Plaza Wires IPO Review

 
Plaza Wires IPO Review

IPO Open Date: September 29, 2023

IPO Close Date: October 4, 2023

IPO Price: ₹51 to ₹54 per share

Lot Size: 277 Shares

Listing: October 12, 2023

Plaza Wires



Plaza Wires is scheduled to hit the market on September 29, 2023 and close on October 4, 2023. Plaza Wires plans to raise around ₹71.28 Cr through an IPO with a sale of up to 13,200,158 equity shares of ₹10 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.

Established in 2006, Plaza Wires Limited is a prominent player in the manufacturing and distribution of wires, as well as the marketing of LT aluminium cables and fast-moving electrical goods (FMEG). Operating under its flagship brand “PLAZA CABLES” and home brands like “Action Wires” and “PCG,” the company has established itself as a significant presence in the industry.

Plaza Wires, originally incorporated as Navratna Wires, specializes in an array of products within the wires and cables segment. Their product portfolio includes house wires, single and multicore round flexible industrial cables, and industrial cables designed for submersible pumps and motors up to 1.1kv grade. Additionally, the company offers a diverse range of wires and cable products, including LT power control cables, TV dish antenna co-axial cables, telephone and switchboard industrial cables, computer and LAN networking cables, closed-circuit television cables, solar cables, PVC insulated tape, and PVC conduit pipe and accessories.

Plaza Wires IPO Details

Plaza Wires IPO opens on Sept 29, 2023, and closes on Oct 4, 2023. The Listing date for Plaza Wires IPO is on Oct 12, 2023. The price band for IPO is ₹51 to ₹54 per share and lot size of 277 Shares.

IPO DateSept 29, 2023 to Oct 04, 2023
Listing DateOct 12, 2023
Price₹51 to ₹54 per share
Lot Size277 Shares
Issue Size₹71.28 Cr
Face Value₹10 per share

Plaza Wires IPO Tentative Timetable

Plaza Wires opening date is September 29, 2023 and close date is October 4, 2023. The IPO allotment date is October 9, 2023. The refund initiation of IPO is on October 10, 2023. The credit of shares in demat account is on October 11, 2023. The listing date is on October 12, 2023.

EventDate
IPO OpeningSept 29, 2023
IPO ClosingOct 04, 2023
IPO Allotment DateOct 09, 2023
Refund InitiationOct 10, 2023
Shares Credit to DematOct 11, 2023
Lisiting DateOct 12, 2023

Plaza Wires IPO Lot Size

Lot Size of this IPO is 277 shares. A retail-individual investor can apply for up to 13 lots ( 3601 shares or ₹194,454).

CategoryLotsSharesAmount
Retail(Minimum)1277₹14,958
Retail(Maximum)133601₹194,454
S-HNI (Minimum)143,878₹209,412
B-HNI (Minimum)6718,559₹1,002,186

Plaza Wires IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding69.83%

Plaza Wires IPO Review

Plaza Wires Limited is an established company engaged in the manufacturing and selling of wires, LT aluminium cables, and fast-moving electrical goods (FMEG) under various brand names, including “PLAZA CABLES,” “Action Wires,” and “PCG.” The company has a diverse product portfolio that includes house wires, industrial cables, cables for submersible pumps and motors, power control cables, co-axial cables, networking cables, CCTV cables, and more.

Plaza Wires offers a wide range of electrical products, which can be advantageous in catering to various customer needs. The expansion of its product portfolio in 2021, with the introduction of miniature circuit breakers and distribution boards, indicates a commitment to diversification. he company has an extensive network of authorized dealers, distributors, branch offices, and warehouses in multiple states. This distribution network can help in reaching customers effectively and efficiently. Plaza Wires has taken steps to enhance customer service by establishing tie-ups with service centers for electric fans. This focus on customer support can contribute to brand loyalty and customer satisfaction.

As of March 31, 2023, the company has over 1249 authorized dealers and distributors, 3 branch offices in Rajasthan, Uttarakhand, and Uttar Pradesh, 1 branch office cum godown at Maharashtra, 4 warehouses in Uttar Pradesh, Assam, Kerala and Delhi, and C&F agent in 1 state, viz. Punjab.

Plaza Wires IPO Subscription Status (Bidding Details)

InvestorSubscription
Qualified Institutions (QII)0
Non-Institutional Buyers0
  bNII (bids above ₹10L)0
  sNII (bids below ₹10L)0
Retail Investors(RII)0
Employees0
Others0
Total0

Plaza Wires IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Plaza Wires IPO FAQs

What is Plaza Wires IPO?

Plaza Wires is issuing 13,200,158 equity shares with a face value of ₹10 each, totaling up to ₹71.28 Cr. The shares are being offered at a price of ₹51 to ₹54 each, with a minimum order quantity of 277 shares.

Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Plaza Wires IPO will open?

Plaza Wires will open on September 29, 2023 for QIB, NII, and Retail Investors.

When Plaza Wires IPO will end?

Plaza Wires will end on October 4, 2023.

What is Plaza Wires IPO Size?

Plaza Wires IPO size is 71.2 Cr.

What is Plaza Wires IPO Price Band?

Plaza Wires price band is ₹51 to ₹54.

What is the Plaza Wires IPO Allotment Date?

Plaza Wires allotment date is 09 October 2023.

What is the Plaza Wires IPO Listing Date?

Plaza Wires listing date is 12 October 2023. The IPO is to be listed on BSE and NSE.

How to Apply Plaza Wires IPO through Zerodha?

To apply for the IPO “Plaza Wires” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Plaza Wires IPO through Upstox?

To apply for the IPO “Plaza Wires” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Plaza Wires IPO Allotment Status?

For Plaza Wires IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Plaza Wires IPO GMP?

You can check out here: Plaza Wires IPO GMP

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About Manish Sharma

I'm tech-savvy, loves to write about saving, investing and proper financial planning. Also, I am a blogger, share everything with 100% transparency and the best of my knowledge.

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