Shilpi Cables Technologies Ltd (SCTL), a leading telecom infrastructure player, has received a loan sanction of Rs 104.03 crore from the leading banks in India. The loan sanction includes Rs 41 crore from SBI, Rs 21.5 crore from Karur Vyasya Bank and Rs 41.53 crore from IDBI. The funds will be deployed towards higher working capital and other expansion related needs in view of the quantum growth witnessed in the telecom sector.
Shilpi Cables, a Delhi-based company is engaged in manufacturing of radio frequency corrugated feeder cables. Shilpi Cables currently manufactures telecom, automobile and energy cables in India. Company has also developed a strong footprint in the field of site solutions along with high quality RF Cables, Jumper Cables, Connectors and Accessories. The RF site solution market in India was valued at approximately Rs.1000 crore in 2008-09, with cables dominating the share and is slated to grow at 40% for the next few years annually.
Speaking on the bank funding, Manish Goel, Director of Shilpi Cables mentioned that “After the successful allocation of 3G, we are expecting a spurt in demand for radio frequency feeder cables in Indian telecom space. To offer 3G services and match up the growing needs of mobile subscribers, the telecom operators in India need to switch to a higher frequency band, resulting in additional requirement of active infrastructure. This would in turn result in a good growth opportunity for Shilpi Cable Tech Ltd.”
Goel further added that “Shilpi Cables has had successful relationship with major telcos like Airtel, Tata, Ericsson & Nokia Siemens Networks in the past and is in the process of adding some other large players in our portfolio”.
The opportunity and the action in the telecom sector were best summed up when IDBI Bank mentioned that “3G spectrum allocation has virtually opened the floodgates in an already high-growth sector. It is the suppliers such as Shilpi Cables who stand to gain most. IDBI Bank is happy to be a part of this growth story and look forward to act as their partners in future too”.
About Shilpi Cables:
Shilpi Cable Technologies Ltd (SCTL), a Delhi-based company is engaged in manufacturing of cables for sectors like Telecom, Automobile & Infrastructure. Shilpi Cables currently manufactures telecom, automobile and energy cables in India. Company has also developed a strong footprint in the field of site solutions along with high quality RF Cables, Jumper Cables, Connectors and Accessories. Company has a world class manufacturing facility equipped with the latest technology and is backed by a highly qualified and experienced technical team.
The factory is strategically located in Chopanki, Bhiwadi, Dist. Alwar, Rajasthan with a work area of 150,000 sq. ft. SCTL has a world-class manufacturing unit and has deployed cutting-edge technologies to cater the requirement of its customers.
