New Delhi March 31:
City-based cable manufacturer Shilpi Cable Technologies Ltd expects a growth of around 30 per cent in its turnover at Rs 225 crore for the current financial year ending March 31.
The company, who recently hit the capital market through initial public offer (IPO), had registered a net sales of Rs 174.80 crore during last fiscal. The company is involved in the manufacturing of radio frequency (RF) cables to cater to the telecom sector.
Talking to reporters, Shilpi Cable Technologies Chairman and Managing Director Mukesh Gupta said, "We are expecting a turnover of Rs 225 crore during the current financial year." He said the roll-out of services, like third generation and mobile number portability will drive the demand of feeder cables in India in the coming years.
Mr Gupta said the proceeds of the public issue will be utilised for scaling up manufacturing capacity and buying tools for 3G enabling. Currently, the firm has a manufacturing facility at Bhiwadi in Rajasthan which is running at 60 per cent of the installed capacity. Mr Gupta said the company plans to increase it to 90 per cent.
The cable manufacturer expected to garner about Rs 55.87 crore via the IPO of Rs 10 each, price band of which fixed at Rs 65-Rs 69 a share. The issue closed on March 25. Mr Gupta said the company will also pump in money on cable/wire assembly shop, tools for third generation (3G) enabling, and the proposed new business.
He said the company would continue to manufacture more variety of cables as demands are significantly increasing since the launch of various telecom services such as 3G and Mobile Number Portability (MNP). The company also trades in cable accessories such as RF cables of various sizes for the telecom sector, low voltage power cables and cable accessories.
City-based cable manufacturer Shilpi Cable Technologies Ltd expects a growth of around 30 per cent in its turnover at Rs 225 crore for the current financial year ending March 31.
The company, who recently hit the capital market through initial public offer (IPO), had registered a net sales of Rs 174.80 crore during last fiscal. The company is involved in the manufacturing of radio frequency (RF) cables to cater to the telecom sector.
Talking to reporters, Shilpi Cable Technologies Chairman and Managing Director Mukesh Gupta said, "We are expecting a turnover of Rs 225 crore during the current financial year." He said the roll-out of services, like third generation and mobile number portability will drive the demand of feeder cables in India in the coming years.
Mr Gupta said the proceeds of the public issue will be utilised for scaling up manufacturing capacity and buying tools for 3G enabling. Currently, the firm has a manufacturing facility at Bhiwadi in Rajasthan which is running at 60 per cent of the installed capacity. Mr Gupta said the company plans to increase it to 90 per cent.
The cable manufacturer expected to garner about Rs 55.87 crore via the IPO of Rs 10 each, price band of which fixed at Rs 65-Rs 69 a share. The issue closed on March 25. Mr Gupta said the company will also pump in money on cable/wire assembly shop, tools for third generation (3G) enabling, and the proposed new business.
He said the company would continue to manufacture more variety of cables as demands are significantly increasing since the launch of various telecom services such as 3G and Mobile Number Portability (MNP). The company also trades in cable accessories such as RF cables of various sizes for the telecom sector, low voltage power cables and cable accessories.
