Plaza Wires IPO Detail 2023
Introduction
The Plaza Wires IPO will open on September 29 and close on October 4, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 71.28 crore through this public offering, consisting of 132 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 51 to ₹5 4 per share.
Plaza Wires Limited (“the Company”)
Incorporated in 2006. This is an ISO 9001:2015 and 14001:2015 certified company engaged in the business of manufacturing and selling wires, and selling and marketing LT aluminum cables and fastmoving electrical goods (“FMEG”) under its flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”.
In 2021, the company launched a line of house wire under the brand “Action Wires” for products in the economical price range. According to the Resurgent India Research Report, they are one of the growing manufacturers in the networks and cables industry in northern India and provide an extensive range of wires and cables.
Its product mix comprises different types of wires and cables and FMEG such as electric fans, water heaters, switches and switchgear, PVC-insulated electrical tape, and PVC conduit pipe and accessories.
Plaza Wires Limited’s business model includes
- Its dealer and distribution network sells and promotes company products, including sales through C&F agents. They select their dealers and distributors based on their sales network, market reputation, and financial strength, including sales and
- Securing government tenders for supply to government projects and
- Direct sales to infrastructure projects
The company is a growing manufacturer of wires and cables, and it will continue to broaden its brand in its wires and cables business and FMEG business. The company has been recognized as among the “10 Most Promising Electrical Cable Manufacturers” by Industrial Outlook Magazine. These were awarded the Time2Leap award in the product category of “Quality Products: Electrical Cables” by Summentor Pro.
Company Key Metrics
| Market Cap | ₹ 236.26 Crore |
| Earning Per Share (EPS) | ₹ 2.46 per Equity Share |
| Debt to Equity Ratio | 0.75 |
| ROE | 14.15% |
| ROCE | 15.57% |
| P/E (x) | 21.95 |
| Return on Net Worth (RoNW) | 14.16% |
Objects of the Issue,
- Funding the capital expenditure towards setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio.
- Funding the working capital requirements of the company.
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 53.08 | 45.52 | 39.48 |
| Total Assets | 112.10 | 104.17 | 99.28 |
| Reserve & Surplus | 22.53 | 14.96 | 35.66 |
| Total Borrowings | 39.68 | 40.09 | 43.30 |
| Total Revenue | 182.60 | 176.94 | 145.60 |
| Profit After Tax | 7.51 | 5.95 | 4.24 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 51 to ₹ 54 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 277 Shares |
| Issue Size | 13,200,158 shares (aggregating up to ₹ 71.28 crores) |
| Fresh Issue | 13,200,158 shares (aggregating up to ₹ 71.28 crores) |
| Listing At | NSE and BSE |
Shareholding Pattern
| Shareholding pre-issue | 30,551,920 |
| Shareholding post issue | 43,752,078 |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not less than 75.00% of the net offer |
| NII (HNI) shares offered | Not more than 15.00% of the offer |
| Retail shares offered | Not more than 10.00% of the offer |
GMP: Plaza Wires IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Plaza Wires IPO
The issue opens for subscription on September 29, 2023, and closes for subscription on October 4, 2023 (both days inclusive). The basis of allotment will be finalised on October 9, 2023, and the refunds will be initiated on October 10, 2023. In addition, the demat credits are expected to happen on October 11, 2023, and the stock will be listed on the NSE SME on October 12, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 29, 2023 |
| Closing Date | October 4, 2023 |
| Basis of Allotment | October 9, 2023 |
| Initiation of Refunds | October 10, 2023 |
| A credit of shares to Demat A/c | October 11, 2023 |
| Listing Date | October 12, 2023 |
Lot Size
The lot size of the Plaza Wires IPO is 277 shares. A retail-individual investor can apply for up to 13 lots, i.e. 3,601 shares of ₹ 194,454.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 277 | ₹ 14,958 |
| Retail (Maximum) | 13 | 3,601 | ₹ 194,454 |
| S-HNI (Minimum) | 14 | 3,878 | ₹ 209,412 |
| S-HNI (Maximum) | 66 | 18,282 | ₹ 987,228 |
| B-HNI (Minimum) | 67 | 18,559 | ₹ 1,002,186 |
Promoters Holdings
Mr. Sanjay Gupta and Mrs. Sonia Gupta are the promoters of the company.
| Pre-issue Shares Holdings | 100.00% |
| Post-issue Shares Holdings | 69.83% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHPI PO RHP |
| Company Contact Information | Plaza Wires Limited A-74 Okhla Industrial Area, Phase-2 New Delhi South Delhi – 110020 Phone: 011-66369696 Email: compliance@plazawires.in Website: https://www.plazawires.in/ |
| IPO Registrar | KFIN Technologies Limited Phone: 04067162222, 04079611000 Email: plazawires.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
| IPO Lead Manager(s) | Pantomath Capital Advisors Pvt Ltd |
FAQs
The Plaza Wires IPO price is ₹ 51 to ₹ 54 per share.
The minimum investment size is one lot for retail investors. One lot of the Plaza Wires IPO contains 277 shares of ₹ 14,958.
The finalisation of the basis of allotment for the Plaza Wires IPO will be done on October 9, 2023, and the allotted shares will be credited to your demat account by October 11, 2023. Check the Plaza Wires IPO allotment status.
The Plaza Wires IPO shares listing date is October 12, 2023.
The investors’ portion for QIB is 75% of the Net offers, NII (HNI) is 15%, and retail is 10% of the offer.
