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: Firm mobilises 20 crore from anchor investors ahead of issue
Back Back

Plaza Wires IPO: Firm mobilises ₹20 crore from anchor investors ahead of issue

Plaza Wires IPO: Plaza Wires IPO will open for subscription on Friday, September 29 and close on Wednesday, October 4.

Plaza Wires IPO opens on September 29. Photo: iStockPremium
Plaza Wires IPO opens on September 29. Photo: iStock

Plaza Wires IPO: Plaza Wires has raised 20 crore from anchor investors a day ahead of its IPO subscription opening for bidding. Plaza Wires initial public offering (IPO) will open for subscription on Friday, September 29 and close on Wednesday, October 4. Two anchor investors - Chanakya Opportunities Fund I and Astrone Capital UCC-Arven, participated in the anchor book.

Plaza Wires 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'.

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

Plaza Wires IPO Details

Plaza Wires IPO is a book built issue of 71.28 crore. The issue is entirely a fresh issue of 1.32 crore shares. The Delhi-based wire and cable manufacturer has fixed the price band at 51 to 54 per equity share for the public issue. Investors can bid for a minimum of 277 shares and in multiples thereof.

Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Plaza Wires IPO, while Kfin Technologies Limited is the registrar for the issue. Sanjay Gupta and Sonia Gupta are the company's promoters.

The allotment for the Plaza Wires IPO is expected to be finalized on Monday, October 9, 2023. Plaza Wires shares will list on stock exchanges BSE, NSE with tentative listing date fixed as Thursday, October 12, 2023.

Also Read: Plaza Wires IPO: Know price band, subscription date, other details

The company intends to utilize the net proceeds from the issue towards the 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. It will also direct its funding towards the working capital requirements of the company, and for general corporate purposes.

Plaza Wires was originally incorporated as Navratna Wires. The company's key products in the wires and cables segment include house wires, single and multicore round flexible industrial cables and industrial cables for submersible pumps and motors.

The company also provides other wires and cable products such as LT power control cables, TV dish antenna co-axial cables, telephone and switchboard industrial cables, computer and LAN networking cables, close circuit television cables and solar cables, among others.

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

Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at
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: 28 Sep 2023, 10:13 PM 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