Plaza Wires, founded as Navratna Wires on August 23, 2006, manufactures and sells wires. It also markets LT aluminium cables and fast-moving electrical goods under brands like Plaza Cables, Action Wires, and PCG.
| Bidding Dates |
|---|
| 29 Sep 2023 - 05 Oct 2023 |
| Subscription |
|---|
| 160.98x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,958 | 1 | 13 | 277 | 13.2 M | ₹51 - ₹54 | 69.83 % | ₹673.2 M - ₹712.8 M | RHP DOC |
Plaza Wires IPO SUBSCRIPTION STATUS
05 Oct '23Plaza Wires IPO overall subscription rate was 160.98 times the total available shares
Plaza Wires IPO retail subscription rate was 374.8 times in the retail segment
Plaza Wires IPO non-institutional investor subscription rate was 388.1 times in the non-institutional investor category
Plaza Wires IPO Qualified Institutional Bidder subscription rate was 42.84 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
05 Oct 2023 (Day 4) | 374.8x | 388.1x | 42.84x |
04 Oct 2023 (Day 3) | 224.02x | 132.72x | 5.79x |
03 Oct 2023 (Day 2) | 118.24x | 53.06x | 0.42x |
29 Sep 2023 (Day 1) | 26.66x | 4.76x | 0x |
Plaza Wires FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 75.1 | 1,824.9 | 86.0 | 73.8 | 8.6% |
| FY22 | 59.5 | 1,767.7 | 110.4 | 66.6 | 7.5% |
| FY21 | 42.4 | 1,453.8 | -24.4 | -33.9 | 7.5% |
Plaza Wires IPO SUBSCRIPTION STATUS DETAILS
Plaza Wires had 13.2 M shares on offer
Plaza Wires IPO offer price was in the range ₹51 - ₹54
Plaza Wires IPO minimum Investment was ₹14958
Plaza Wires IPO issue size was ₹ 673.2 M - ₹ 712.8 M
Plaza Wires had a minimum lot size of 277 Shares per application
Plaza Wires NUMBER OF SHARES ON OFFER
Plaza Wires IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2023 |
| Issue close Date | 05 Oct 2023 |
| Allotment Date | 09 Oct 2023 |
| Refund Date | 11 Oct 2023 |
| Demat Account Credit Date | 12 Oct 2023 |
| Listing Date | 12 Oct 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Plaza Wires Allotment Status | Exchange |
Plaza Wires IPO subscription opened on 29 Sep 2023, and closed on 05 Oct 2023
IPO allotment for Plaza Wires was finalized on Monday, 09 Oct 2023
IPO listing for Plaza Wires was on NSE and BSE on Thursday, 12 Oct 2023
Plaza Wires IPO LISTING GAINS
| Issue Price (adjusted) | 54.0 |
| Listing Open Price | 76.0 |
| Listing Close Price | 80.2 |
| Listing Gain% | 40.7% |
| Current Gain% | -11.5% |
Plaza Wires Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Plaza Wires Ltd. | 47.8 | 209.1 | 28.6 | 0.2 | 0.7 | 5.6 | 4 | 318.4 | 45.4 | 7.3 | 153.2 | 1.7 | 153.2 |
| Polycab India Ltd. | 9218 | 138893.7 | 48.5 | 1.7 | 4.5 | 22.2 | 13 | 29120 | 28.8 | 2672 | 32.3 | 190.1 | 29.2 |
| KEI Industries Ltd. | 5600 | 53536.3 | 53.7 | 1.6 | 4.3 | 13.8 | 10.2 | 11906.3 | 21.4 | 918.4 | 31.9 | 104.3 | 34.4 |
| R R Kabel Ltd. | 2759.5 | 31211.5 | 51.4 | 0.6 | 2.9 | 19.1 | 10.6 | 9778.8 | 27.5 | 492.2 | 58 | 53.7 | 80.3 |
| Finolex Cables Ltd. | 1024.6 | 15670.9 | 22 | 11.9 | 2.5 | 11.7 | 10.2 | 6486.6 | 17.6 | 713.7 | 1.8 | 46.7 | 1.8 |
| Universal Cables Ltd. | 1411.2 | 4896.2 | 24.4 | 0.3 | 1.5 | 8.9 | 3.8 | 3051 | 25.5 | 163.1 | 82.5 | 57.7 | 71.7 |
Plaza Wires IPO Reports
Plaza Wires INFORMATION ON IPO ISSUE
About Plaza Wires
Plaza Wires, founded as Navratna Wires on August 23, 2006, manufactures and sells wires. It also markets LT aluminium cables and fast-moving electrical goods under brands like Plaza Cables, Action Wires, and PCG.
Object of the Issue
- Funding the capital expenditure towards setting up of 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
Plaza Wires - PROMOTERS
| Name |
|---|
| Sanjay Gupta |
| Sonia Gupta |
Plaza Wires Book Running Lead Manager
Pantomath Capital Advisors Private Limited
ipo@pantomathgroup.com
Plaza Wires Registrar to the Offer
KFinTechnologies Private Limited
plazawires.ipo@kfintech.com
Plaza Wires Strengths
Product portfolio
The company has a diverse product portfolio and recently expanded into FMEG products
Distribution network
The company's distribution network includes over 1,249 authorised dealers and distributors, 3 branch offices, a branch office cum godown in Maharashtra, 4 warehouses, and a C&F agent in Punjab
Plaza Wires Risks
Competition
The company operates in fragmented industry segments and faces competition from large players, potentially impacting its business operations and financial conditions
Reliant on third-party
The company depends on certain third-party manufacturers for some of its products but has no formal agreements with them
IPO FAQs
The promoters of the company are Sanjay Gupta and Sonia Gupta.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 51.0 - 54.0.
The IPO application opens on Sep 29, 2023 and closes on Oct 05, 2023.
The minimum lot size for the IPO is 277. The maximum lot size for the IPO is 3601.
For all category investors, the minimum application amount for this IPO is Rs. 14,958.0, the maximum value for this IPO is Rs 194,454.0.
This IPO will be allotted on Oct 09, 2023.
The refund will be credited to your account on Oct 11, 2023.
The allotted shares will be credited to your demat on Oct 12, 2023.
Plaza Wires Ltd.’s shares listed on the stock exchanges on Oct 12, 2023.