Plaza Wires IPO: Latest GMP, subscription status, other details. Apply or not? | Mint
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Business News/ Markets / Stock Markets/  Plaza Wires IPO: Latest GMP, subscription status, other details. Apply or not?

Plaza Wires IPO: Latest GMP, subscription status, other details. Apply or not?

Plaza Wires IPO GMP: Shares of the company are available at a premium of ₹23 in grey market today

Plaza Wires IPO price band has been fixed at ₹51 to ₹54 per equity share. (Photo: Courtesy company website)Premium
Plaza Wires IPO price band has been fixed at 51 to 54 per equity share. (Photo: Courtesy company website)

Plaza Wires IPO: The initial public offering (IPO) of Plaza Wires Limited opened for subscribers on 29th September 2023 and it is going to end on 5th October 2023. This means, today is the last date to apply for this public issue proposed for listing on BSE and NSE. The company has fixed Plaza Wires IPO price band has been fixed at 51 to 54 per equity share and the company aims to raise 71.28 crore from this public offer. 

Meanwhile, grey market is dropping strong signals despite weak sentiments on Indian stock market. According to market observers, shares of Plaza Wires Limited are available at a premium of 23 in grey market today.

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Plaza Wires IPO GMP today

Market observers said that Plaza Wires IPO grey market premium (GMP) today is 23, which is huge as market sentiments are highly bearish these days. Indian stock market has been under sell off stress for the last two days due to weak global cues. They said that strong response by investors is one of the possible reasons that has fuled grey market sentiment amid weak stock market.

Plaza Wires IPO subscription status

On day four of bidding, the public issue has been subscribed 160.97 times whereas its retail portion has been subscribed 374.81 times. The NII portion of the public offer has been subscribed 388.09 times whereas its QIB segemnt has been filled 42.84 times.

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Plaza Wires IPO review

Giving 'subscribe' tag to Plaza Wires IPO, Asit C Mehta report says, "The electrical wires segment (largely housing) has witnessed a sharp transformation over the last several years. Involvement of customer in purchases of electrical has risen sharply. Electrical fault is one of the major causes of residential fires and its potential hazard is increasing as more electrical appliances are found in each household unit nowadays. With an increase in fire accidents caused by electrical faults, consumer preference towards branded manufacturers has been on the rise."

"According to sources, the wires and cables industry in India, in value terms, has grown at a compound annual growth rate (“CAGR") of approximately 13.68% in the last five years to reach 788.00 billion in Fiscal 2021. From some sources, wires and cables industry in India is expected to expand at a CAGR of approximately 14.50% in value terms to reach approximately 1550.00 billion by Fiscal 2026," Asti C Mehta report added.

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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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 05 Oct 2023, 09:23 AM IST
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