Plaza Wires IPO: Issue fully subscribed on day 1, retail portion booked over 26 times | Mint
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Business News/ Markets / Ipo/  Plaza Wires IPO: Issue fully subscribed on day 1, retail portion booked over 26 times
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Plaza Wires IPO: Issue fully subscribed on day 1, retail portion booked over 26 times

Plaza Wires IPO subscribed 4.73 times on day 1, with retail portion subscribed 26.85 times.

Plaza Wires IPO has opened for subscription today. (IPO Watch)Premium
Plaza Wires IPO has opened for subscription today. (IPO Watch)

Plaza Wires IPO subscription status: Plaza Wires IPO has been subscribed 4.73 times on day 1.

Plaza Wires IPO has opened for subscription on Friday, September 29, and will close on Wednesday, October 4. The company has fixed the price band at 51 to 54 per equity share for the proposed initial public offer.

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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.

On day 1, Plaza Wires IPO retail investors portion was subscribed 26.85 times, NII portion was subscribed 4.77 times, and Qualified Institutional Buyers (QIB) portion is yet to receive bids. 

Plaza Wires IPO subscription status details

Plaza IPO subscription status has received bids for 4,49,00,038 shares against 94,96,114 shares on offer, according to data from the BSE.

Plaza Wires IPO retail investors' portion received bids for 3,54,37,718 shares against 13,20,015 shares on offer for this segment.

Plaza Wires IPO 's non-institutional investors' portion received bids for 94,34,897 shares against 19,80,023 on offer for this segment.

Plaza IPO Qualified Institutional Buyers (QIBs) portion received bids for 27,423 shares against 61,96,076 shares on offer for this segment.

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

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.

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.

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.

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 GMP today

Plaza 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 investorgain.com

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.

Also Read: Valiant Laboratories IPO: Issue fully booked on day 3; retail portion oversubscribed

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Published: 29 Sep 2023, 03:22 PM IST
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