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Plaza Wires IPO Detail 2023

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

  1. 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
  2. Securing government tenders for supply to government projects and
  3. 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 Ratio0.75
ROE14.15%
ROCE15.57%
P/E (x)21.95
Return on Net Worth (RoNW)14.16%

Objects of the Issue,

  1. 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.
  2. Funding the working capital requirements of the company.
  3. General corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth53.0845.5239.48
Total Assets112.10104.1799.28
Reserve & Surplus22.5314.9635.66
Total Borrowings39.6840.0943.30
Total Revenue182.60176.94145.60
Profit After Tax7.515.954.24
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 51 to ₹ 54 per share
Face Value₹ 10 per share
Market Lot277 Shares
Issue Size13,200,158 shares (aggregating up to ₹ 71.28 crores)
Fresh Issue13,200,158 shares (aggregating up to ₹ 71.28 crores)
Listing AtNSE and BSE

Shareholding Pattern

Shareholding pre-issue30,551,920
Shareholding post issue43,752,078

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot less than 75.00% of the net offer
NII (HNI) shares offeredNot more than 15.00% of the offer
Retail shares offeredNot 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 DateSeptember 29, 2023
Closing DateOctober 4, 2023
Basis of AllotmentOctober 9, 2023
Initiation of RefundsOctober 10, 2023
A credit of shares to Demat A/cOctober 11, 2023
Listing DateOctober 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)1277₹ 14,958
Retail (Maximum)133,601₹ 194,454
S-HNI (Minimum)143,878₹ 209,412 
S-HNI (Maximum)6618,282₹ 987,228
B-HNI (Minimum)6718,559₹ 1,002,186

Promoters Holdings 

Mr. Sanjay Gupta and Mrs. Sonia Gupta are the promoters of the company.

Pre-issue Shares Holdings100.00%
Post-issue Shares Holdings69.83%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHPI
PO RHP
Company Contact InformationPlaza Wires Limited
A-74 Okhla Industrial Area, Phase-2 New Delhi South Delhi – 110020
Phone: 011-66369696
Email: [email protected]
Website: https://www.plazawires.in/
IPO RegistrarKFIN Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
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.

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