Jaipur (Rajasthan) [India], July 26 (ANI/PNN): In a bid to continue its commitment to the stakeholders of the company, Dynamic Cables Ltd (DCL), a Jaipur-based wire and cables manufacturer, has announced listing approval of its equity shares on the National Stock Exchange. Company shares are presently listed on the Bombay Stock Exchange (Scrip code: 540795). The company was listed on BSE SME Exchange through its IPO in Dec 2017 and migrated to the main board on October 1, 2020. Investors have earned a 3.7x return from its IPO price of Rs 40/- per share, calculated on the closing price of July 25, 2022.
The company has informed to Bombay Stock Exchange in its filing dated July 25, 2022, that the equity shares of the company will be listed and admitted to dealings on the National Stock Exchange from Wednesday, July 27, 2022, under the symbol "DYCL".
Dynamic is one of the few companies to receive direct listing approval from NSE. It will open new capital market avenues for the company. The company reported revenue of Rs 563.6 crs, EBITDA of Rs 59.8 crs and PAT of Rs 30.9 crs for FY22.
Commenting on the listing, Ashish Mangal, Managing Director of Dynamic Cables Limited, said, "Today marks an important milestone in the journey of Dynamic Cables Limited and is a reflection of our performance over the years and will go a long way in enhancing investors' confidence. I would take this opportunity to thank all the regulators, employees and shareholders for their unwavering support, which helped us navigate this process and set us on the path of an exciting new journey.
We are all humbled by this opportunity and are committed to delivering greater value to our stakeholders by developing innovative solutions for our customers and investing in people, technology, etc. Going Ahead, we shall strive harder to achieve our objectives and capitalize on our competitive advantages to create new possibilities, traverse new boundaries, and deliver more stakeholder value."
Dynamic Cables Ltd. is a manufacturer of power infra cables that includes LT, HT, EHVC, Power control and instrumentation cables, flexible and industrial cables, solar cables and railway signalling cables. It supplies cables to Government Discoms, Private Distribution companies, Private EPC contractors, industrial and Export clients. The company has 3 manufacturing plants situated at Jaipur and Reengus. Business operations are managed through a corporate office in Jaipur and 5 regional sales offices across India.
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