DCG Cables IPO Day 3: Subscription Status, GMP, And Other Details

DCG Cables & Wires IPO aiming to raise ₹49.99 crores, is entirely a fresh issue of 49.99 lakh shares. The DCG IPO price is set at ₹100 per share. The minimum lot size for an application is 1200 Shares, and the minimum investment required by retail investors is ₹120,000.

DCG Cable IPO Subscription Status

The DCG IPO opened for subscription on April 8, 2024, and is set to close today, April 10, 2024. As of 1:18 pm on the last day of bidding, the Non-Institutional Investors (NII) category has bid for 1,19,08,800 shares (4.91 times), while the Retail Individual Investors (RIIs) category has bid for 2,80,90,800 shares (11.85 times). The total number of shares bid for stands at 3,99,99,600 (8.38 times).

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The last reported DCG IPO GMP is ₹14. With the IPO price band of ₹100, the estimated listing price is ₹114 indicating a potential gain of 14% per share. However, it’s crucial to remember that GMPs are merely indicators and not always reliable predictors of a stock’s performance post-listing.

DCG Cables IPO Details

The company plans to use the net proceeds from the IPO for capital expenditure for building construction, meeting working capital requirements, general corporate purposes, and covering public issue expenses. The allotment for the DCG Cables IPO is expected to be finalized on Friday, April 12, 2024. The shares are tentatively scheduled to be listed on the NSE SME on Tuesday, April 16, 2024.

About DCG Cables & Wires

Established in 2017, DCG Cables & Wires manufactures copper cables and wires for transformer manufacturers in India. Its product portfolio includes Copper Strips, Paper Covered Copper Strips in rectangular and round shapes, and multiple paper-covered copper conductors and connection cables, among others. The company operates three manufacturing facilities in Odhav, Ahmedabad; Kubadthal, Ahmedabad; and Waghodia, Vadodara.

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