25-Sep-2023
2 mins read
Plaza Wires Limited, a manufacturer and seller of wire, is all set to launch its initial public offering in the primary market to raise Rs 71.30 crore with a pure fresh issue of new shares in the market. The company has set a price band of Rs 51-54 per share with a face value of Rs 10. The subscription will open on September 29, 2023, and will conclude on October 4, 2023. The IPO will open for anchor investors on September 27 and will close on October 4, as per the report by Moneycontrol. As indicated in the report, the proceeds generated from the IPO will be allocated towards the construction of a new facility dedicated to the production of house wires, aluminium cables, and solar cables. This strategic investment aims to both broaden the company’s product range and address its operational requirements. Plaza Wires is renowned for marketing various products, including wires, LT aluminium cables, and FMEG (Fast Moving Electrical Goods), under well-recognized brands such as Action Wires, Plaza Cables, and PCG.
Plaza Wires Limited IPO Company Profile
Established in the year 2006, Plaza Wires Limited is actively involved in the manufacturing and distribution of wires, as well as the marketing and sales of LT aluminium cables and Fast Moving Electrical Goods (FMEG). The company operates under its prominent flagship brand, “PLAZA CABLES,” and also markets products under in-house brands like “Action Wires” and “PCG” for the domestic market.
Plaza Wires, initially established as Navratna Wires, specialises in a range of products within the wires and cables sector. Its primary offerings encompass house wires, single and multicore round flexible industrial cables, as well as industrial cables designed for submersible pumps and motors graded up to 1.1kv. Additionally, the company extends its product portfolio to include various other wire and cable items such as LT power control cables, co-axial cables for TV dish antennas, industrial cables for telephone and switchboards, cables for computer and LAN networking, close-circuit television cables, solar cables, PVC insulated tape, and PVC conduit pipes and associated accessories. Notably, these products are sourced from third-party manufacturers.
In terms of its post-sales service for electric fans, Plaza Wires has established partnerships with over 20 service centres across multiple regions, including Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana, and Tamil Nadu. Furthermore, in 2021, the company broadened its product range by introducing miniature circuit breakers and distribution boards (DB) in both the northern and southern regions of India.
Financials of Plaza Wires Limited
| Period Ended | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 |
| Assets | 99.28 | 104.17 | 112.1 |
| Revenue | 145.6 | 176.94 | 182.6 |
| Profit After Tax | 4.24 | 5.95 | 7.51 |
| Net Worth | 39.48 | 45.52 | 53.08 |
| Reserves and Surplus | 35.66 | 14.96 | 22.53 |
| Total Borrowing | 43.3 | 40.09 | 39.68 |
Important Dates for Plaza Wires Limited
| IPO Date | September 29, 2023 to October 4, 2023 |
| Listing Date | Thursday, October 12, 2023 |
| Face Value | Rs 10 per share |
| Price Band | Rs 51 to Rs 54 per share |
| Lot Size | 277 Shares |
| Total Issue Size | 13,200,158 shares Aggregating up to Rs 71.28 Cr |
| Fresh Issue | 13,200,158 shares Aggregating up to Rs 71.28 Cr |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 30,551,920 |
| Shareholding post issue | 43,752,078 |
Plaza Wires IPO Reservation
| 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 |
Objectives of Plaza Wires IPO
The company plans to allocate the net proceeds from the issue for the following purposes:
- Financing the capital expenditure required for establishing a new manufacturing facility dedicated to producing house wires, fire-resistant wires and cables, aluminium cables, and solar cables, with the aim of expanding its product range.
- Covering the working capital needs of the company, ensuring smooth day-to-day operations.
- Utilising the funds for general corporate purposes, which may include various operational and strategic initiatives.
Promoters of Plaza Wires
Mr. Sanjay Gupta and Mrs. Sonia Gupta are the company’s promoters.
Lead Managers of Plaza Wires IPO
Pantomath Capital Advisors Pvt Ltd is the lead manager of Plaza Wires IPO.
How to Apply for Plaza Wires IPO?
Wait for the public issue to open for subscription, then click on this link to apply for Plaza Wires IPO with Bigul: https://ipo.bonanzaonline.com/.
FAQ: Plaza Wires Limited IPO
- What is Plaza Wires Limited’s IPO all about?
Plaza Wires Limited is planning to launch its initial public offering (IPO) in the primary market to raise Rs 71.30 crore. This IPO will consist of a pure fresh issue of new shares. The company has set a price band of Rs 51-54 per share with a face value of Rs 10. The subscription period will open on September 29, 2023, and conclude on October 4, 2023.
- When will the Plaza Wires IPO be open for subscription?
The subscription will open on September 29, 2023, and will conclude on October 4, 2023
- What is the lot size for Plaza Wires Limited’s IPO?
The lot size for Plaza Wires Limited IPO is 277 shares.
- When is the listing date for Plaza Wires Limited IPO?
The listing date for Plaza Wires Limited IPO is Thursday, October 12, 2023.
- Who are the promoters of Plaza Wires Limited IPO?
Mr. Sanjay Gupta and Mrs. Sonia Gupta are the promoters of Plaza Wires Limited.
- Who is the lead manager of Plaza Wires Limited IPO?
Pantomath Capital Advisors Pvt Ltd is the lead manager of Plaza Wires Limited IPO.