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Business News/ Markets / Ipo/  Plaza Wires share price debuts at 41% premium at 76 on NSE
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Plaza 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.

Plaza Wires IPO lists on the bourses today. (Photo: Courtesy company website)Premium
Plaza Wires IPO lists on the bourses today. (Photo: Courtesy company website)

Plaza 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

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.

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

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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Published: 12 Oct 2023, 10:00 AM IST
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