Vidya Wires IPO in focus: The IPO of Vidya Wires has witnessed a sharp rise in investor interest, especially from institutional participants, during the final day of bidding, which pushed the subscription rate nearly 30 times.
The issue, which opened on Wednesday, December 03, closed today, and during the three-day bidding period, it attracted bids for 115 crore shares against over 4.03 crore shares on offer, resulting in a subscription rate of 28.53 times, as per exchange data.
Among the investor categories, the non-institutional investor (NII) segment saw a strong spike in demand, with the quota being subscribed 56 times, while the qualified institutional buyer (QIB) portion was subscribed 5.45 times, and the retail investor portion was subscribed 30 times.
Vidya Wires IPO Details
Vidya Wires IPO, worth ₹300 crore, is priced in the range of ₹48-52 per equity share. The IPO is a combination of a fresh issue of 5.27 crore shares aggregating to ₹274 crore and an offer for sale of 0.50 crore shares aggregating to ₹26.01 crore.
The company plans to utilise net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and for general corporate purposes.
As the bidding for the issue closed, investors can expect the allotment of basis to be finalised on December 08, with the listing expected to take place next Wednesday on December 10.
Vidya Wires IPO GMP
Vidya Wires IPO grey market premium (GMP) today stood at ₹06. This means that in the grey market, Vidya Wires shares are trading at ₹52 above the upper end of the price band.
At the prevailing GMP, Vidya Wires shares could list at ₹58, a premium of 11.54%. The grey market premium signals investor willingness to pay over and above the issue price.
About Vidya Wires
Vidya Wires manufactures winding and conductivity products for a range of critical industries and applications. Its product portfolio includes precision-engineered wires, enameled copper rectangular strips, paper-insulated copper conductors, copper busbars and bare copper conductors, specialized winding wires, PV ribbons, and aluminum paper-covered strips, among others.
The company's products are used in varied critical applications such as energy generation & transmission, electrical systems, electric motors, clean energy systems, electric mobility, and railways.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
