Cords Cables IPO opens on 21st January'08

Thebullishtrends: Cords Cables Inds IPO opens on 21st January and it will close on 24th January'08. . Rating agency CARE has assigned "IPO GRADE 3" for Cords Cables Inds IPO, which states the IPO is having average fundamentals. Cords Cables offers 35 lakh equity shares 0f Rs.10 face value with an offer price of Rs.125-135.

Cords Cables incorporated in 1991 by threee professional who were worked earlier in Delton Cables. Cords Cables started its operations by manufacturing co-axial cables and instrumentation cables and now it is having product range of low tension power cables, control and instrumentaiton cables. At present CCIL manufactures cables upto 1.1kv in their manufacturing facility at Rajasthan plant.

The IPO funds will be utilised for part financing the project for setting up production facilities for high tension and rubber cables and to increase longerm working capital requirements and for genral corporate purposes.