Experts reaction mixed on Cords Cable listing

RELATED NEWS Cords Cable IPO subscribed 5 times Mixed reactions from Experts for Cords cable Subscribe to Cords Cable IPO: Asit C Mehta Power contributed 56% in H1 FY08: Cords Cable Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

Cords Cable Industries, a specialised cable manufacturer for variety of industries, will list on the bourses with its equity shares on February 13, 2008. The offer price has been fixed at Rs 135 per share.

According to Investment Advisor, S P Tulsian, "Cords Cable is expected to list around Rs 115 as against its issue price of Rs 135."

R S Iyer of K R Choksey Securities said, "The stock is likely to debut at around Rs 150-170. One can hold the stock for better price and once the market stabilises, it will go above Rs 200, then one can sell. If it goes below issue price, one can buy as well.

The company had entered capital market with a public issue of 30.85 lakh shares at a price band of Rs 125-135 per equity share. The issue got subscribed 4.99 times.

At present, CCIL manufactures cables upto 1.1 KV for various applications covering most segments of users including industrial, utility and buildings. It caters to a wide spectrum of cable users in various industries like power, steel, cement, fertilizers and chemicals, refinery / petroleum and many others. Its clients are from diverse industries and include names such as BHEL, NTPC, Hindalco, ACC, HPCL, GAIL, TATA STEEL, Siemens, Honeywell, L&T, MRPL and others.