Established in 2017, Jigar Cables Limited (JCL) is a Rajkot, Gujarat based company that is engaged in the manufacture of cables and electric wires. JCL has been awarded an ISO 9001:2015 certification for corporate governance.The company has its manufacturing unit at Gondal, Rajkot. It is coming up with an SME IPO to be listed on BSE. Jigar Cables IPO review will try to find how the IPO may fare in future.
About the issue – Jigar Cables IPO review finds the following details of the IPO as per draft prospectus submitted with SEBI.
- Issue Open on – Jul 18, 2017
- Issue closes on – Jul 20, 2017
- Issue Type – Fixed Price IPO
- Issue Price – Rs 30 per equity share
- Lot size – 4000 shares and in multiples thereof
- Issue Size – 1,864,000 nos. of equity shares aggregating up to Rs 5.59 crores
- Face Value – Rs 10 per equity
- Listing Exchange – BSE SME
Issue objective –
- For prepayment/ repayment fully or partly of some borrowings of the Company.
- To fulfil requirements of working capital.
- To fulfil general corporate requirements.
About the Company –
Jigar Cables Limited manufactures and sells under the brand name “SIGMA”. Over last two decades, this brand name has The Sigma brand captured a sizeable market share.
Jigar Cables Limited (JCL) has the following product range.
- Flexible Cables
- Flat Submersible Cables
- LT PVC Cables
- House Wires
- Ariel Cables
The company has recently forayed into the production of XLPE and PVC cables through a new company Jigart Polymers Limited as part of backward integration.has recently incorporated a new JPL joined hands with Ultracab (India) Ltd. Ultracab is considered its peer company in the sector. Company’s client list includes,
- Indian oil
- Indian Railways
Jigar Cables IPO review finds that JCL has a good business prospect. But as it is a newly formed company, Jigar Cables IPO review can not delve into company financials. Therefore a neutral stance is maintained on this IPO. Investors should use our last day IPO picking method before applying.
Promoters of the company –
Vijay Shingala and Parshottam Vaghasiya.
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Disclaimer – Views expressed in this review is an educated guess made on the basis of available data from open source expressed for the purpose of knowledge sharing. By no means, it should be taken as an investment advice or recommendation. Investor/ trader should invest money at their own risk.