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Cords Cable Industries was subcribed 4.98 times on the last day of its issue. The IPO received bids for 1.53 crore shares as against 30.85 shares on offer.
The company had fixed the price band between Rs 125-135 per share for its initial public offer.
The shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The issue would constitute 27% of the fully diluted post-issue paid-up capital and the net issue 26.38%.
Cords Cable manufactures cables up to 1.1 Kilovolt (KV) for various applications including industrial, utility and buildings. Its clients include Bharat Heavy Electricals, National Thermal Power Corporation (NTPC), Hindalco Industries, ACC, Hindustan Petroleum Corporation (HPCL), GAIL (India), Tata Steel, Siemens, Honeywell, Larsen & Toubro, Mangalore Refinery & Petrochemicals (MRPL).
The company proposes to invest Rs 70 crore in expansion plans, of which it has already invested Rs 14 crore till date.
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