Cables manufacturer Shilpi Cable Technologies' Rs 55.88 crore initial public offering has opened for subscription today. The company has fixed issue price band at Rs 65-69 a share.
The company manufactures RF cables to cater to the telecom sector and also trades in cable accessories. Issue proceeds are proposed to be utilised for capital expenditure on cable/ wire assembly shop, tools for 3G enabling and augmenting cable manufacturing capabilities; for long term working capital requirement for the proposed new businesses; and for investment in the subsidiary of the company, M/s Shilpi Cabletronics. D and A Financial Services Private Limited is the book running lead manager to the issue.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
