BackPlaza Wires IPO: Know price band, subscription date, other details
Delhi-based Plaza Wires sets price band for IPO at ₹51-54 per share to raise funds for expansion and operational needs.
PremiumDelhi-based Plaza Wires has set a price band of ₹51-54 a share for its ₹71.30 crore initial public offering (IPO). According to a report by Moneycontrol, the IPO will open for anchor investors on 27 September and will close on 4 October.
According to the report, the funds raised will go towards building a new factory for house wires, aluminum cables, and solar cables to expand the product portfolio as well as meet the company’s operational needs.
Plaza Wires is known to sell wires, LT aluminum cables, and FMEG products under brands like Action Wires, Plaza Cables, and PCG.
The company has a unit in Himachal Pradesh’s Baddi. In FY21, the company acquired 7,902 sq m of land in Himachal Pradesh for a new unit which will add 837,000 coils and 8,700 km of capacity a year, reported Moneycontrol.
As of December 2021, the firm reported revenue of ₹126.69 crore against a net profit of ₹5.74 crore. Net debt as of date stood at ₹40.65 crore.
Plaza Wires had filed the DRHP for the share sale involving a fresh issue of 1,64,52,000 equity shares last year.
IPOs this week:
Several companies are opening for subscription this week, along with a few that are getting listed on the bourses. These include-
IPOs This Week: JSW Infra IPO to Arabian Petroleum IPO; 16 new issues, 8 listings to keep primary market buzzing
JSW Infrastructure IPO: The mainboard issue opens on September 25 and closes on September 27
Updater Services IPO: Opening date 25 September and closing date 27 September.
Valiant Laboratories IPO: It will open for subscription on 27 September and will close on 3 October.
Digikore Studios IPO: This will open for subscription on 25 September and will close on 27 September.
Saakshi Medtech and Panels IPO
The SME IPO opens for subscription on September 25 and closes on September 27.
Inspire Films IPO: This will also open for subscription on 25 September along with Newjaisa Technologies, and Arabian Petroleum.
On 27 September, Kontor Space, E Factor Experiences, Vinyas Innovative Technologies, Canarys Automations will open for subscriptions.
Vishnusurya Projects and Infra IPO will open for subscription on September 29
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