Plaza Wires IPO is a book-built IPO of Rs. 71.28 crores, which is entirely a fresh issue of shares. The issue is priced in the range of Rs. 51 to Rs. 54 per share, and the lot size is 277 shares. The IPO opened on September 29 and closed on October 5, 2023. It was fully subscribed on the first day of bidding, and the retail portion of the IPO was oversubscribed 26.85 times.
About Plaza Wires Limited
- Plaza Wires is a leading manufacturer of wires and cables in India.
- Plaza Wires sells its products under the flagship brand ‘Plaza Cables’ and home brands ‘Action Wires’ and ‘PCG’.
- The company’s main products include PVC insulated housing wires and cables, fire-resistant wires and cables, aluminium cables, and solar cables. The company also offers FMEG products such as LED lights, fans, switches, and MCBs.
- The company has a distribution network of over 1,000 dealers and distributors across 31 states and union territories in India. The company also sells its products directly to government entities and institutional customers.
- The company’s existing manufacturing unit is located at Baddi, Himachal Pradesh, with an installed capacity of 12,00,000 coils per annum. The proposed manufacturing unit will be located at Kala Amb, Himachal Pradesh, with an additional capacity of 8,37,000 coils per annum and 8,700 km per annum.
- The company’s promoters are Sanjay Gupta and Sonia Gupta who hold 93.68% of the pre-issue paid-up equity share capital of the company. They have experience in the wires and cables industry for over two decades.
Plaza Wires IPO net proceeds
The company plans to use the net proceeds from the issue for the following purposes:
- Setting up a new manufacturing unit: An estimated amount of ₹244.13 million will be used to fund the capital expenditure towards setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand their product portfolio.
- Working capital requirements: The company plans to allocate ₹220.00 million towards funding the working capital requirements.
- General corporate purposes: A portion of the proceeds will also be used for general corporate purposes.
Plaza Wires’s financial performance
Plaza Wires’s financial performance over the years ended March 31 for 2023, 2022 and 2021. I hope this helps you understand the financial performance of the company better.
| Particulars | For year ended March 31, 23 | For year ended March 31, 22 | For year ended March 31, 21 |
|---|---|---|---|
| Revenue from Ops (₹ in Cr) | 182.49 | 176.77 | 145.38 |
| PAT (₹ in Cr) | 7.51 | 5.95 | 4.24 |
| Borrowings (₹ in Cr) | 39.68 | 40.09 | 43.30 |
Plaza Wires Limited’s Strength
The company’s competitive strengths include its product portfolio focused on various customer segments and markets; its distribution network; its management and dedicated employee base; its quality standards and certifications; its research and development capabilities; and its brand recognition and reputation.
Plaza Wires Risk Factor
The company’s risk factors include its dependence on a limited number of suppliers for raw materials; its exposure to fluctuations in prices of raw materials
Plaza Wires Futue Growth Prospects
The company’s business strategies include expanding its manufacturing capabilities and product portfolio; strengthening its distribution network; enhancing its brand visibility; diversifying its customer base; leveraging its research and development capabilities; and pursuing strategic acquisitions or partnerships.
Key details of Plaza Wires IPO:
- Issue type: Book-built IPO
- Issue size: Rs. 71.28 crores
- Price band. Rs. 51 to Rs. 54 per share
- Lot size. 277 shares
- Minumum investment amount. ₹14,127
- Issue dates. September 29 to October 5, 2023
- Listing date. October 12, 2023
- Book running lead manager (BRLM). Pantomath Capital Advisors Private Limited
- IPO registrar. KFin Technologies
Plaza Wires IPO gmp today nse
Plaza Wires GMP today, October 5, 2023, is Rs. 24, according to multiple sources. This means that the grey market is expecting the stock to list at Rs. 78 per share, a premium of 44.44% over the IPO price of Rs. 54 per share.
Plaza Wires IPO Listing
PWL IPO is expected to list on the BSE and NSE stock exchanges on October 12, 2023.
READ MORE: Plaza Wires IPO Allotment Status: Check Now!
Plaza Wires IPO Review
Plaza Wires IPO FAQs
What is the size of Plaza Wires Limited IPO?
Rs. 71.28 crores
Who is the CEO of Plaza Cable?
Plaza Wires Limited is headed by Mr. Sanjay Gupta, Managing Director.
What is the revenue of Plaza Cables?
The company’s revenue from operations for the financial years ended March 31, 2023, 2022, and 2021 were ₹182.49 crore, ₹176.77 crore, and ₹145.38 crore respectively.
Plaza Wires IPO Market Cap?
Plaza Wires’ IPO has an indicative market cap of around ₹237 crore at the upper price band of ₹54 per share
Plaza Wires IPO ‘s KPI
The IPO’s P/E ratio is 21.95X, and the company has an ROE of 14.15% and ROCE of 15.57%
Plaza wires ipo rhp
Plaza wires ipo rhp can be found on Plaza wires’ website
Disclaimer: This is not financial advice. Do your own research before investing. IPO dates can change anytime, so check with your broker for the latest information.