DCG Cables and Wires Stumbles on its Debut, Opens at 10% Discount

DCG Cables and Wires had a dull debut on NSE SME, opening at ₹90, which is 10% under the ₹100 issue price, reflecting initial investor hesitation on its launch day.
DCG Cables and Wires Stumbles on its Debut, Opens at 10% Discount

DCG Cables and Wires experienced a subdued start on the NSE SME, with its shares opening at ₹90, 10% below the issue price of ₹100. This initial drop highlights a cautious investor response on its first trading day.

The DCG Cables and Wires IPO, priced at ₹100 per share with a face value of ₹10, ran from April 8 to April 10. It required a minimum bid of 1,200 shares. By the close of day three, it was subscribed 16.96 times.

Since 2017, DCG Cables and Wires has specialized in producing various copper cables and wires in India, catering to transformer manufacturers. They offer an array of products including bare and fiberglass-coated copper wires, and paper-coated strips. Their three plants in Ahmedabad and Vadodara boast a substantial production capacity across multiple copper product categories. 

DCG Wires And Cables aims to use IPO funds for relocating manufacturing to Bavla and expanding operational capacity. They plan to spend Rs. 5.36 crore on new facilities and Rs. 38.79 crore to boost working capital due to business growth.

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