Shilpi Cable Files DRHP To Raise Rs 56 Cr Via IPO
Radio frequency (RF) cables manufacturer, 
Shilpi Cable Technologies Limited (SCTL) has filed DRHP with SEBI to raise Rs.55.87 Cr.
It will use the IPO proceeds to set-up a wire and cable assembly shop, expand its product portfolio and manufacture cables for 3G networks. It will also manufacture low voltage power cables and cable accessories.
D and A Financial Services is the sole book running lead manager for the issue.
Transaction Reference: SEBI
Founded in 2006, Delhi based telecom infrastructure company SCTL manufactures telecom, automobile and energy cables in India.
Shilpi, formerly Rosenberger Shilpi Cable Technologies Limited, was a 50:50 joint venture between Shilpi Communications Private Limited and Rosenberger Hochfrequenztechnik GmbH & Co., Germany. However, JV ended in August 2008 owing to a dispute between the two companies, when Shilpi Communications acquired the shares of Rosenberger at a cost of Rs.220 mn, and the company is now fully owned by Shilpi group.
Three months ago, Shilpi Cable set-up a new division to cater to the passive telecom infra space about three-months ago to look after operations and maintenance of networks and also be active in the in-building wireless solutions space.
It is planning for overseas expansion in the overseas markets in Africa and the Middle-East.
This year in May, it received a loan sanction of Rs.104.03 Cr from SBI (Rs.41 Cr), IDBI (Rs.41.53 Cr) and Karur Vyasa Bank (Rs.21.5 Cr).
For FY 2009-10, it reported a Rs.170 Cr turnover and a PBT of Rs 14.9 Cr.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 25/03/11 | Shilpi Cables - IPO | IPO / Offerings | 12.52 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | Looking For | VRL Cement Limited | - | Planned |
| 03/02/12 | Private Equity | Emerging Markets Management LLC | Sintex Industries Limited | 2.97 | Completed |
| 02/02/12 | M&A | Binani Industries Limited | 3B - The Fibreglass Company | 362.00 | Completed |
| 16/01/12 | M&A | Dalmia Bharat Sugar and Industries Limited (Dalmia Cement Bharat Ltd) | Calcom Cement India Limited | 46.03 | Announced |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Shilpi Cable Technologies Limited | Mukesh Kumar Gupta & Family | A-19/B-1 Extension, Mohan Co-op.Industrial Estate, Mathura Road, P.O. Badarpur, New Delhi-110044. |
Digicable Network India Private Limited | www.shilpicables.com |
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