Marco Cables & Conductors Ltd IPO Timeline

Marco Cables & Conductors Ltd IPO opens on 21-Sep-2023, and closes on 25-Sep-2023. The Marco Cables & Conductors Ltd IPO bid date is from 21-Sep-2023 to 25-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Marco Cables & Conductors Ltd IPO Opening Date 21-Sep-2023
Marco Cables & Conductors Ltd IPO Closing Date 25-Sep-2023
Basis of Allotment 28-Sep-2023
Initiation of Refunds 29-Sep-2023
Credit of Shares to Demat 03-Oct-2023
Marco Cables & Conductors Ltd IPO Listing Date 28-Sep-2023

Marco Cables & Conductors Ltd IPO Lot Size

Marco Cables & Conductors Ltd IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or 108000).

Application Lots Shares Amount
Minimum 1 3000 ₹108000
Maximum 1 3000 ₹108000

Marco Cables & Conductors Ltd IPO Details

Marco Cables & Conductors Ltd IPO Date 21-Sep-2023 to 25-Sep-2023
Marco Cables & Conductors Ltd IPO Face Value Shares of ₹10 per share
Marco Cables & Conductors Ltd IPO Price ₹36 per share
Marco Cables & Conductors Ltd IPO Lot Size 3000
Issue Size Shares of ₹10 (aggregating up to ₹18.73 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹9.36 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹9.37 Cr)
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Sumit Sugnomal Kukreja, Sugnomal Mangandas Kukreja, Komal Sumit Kukreja.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding of capital expenditure requirements of the company towards purchase (i) Solar Power Ayatems & (ii) 1+12 Rigid Stranding Machine
  • 2 Funding incremental working capital requirements
  • 3 General corporate purposes

Company Financials

Marco Cables & Conductors Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 80.20 72.08 3.04
03-2023 70.92 56.94 3.08
03-2022 59.55 56.65 0.33
Amount in ₹ Crore
  • Qualifying in BQR of Government tenders.
  • Assured Quality and High Standard Service.
  • Strong Customer Base.
  • Leveraging the experience of its Promoters and Directors.
  • Customized Product Development.
  • Strong Financial Management.
  • Strong Marketing Practices.
  • There are outstanding legal proceedings involving the Company. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
  • The costs of the raw materials that the company use in its manufacturing process are subject to volatility due to factors beyond its control. Increases or fluctuations in raw material prices may have a material adverse effect on its business, financial condition, results of operations and cash flows.
  • The company manufacturing facilities are critical to its business operations and any shutdown of the company manufacturing facilities may have an adverse effect on its business, results of operations and financial condition.
  • The company is dependent on the performance of the wires and cables market. Any adverse changes in the conditions affecting the wires and cables market can adversely impact its business, financial condition, results of operations, cash flows and prospects.
  • The company is subject to strict quality requirements and any product defect issues or failure by its or the company raw material suppliers to comply with quality standards may lead to the cancellation of existing and future orders, recalls and exposure to potential product liability claims.
  • The company is generate its major portion of sales from it operations in certain geographical regions especially, Gujarat, Telangana, Maharashtra and Madhya Pradesh. Any adverse developments affecting our operations in these regions could have an adverse impact on its revenue and results of operations.
  • Any shortages, delay or disruption in the supply of the raw materials we use in its manufacturing process due to factors beyond its control may have a material adverse effect on the company business, financial condition, results of operations and cash flows.
  • The industry in which its operate is labour intensive and the company manufacturing operations may be materially adversely affected by strikes, work stoppages or increased wage demands by its employees or those of the company suppliers.
  • The company Business is dependent on its Continuing relationships with it customers, with whom its have not entered into long term arrangements. Further the company have been procuring business from Government entities, which are undertaken through bidding process and failure to procure such tenders on a continuous basis could adversely impact its revenues and profitability.
  • The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.
  • The company depends on the success of its relationships with it customers. The company derives a significant part of its revenue from its top 10 customers and the company do not have long term contracts with these customers. If one or more of such customers choose not to source their requirements from it, the company business, financial condition and results of operations may be adversely affected.
  • The Company's revenue from operation is dependent on the central government's RDSS (Revamped Distribution Sector Scheme) any change or deferment of the same may lead to loss of its revenue from operation, affect the company financial condition etc.,
  • The company depends on the success of its relationships with its customers, Government entities. The company derives a significant part of its revenue from Government entities, customers, and the company do not have long term contracts with these customers. If one or more of such customers choose not to source their requirements from it, the company business, financial condition and results of operations may be adversely affected.
  • The company is highly dependent on its Key Managerial Personnel and its Senior Management Personnel for its business. The loss of or the company inability to attract or retain such persons could have a material adverse effect on its business performance.
  • The company requires working capital for its smooth day-to-day operations of business and any discontinuance or its inability to acquire adequate working capital timely and on favourable terms may have an adverse effect on its operations, profitability and growth prospects.
  • The Company has higher debt-equity ratio which requires significant cash flows to service its debts obligations, and this, together with the conditions and restrictions imposed by its financing arrangements, fluctuations in the interest rates may limit the company ability to operate freely and grow its business.
  • The company is highly dependent on its skilled and unskilled personnel for its day-to-day operations. The loss of or the company inability to attract or retain such persons have a material adverse effect on its business performance.
  • The company failure to maintain optimum inventory levels could adversely affect its business, financial condition, results of operation and cash flow.
  • Improper storage, processing and handling of its raw materials, work products and products could damage its inventories and, as a result, have an adverse effect on its business, results of operations and cash flows.
  • Failure or disruption of its information technology systems may adversely affect its business, financial condition, results of operations, cash flows and prospects.
  • The company is subject to various laws and extensive government regulations and if its fail to obtain, maintain or renew the company statutory and regulatory licenses, permits and approvals required in the ordinary course of its business, including environmental, health and safety laws and other regulations, its business financial condition, results of operations and cash flows may be adversely affected.
  • The Company operates under several statutory and regulatory permits, licenses and approvals. The company failure to obtain and/or renew any approvals or licenses in future may have an adverse impact on its business operations.
  • There are certain discrepancies and non- compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
  • The Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
  • The company Promoters and Directors have provided personal guarantees for loan facilities obtained by the Company, and any failure or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as its Promoters/Directors and thereby, impact the company business and operations.
  • The company face significant competitive pressures from other players in its business as the industry segments in which its operate being fragmented, the company inability to compete effectively would be detrimental to its business and prospects for future growth.
  • The Company has availed unsecured loans from non-banking financial companies("NBFC"), its directors and directors' relatives, which may be recalled on demand.
  • Pricing pressure from customers may adversely affect its gross margin, profitability and ability to increase its prices.
  • There have been instances of delays/ non-filing/ non-compliance in the past with certain statutory authorities with certain provision of statutory regulations applicable to it. If the authorities impose monetary penalties on the company or take certain punitive actions against it in relation to the same, its business, financial condition and results of operations could be adversely affected.
  • The company intend to utilise a portion of the Net Proceeds for funding its capital expenditure requirements. The company is yet to place orders for 100% of the (i) Solar Power System and (ii) 1 + 12 Rigid Stranding Machine at our existing manufacturing facility for its proposed object, as specified in the Objects of the Offer chapter. Any delay in placing orders or procurement of such plant and machineries may delay the schedule of implementation and may also lead to increase in price of these plant & machineries, further affecting its revenue and profitability.
  • The company is dependent on third party transportation providers for the delivery of its raw material and products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on its business, financial condition, results of operations and prospects.
  • The company have significant power and fuel requirements and any disruption to power sources could increase its production costs and adversely affect its results of operations and cash flows.
  • The company regularly work with activities in its operation which can be dangerous and could cause injuries to people or property.
  • The company have not made any alternate arrangements for meeting its capital requirements for the Objects of the Offer. Further its have not identified any alternate source of financing the Objects of the Offer. Any shortfall in raising / meeting the same could adversely affect its growth plans, business operations and financial condition.
  • If the company fail to keep its technical knowledge and process know-how confidential, its may suffer a loss of the company competitive advantage.
  • Certain corporate records and regulatory filings of the Company are not traceable.
  • Within the parameters as mentioned in the chapter titled "Objects of the Offer" beginning on page 85 of this Prospectus, the Company's management will have flexibility in applying the proceeds of this Offer. The fund requirement and deployment mentioned in the Objects of this Offer have not been appraised by any bank or financial institution.
  • The deployment of funds raised through this Offer shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • The company insurance coverage may not adequately protect it against all material hazards.
  • Information relating to historical installed capacity of its manufacturing facility included in this Prospectus is based on various assumptions and estimates and its future production and capacity utilization may vary. Under-utilization of its manufacturing capacity and an inability to effectively utilize the company manufacturing facilities may have an adverse effect on its business and future financial performance.
  • The company financing agreements contain covenants that limit its flexibility in operating the company business. If its not in compliance with certain of these covenants and are unable to obtain waivers from the respective lenders, its lenders may accelerate the repayment schedules, and enforce their respective security interests, leading to a material adverse effect on its business and financial condition.
  • If the company fail to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, the company financial risks. Despite its internal control systems, the company may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • The company manufacturing property and warehouse are taken on leasehold basis. If its are unable to renew existing leases or relocate the company operations on commercially reasonable terms, there may be a material adverse effect on its business, financial condition and operations. Further, the company registered office located in Mumbai is not owned by it. In the event the company lose such rights, its business, financial condition and results of operations and cash flows could be adversely affected.
  • The Company logo and are not registered with Registrar of Trademark; any infringement of its brand name or failure to get it registered may adversely affect its business. Further, any kind of negative publicity or misuse of the company brand name could hamper its brand building efforts and the company future growth strategy could be adversely affected.
  • The logo has been registered under the name of the company. Any failure to protect its intellectual property could have a material adverse effect on its business. The company is, and may also in the future be, subject to intellectual property infringement claims, which may be expensive to defend and may disrupt its business.
  • The company have certain contingent liabilities and commitments, which, if they materialize, may adversely affect its results of operations, financial condition and cash flows.
  • The company Promoters and Promoter Group will continue to retain a majority shareholding in the Company after the Offer, which will allow them to exercise significant influence over it.
  • In addition to normal remuneration, other benefits and reimbursement of expenses some of its directors (including the company Promoters) are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
  • Industry information included in this Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
  • The determination of the Offer Price is based on various factors and assumptions and the Offer Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchange.
  • Within the parameters as mentioned in the chapter titled "Objects of the Offer" beginning on page 85 of this Prospectus, the Company's management will have flexibility in applying the proceeds of the Offer. The fund requirement and deployment mentioned in the Objects of the Offer have not been appraised by any bank or financial institution.
  • The average cost of acquisition of Equity Shares by its Promoters and the selling shareholder could be lower than the Offer price determined in consultation with Lead Manager in accordance with the SEBI ICDR Regulations.
  • Significant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. Our failure to successfully adopt IFRS may have an adverse effect on the price of its Equity Shares. The proposed adoption of IFRS could result in the company financial condition and results of operations appearing materially different than under Indian GAAP.
  • Expand relationships with its existing customers.
  • Broaden its marketing base and increasing its geographical reach.
  • Focus on manufacturing consistent quality.
  • Optimal Utilization of Resources.
  • Technology enhancements.

Marco Cables & Conductors Ltd IPO Promoter Holding

Pre Issue Share Holding 87.92%
Post Issue Share Holding 61.79%

Marco Cables & Conductors Ltd IPO Subscription Status (Bidding Detail)

The Marco Cables & Conductors Ltd IPO is subscribed 28.2047 times on Sep 25, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 28.2047

Marco Cables & Conductors Ltd IPO Prospectus

Marco Cables & Conductors Ltd IPO Listing Date

Listing Date 28 Sep 23
BSE Script 34737
NSE Symbol MARCO
Listing In NSE - SME
ISIN INE0QP001012
IPO Price ₹36
Face Value ₹10

Marco Cables & Conductors Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: 022 - 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Marco Cables & Conductors Ltd IPO Lead Manager(s)

  1. Shreni Shares Ltd

FAQs on Marco Cables & Conductors Ltd IPO

Marco Cables & Conductors Ltd IPO, which opens for subscription from 21-Sep-2023 to 25-Sep-2023 has an issue size of ₹18.73 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Marco Cables & Conductors Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Marco Cables & Conductors Ltd IPO Opens for subscription from 21-Sep-2023 to 25-Sep-2023.

The lot size of Marco Cables & Conductors Ltd is 3000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹108000 and ₹108000 respectively.

Allotment date for Marco Cables & Conductors Ltd is 28-Sep-2023 and refund of application amount (in case allotment is not received) will begin from 29-Sep-2023. If your allotment goes through, then shares will be credited in your Demat account by 03-Oct-2023.

The registrar for Marco Cables & Conductors Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Marco Cables & Conductors Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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