Cords Cable Industries

Cords Cable Bags Export Order Worth $12 Mn

Cords Cable Industries Ltd (CCIL) announced that it has received an export order valued at $12 million (around Rs 50 crore) for supplying power cables in the Middle East.

The order would be finished within the next 6-7 months.

Previously, the company declared that it has lined up an expansion-cum-diversification programme, which involves an investment of about Rs 57 crore.

Cords Cable Above Issue Price On NSE

Shares of Cords Cable Industries listed today with a gain of Rs. 8 or 6% at Rs 143 on the National Stock Exchange, against issue price of Rs 135.

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.

Collins Stewart Inga helped to raise Rs 416.47 million via the public issue. The company plans to use the issue proceeds to part finance its expansion plans and also to diversify its business.

Cords Cable IPO Subscribed 4.99 Times On Closing Day

New Delhi-based Cords Cable Industries (CCIL) has received 4.99 times subscription till 5.30 p.m. on closing day.

For subscription, the IPO, which opened on Jan. 21, 2008, has received about 15.40 million bids as against issue size of 3,085,000 equity shares. The price band has been fixed between Rs 125-135 per share.

The company’s shares has also received “IPO Grade 3/5” from the Indian rating agency, Credit Analysis & Research (CARE).