UNIVERSAL CABLES - NOTHING BUT PIPE DREAMS
Article Abstract:
Universal Cables Ltd (UCL) is part of the MP Birla group. It manufactures electrical cables. It is floating a rights issue to its existing shareholders in the ratio of 1:4. The rights issue is likely to raise Rs8.02 crore and the share is priced at a premium of Rs10 each. The paid-up capital of UCL is Rs16.03 crore which will increase to Rs20.04 crore after the rights issue. The promoters hold 41.53 percent stake in UCL, which will be maintained post rights issue. The rights issue proceeds are likely to be utilised for working capital requirements of Rs6.96 crore and capital expenditure of Rs5 crore. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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UNIVERSAL CABLES: LITTLE SCOPE FOR GROWTH
Article Abstract:
Universal Cables Ltd (UCL) of the MP Birla group made a net profit of Rs1.75 crore on an income of Rs80.26 crore in the 6 months ended September 1998. UCL is making a rights issue to increase its working capital. The Birlas hold 41 percent stake in UCL. UCL makes electrical cables and capacitors under the brand name of Unistar. It needs Rs12.36 crore in all. It expects to net Rs8.01 crore from the rights issue. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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