Plaza Wires Limited IPO Detail
Incorporated in 2006, Plaza Wires Limited is engaged in the business of manufacturing and selling wires, and selling and marketing LT aluminium cables and fastmoving electrical goods (FMEG) under its flagship brand "PLAZA CABLES" and home brands such as "Action Wires" and "PCG".
Plaza Wires was originally incorporated as Navratna Wires. Its key products in the wires and cables segment include house wires, single & multicore round flexible industrial cables and industrial cables for submersible pumps & motors up to 1.1kv grade. The company also provides other wires and cable products such as LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer & LAN networking cables, close circuit television cables and solar cables, PVC insulated tape, and PVC conduit pipe & accessories, through third-party manufacturers.
As part of after-sales service for electric fans, the company has tied up with more than 20 service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana and Tamil Nadu. In 2021, Plaza Wires expanded its product portfolio by launching miniature circuit breakers and distribution boards (DB) in the north and south Indian regions.
As of March 31, 2023, the company has over 1249 authorized dealers and distributors, 3 branch offices in Rajasthan, Uttarakhand, and Uttar Pradesh, 1 branch office cum godown at Maharashtra, 4 warehouses in Uttar Pradesh, Assam, Kerala and Delhi, and C&F agent in 1 state, viz. Punjab.
Company Promoters
Mr. Sanjay Gupta and Mrs. Sonia GuptaIPO Details
| IPO Opening Date | Sep 29, 2023 |
| IPO Closing Date | Oct 05, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹51 - 54 per equity share |
| Market Lot | 277 Shares |
| Min Order Quantity | 277 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹71.28 Cr |
| Fresh Issue | ₹71.28 Cr |
| Offer for Sale | - |
| Retail Portion | 10% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 4.78x | 27.03x | 4.76x |
| Day 2 | 0.42x | - | - | 53.15x | 119.07x | 27.91x |
| Day 3 | 5.79x | - | - | 132.76x | 224.14x | 62.61x |
| Day 4 | 42.84x | - | - | 388.09x | 374.81x | 160.97x |
IPO Tentative Timetable
The Plaza Wires Limited IPO open date is Sep 29, 2023, and the close date is Oct 05, 2023. The issue may list on Oct 13, 2023.
| IPO Open Date | Sep 29, 2023 |
| IPO Close Date | Oct 05, 2023 |
| Basis of Allotment Date | Oct 09, 2023 |
| Initiation of Refunds | Oct 11, 2023 |
| Credit of Shares to Demat Account | Oct 12, 2023 |
| IPO Listing Date | Oct 13, 2023 |
IPO Lot Size
The Plaza Wires Limited IPO market lot size is 277 shares. A retail-individual investor can apply for up to 1 lots (277 shares or ₹14958).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 277 | ₹14958 |
| Maximum | 1 | 277 | ₹14958 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 69.83% |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 99.28 | 145.60 | 4.24 |
| 31-Mar-22 | 104.17 | 176.94 | 5.95 |
| 31-Mar-23 | 112.10 | 182.60 | 7.51 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding the capital expenditure towards setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio.
- Funding the working capital requirements of the company.
- General corporate purposes.
Plaza Wires Limited IPO Registrar:
KFin Technologies Limited
Plaza Wires Limited IPO Lead Manager(s):
Pantomath Capital Advisors Pvt Ltd
Company Contact Information:
Plaza Wires Limited
A-74 Okhla Industrial Area,
Phase-2 New Delhi
South Delhi - 110020
