Ultracab's Ambitious Rs. 4981 Lakh Rights Issue Targets Global Growth

Ultracab (India) Ltd has launched a Rs. 4981 lakh Rights Issue, offering shares at Rs. 14.5 each, available from January 28 to February 11, 2025. The raised funds will aid loan repayments and working capital needs, propelling strategic growth in international markets with emphasis on quality and innovation.

Ultracab (India) Ltd, a prominent manufacturer and exporter of electric wires and cables, has commenced a Rs. 4981 lakh Rights Issue, now open for subscription from January 28 to February 11, 2025. The shares, attractively priced at Rs. 14.5 per piece, signal a strategic move to fortify the company's financial structure.

The generated capital will be strategically allocated for the repayment of loans, enhancing working capital, and overall corporate purposes, showcasing Ultracab's dedication to financial resilience. Notably, company promoters Nitesh Vaghasiya and Pankaj Shingala are onboard, subscribing fully to their rights and entitlements.

Founded in 2007, Ultracab has established a formidable presence, supplying cables across 55 government departments and 150 corporate entities, with exports spanning the UK, UAE, and Africa. This initiative is poised to underpin Ultracab's growth strategy emphasizing sustainability and product innovation in the cable industry.

(With inputs from agencies.)