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Plaza Wires Limited IPO Detail

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 Gupta

IPO Details

IPO Opening DateSep 29, 2023
IPO Closing DateOct 05, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹51 - 54 per equity share
Market Lot277 Shares
Min Order Quantity277 Shares
Listing AtBSE, NSE
Issue Size₹71.28 Cr
Fresh Issue₹71.28 Cr
Offer for Sale-
Retail Portion 10%

IPO Subscription (Bidding Detail)

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 DateSep 29, 2023
IPO Close DateOct 05, 2023
Basis of Allotment DateOct 09, 2023
Initiation of RefundsOct 11, 2023
Credit of Shares to Demat AccountOct 12, 2023
IPO Listing DateOct 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).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding69.83%

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:

  1. 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.
  2. Funding the working capital requirements of the company.
  3. 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