Active Stocks
Fri Dec 08 2023 15:59:53
  1. Tata Steel share price
  2. 129.2 -0.62%
  1. HDFC Bank share price
  2. 1,653.1 1.38%
  1. State Bank Of India share price
  2. 614 0.35%
  1. NTPC share price
  2. 285.25 0.42%
  1. ITC share price
  2. 449.15 -1.95%
Business News/ Markets / Ipo/  Plaza Wires IPO: Check subscription status on day 1, GMP, review, other key details to know
Back Back

Plaza Wires IPO: Check subscription status on day 1, GMP, review, other key details to know

Plaza Wires IPO opens for subscription today, offering wires, cables, and electrical goods under various brands. The company plans to use the funds for expansion and working capital. The IPO price band is set at ₹51 to ₹54 per share.

Plaza Wires IPO opens for subscription today (Friday, September 29). (
Plaza Wires IPO opens for subscription today (Friday, September 29). (

Plaza Wires IPO opens for subscription today (Friday, September 29). Plaza Wires IPO subscription status was full booked and was subscribed 4.73 times, with retail portion oversubscribed 26.85 times.

Plaza Wires company manufactures, markets, and sells wires, LT aluminium cables, and fast-moving electrical goods (FMEG) under the "Plaza Cables" and "Action Wires" and "PCG" household brands, as well as other trademarks.

The promoters of the company are Sanjay and Sonia Gupta, who have a combined expertise of about 32 years in the wires and cable sector.

Also Read: Plaza Wires IPO: Issue fully subscribed on day 1, retail portion booked over 20 times so far

The current production facility is at Baddi, Himachal Pradesh. The company's installed production capacity as of the Red Herring Prospectus (RHP) date is 12,00,000 coils annually. The company has periodically invested in its manufacturing infrastructure throughout the years to match the needs and scope of its product portfolio.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

According to RHP, For the fiscal 2023, 2022 and 2021, the aggregate revenue from operations from these states were 1,382.27 million, 1,388.28 million and 1,180.55 million, respectively.

As per the RHP, listed peers of Plaza Wires IPO are Cords Cable Industries Ltd (P/E of 16.65), Ultracab (India) Ltd (P/E of 24.18), V-Marc India Ltd (P/E of 25.55), Dynamic Cables Ltd (P/E of 32.22), and Paramount Communications Ltd (P/E of 23.75).

Also Read: Master Components share price makes muted debut on NSE SME; lists at 140.40

Plaza Wires IPO floor price is 51 per equity share which is 5.1 times of the face value and the cap price is 54 per equity share, which is 5.4 times of the face value.

Here are the 10 key things to know about Plaza Wires IPO:

Plaza Wires IPO date: Plaza Wires IPO opens for subscription on Friday, September 29, and closes on Wednesday, October 4.

Plaza Wires IPO price band: The company has fixed the price band at 51 to 54 per equity share for the proposed initial public offer.

Plaza Wires IPO lot size: Bids can be made for a minimum of 277 equity shares and in multiples of 277 equity shares thereafter.

Plaza Wires IPO Anchor investors: Plaza Wires IPO raised 20 crore from anchor investors on Wednesday, September 27.

Also Read: JSW Infrastructure IPO allotment finalised: Latest GMP, here's how to check allotment status

Plaza Wires IPO details: Plaza Wires IPO, which is worth 71.28 crores, is completely a fresh issue of 13,200,158 equity share; there is no offer for sale (OFS) component.

Plaza Wires IPO objectives: The company plans to use the net proceeds from the offering to pay for the following items, including funding the capital expense for opening a new manufacturing facility to produce house wires, fire-resistant wires and cables, aluminium cables and solar cables to broaden the product line, funding the company's working capital needs and general corporate purposes.

Lead Manager and Registrar of Plaza Wires IPO: Plaza Wires IPO's book-running lead manager is Pantomath Capital Advisors Pvt Ltd, while the issue's registrar is Kfin Technologies Limited.

Plaza Wires IPO reservation: Plaza Wires IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

Plaza Wires IPO GMP today: Plaza Wires IPO GMP today or grey market premium is +12. This indicates Plaza Wires share price were trading at a premium of 12 in the grey market on Friday, according to

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Plaza Wires share price was indicated at 66 apiece, which is 22.22% higher than the IPO price of 54.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Plaza Wires IPO review: According to Dilip Davda, the contributing editor at, the company is operating in a highly competitive segment with many big players around. It marked steady growth in its top and bottom lines for the reported periods, the issue appears fully priced based on its FY23 earnings. Considering its expansion plans, investors may park funds for the medium to long-term rewards.

Also Read: Karnika Industries IPO opens: GMP, review, other key details. Should you subscribe?

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.




Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 29 Sep 2023, 10:30 AM IST
Next Story footLogo
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App