BackPlaza Wires share price debuts at 41% premium at ₹76 on NSE
Plaza Wires share price listed at a premium of 40.7% on NSE, Plaza Wires price was listed at ₹84 per share on BSE.
PremiumPlaza Wires listing date: Plaza Wires share price was listed on the bourses at a premium on Thursday. On the NSE, Plaza Wires share price was listed at ₹76 per share, 40.7% higher than the issue price of ₹54, and on the BSE, Plaza Wires price was listed at ₹84 per share.
Plaza Wires IPO opened for subscription on Friday, September 29, and closed on Thursday, October 5. The company fixed the price band at ₹51 to ₹54 per equity share for the proposed initial public offer. Bids were made for a minimum of 277 equity shares and in multiples of 277 equity shares thereafter.
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Plaza Wires IPO was subscribed 4.73 times on day 1. Plaza Wires IPO subscription status on day 2 was 27.90 times. On day 3, Plaza Wires IPO subscription status was 62.75 times.
Plaza Wires IPO 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.
Also Read: Plaza Wires IPO listing date today. GMP, experts see strong debut of shares
Plaza Wires IPO details
Plaza Wires IPO, worth ₹71.28 crores, was completely a fresh issue of 13,200,158 equity share; there was 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.
Plaza IPO's book-running lead manager was Pantomath Capital Advisors Pvt Ltd, while the issue's registrar is Kfin Technologies Limited.
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.
Also Read: Plaza Wires IPO: Firm mobilises ₹20 crore from anchor investors ahead of issue
Plaza Wires IPO GMP today
Plaza Wires IPO GMP today or grey market premium is +23, similar to previous eight sessions. This indicates Plaza Wires share price were trading at a premium of ₹23 in the grey market on Wednesday, 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 ₹77 apiece, which is 42.59% higher than the IPO price of ₹54.
On last 18 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹24.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Also Read: Plaza Wires IPO: What does the latest GMP signal ahead of listing; check key details
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.
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