Marco Cables & Conductors
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 21 Sep 2023 – 25 Sep 2023
- Listing date
- 28 Sep 2023
- Face value
- ₹10 per share
- Issue price
- ₹36 per share
- Lot size
- 3,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹18.73 Cr
- Market cap at offer price
- ₹67.32 Cr
- Promoter holding
- 100.00% → 72.18% pre-issue → post-issue
- ISIN
- INE0QP001012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- Shop No 100, Opposite Bhai Gangaram Market, Main Road, Ulhasnagar, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 2,88,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹36
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,08,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,16,000 |
| S-HNI (max) | 9 | 27,000 | ₹9,72,000 |
| B-HNI (min) | 10 | 30,000 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 1.78 | — |
| P/E (×) | 20.22 | — |
| Market cap | — | ₹67.32 Cr |
Key performance indicators
- Return on net worth
- 17.98%
- ROCE
- 16.93%
- Debt / equity
- 2.41
- PAT margin
- 4.94%
- NAV per share
- ₹9.89
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Marco Cables & Conductors
Marco Cables & Conductors Limited was incorporated on April 13, 1989 as Marco Cables Private Limited, renamed Marco Cables & Conductors Private Limited in April 2023, and converted to a public limited company in June 2023; it has an operating history of over 34 years in the Indian power cable industry. The company commenced operations manufacturing wires (with aluminium/copper conductor) and XLPE/PVC cables and Aerial Bunched Cables, later adding AAAC (All Aluminium Alloy Conductor) and ACSR (Aluminium Conductor Steel Reinforced) conductors for distribution and transmission power lines, with products covering voltage ranges suitable up to 1.1 KV. It operates a single manufacturing facility at Plot No. A-55-56, STICE, Sinnar, Nashik, Maharashtra with a combined installed production capacity of 18,000 km p.a. (as on August 07, 2023), equipped with an in-house testing laboratory, and its products are certified compliant with BIS and ISO standards. The company earns money predominantly through a tender-based model - bidding for and fulfilling tenders invited by State Electricity Boards (with major sales in Gujarat, Telangana, Maharashtra, Madhya Pradesh, Tamil Nadu and Haryana) - along with supplies to EPC/turnkey contractors and direct sales to a few private companies, entirely in the domestic market. Revenue from operations was Rs. 5,676.79 Lakhs in FY2023 (PAT Rs. 280.71 Lakhs), Rs. 5,641.00 Lakhs in FY2022 and Rs. 4,239.18 Lakhs in FY2021. The company is promoted by the Kukreja family - Sumit Sugnomal Kukreja (Chairman & Managing Director), Sugnomal Mangandas Kukreja (Whole-time Director) and Komal Sumit Kukreja - who together held 87.92% of the pre-offer paid-up equity capital.
Company Analysis
from RHPMarco Cables & Conductors Limited is an Indian manufacturer and seller of wires, cables and conductors (LT XLPE/PVC cables, Aerial Bunched Cables, AAAC and ACSR conductors) serving the power cable industry.
Marco Cables & Conductors Limited was incorporated on April 13, 1989 as Marco Cables Private Limited, renamed Marco Cables & Conductors Private Limited in April 2023, and converted to a public limited company in June 2023; it has an operating history of over 34 years in the Indian power cable industry. The company commenced operations manufacturing wires (with aluminium/copper conductor) and XLPE/PVC cables and Aerial Bunched Cables, later adding AAAC (All Aluminium Alloy Conductor) and ACSR (Aluminium Conductor Steel Reinforced) conductors for distribution and transmission power lines, with products covering voltage ranges suitable up to 1.1 KV. It operates a single manufacturing facility at Plot No. A-55-56, STICE, Sinnar, Nashik, Maharashtra with a combined installed production capacity of 18,000 km p.a. (as on August 07, 2023), equipped with an in-house testing laboratory, and its products are certified compliant with BIS and ISO standards. The company earns money predominantly through a tender-based model - bidding for and fulfilling tenders invited by State Electricity Boards (with major sales in Gujarat, Telangana, Maharashtra, Madhya Pradesh, Tamil Nadu and Haryana) - along with supplies to EPC/turnkey contractors and direct sales to a few private companies, entirely in the domestic market. Revenue from operations was Rs. 5,676.79 Lakhs in FY2023 (PAT Rs. 280.71 Lakhs), Rs. 5,641.00 Lakhs in FY2022 and Rs. 4,239.18 Lakhs in FY2021. The company is promoted by the Kukreja family - Sumit Sugnomal Kukreja (Chairman & Managing Director), Sugnomal Mangandas Kukreja (Whole-time Director) and Komal Sumit Kukreja - who together held 87.92% of the pre-offer paid-up equity capital.
Objects of the Issue
- Funding of capital expenditure requirements of our Company towards purchase of: (i) Solar Power System and (ii) 1 + 12 Rigid Stranding Machine Rs. 186.54 Lakhs p.90
- Funding Incremental Working Capital Requirements Rs. 500.00 Lakhs p.90
- General Corporate Purposes Rs. 169.52 Lakhs p.90
Issue Structure
- Total Issue
- 52,02,000 Equity Shares aggregating to Rs. 1,872.72 Lakhs
- Fresh Issue
- 26,01,000 Equity Shares aggregating to Rs. 936.36 Lakhs
- Offer for Sale
- 26,01,000 Equity Shares aggregating to Rs. 936.36 Lakhs (by Mr. Sumit Sugnomal Kukreja)
- Price Band
- Fixed Price Offer at Rs. 36 per Equity Share (including a premium of Rs. 26 per Equity Share)
- Lot Size
- 3,000 Equity Shares and in multiples thereof
- Face Value
- Rs. 10/- each
Business Model
The company manufactures wires, cables and conductors at its Sinnar (Nashik) facility and earns revenue from their sale, primarily by subscribing to and fulfilling tenders invited by State Electricity Boards and other government entities, secondarily by supplying EPC contractors for turnkey projects, and through direct sales to a few private companies; all revenue is derived from domestic sales.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sumit Sugnomal Kukreja | Promoter; Chairman and Managing Director; Selling Shareholder | 66.80% | 43.60% |
| Sugnomal Mangandas Kukreja | Promoter; Whole-time Director | 13.71% | 11.81% |
| Komal Sumit Kukreja | Promoter; Non-Executive Director | 7.41% | 6.38% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.