Shilpi Cable plans $11.66 Million IPO by end of this year

By siliconindia   |   Monday, August 30, 2010   |    1 Comments
Print Print Email Email
News Content Image

Mumbai: Shilpi Cable Technologies, a Delhi-based radio frequency (RF) cables manufacturer, is set to go for an initial public offer (IPO) of around Rs.56 crore ($11.66 million) by the end of 2010. The company is planning to file its draft red herring prospectus (DRHP) with SEBI this week. According to Shilpi Cable's Director, Manish Goel, the IPO proceeds will be used to set up a wire and cable assembly shop, expand its product portfolio and manufacture cables for 3G networks. The company will also manufacture low voltage power cables and cable accessories, he said. The company caters primarily to the telecom sector and its products are used in telecom towers. In FY'10, the company clocked a Rs.170 crore turnover and a profit before tax (PBT) of Rs.14.9 crore. While Goel would not disclose any figures, given the growth prospects of the industry, the company could double its turnover and profit after tax (PAT) in the next two years. About three months ago, Shilpi Cable set-up a new division to cater to the passive telecom infra space. The company would also be active in the cell-site roll-out across India for independent power infrastructure companies, its chief, Rajesh Suri, also a Director in the company added. The company is eyeing overseas markets in Africa and the Middle-East where there is a tremendous scope for its services.
Looking For Loan? Let us Help you !!!
Loan Amount
Annual Income
Preferred banks
Type the characters you see in the picture
90% of developing economies
Ninety per cent of developing economies, including India are falling behind or are at risk of fall..
Banks need to raise own capital
Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth ..
Brookfield to buy RIL E-W Pipeline
Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Amba..
Bharti Airtel board approves
Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising ..