper Strips in rectangular and round shapes, as well as multiple paper-covered copper conductors and connection cables, and Wires (kraft/crepe/nomex/mica), Bare Copper Wires and Strips, Copper Tapes and Fiber Glass Copper.
