Plaza Wires IPO: Plaza Wires, an ISO 9001:2015 and 14001:2015 certified company is set to open its Initial Public Offering on 29 September 2023. The IPO will close on 4 October 2023 offering a 5-day window for investors to participate.
The Plaza Wires IPO is currently forthcoming and has generated considerable interest among investors. You can pre-apply for the Plaza Wires IPO on Upstox. which means the pre-apply open date, usually begins a day before the IPO opens for the subscription.
Plaza Wires IPO
Plaza Wires has listed its symbol as “_” for the IPO. The company aims to raise funds by offering 13,200,158 shares, aggregating up to ₹71.28 Cr.
The price band for the shares has been set at ₹51 to ₹54 per share with a face value of ₹10 each. Investors keen on participating will need to purchase a minimum of one lot consisting of 277 shares. This book-built issue IPO will subsequently be listed on two of India’s premier stock exchanges, BSE and NSE.
The breakdown of the offer reveals that not less than 75.00% of the net offer is reserved for Qualified Institutional Buyers (QIB), while no more than 15.00% will be allocated for Non-Institutional Investors (NII or HNI). Retail investors will have the opportunity to participate with an allocation not exceeding 10.00% of the offer.
Before the IPO, the company’s shareholding stands at 100%, which will reduce to 69.83% post the IPO.
Investors will need to keep an eye out for important dates following the close of the IPO. The basis of allotment will be decided on 9 October 2023. Those who do not secure an allotment can expect refunds to be initiated on 10 October 2023. Successful allottees will see the shares credited to their Demat accounts by 11 October 2023. The listing date for Plaza Wires has been scheduled for 12 October 2023.
Plaza Wires IPO Details
| Open Date | 29 September 2023 |
| Close Date | 4 October 2023 |
| Lot Size | 277 Shares |
| IPO Size | 13,200,158 shares (₹71.28 Cr) |
| IPO Price | ₹51 to ₹54 per share |
| Min Investment (Retail) | ₹51 x 277 = ₹14,127 (approx.) |
| Listing Exchange | BSE, NSE |
| Basis of Allotment | 9 October 2023 |
| Refunds | 10 October 2023 |
| Credit to Demat Account | 11 October 2023 |
| Listing Date | 12 October 2023 |
| RHP | Download |
| DRHP | Download |
Apply for the Plaza Wires IPO
You can pre-apply for the Plaza Wires IPO on Upstox. Follow these steps to pre-apply for the IPO:
- Click on the “Open an Account“
- Fill in the required details
- Complete the verifying your identity
- Login to Your Account
- in the IPO section, click the ‘Plaza Wires IPO’ tab
- fill in the required information, like ‘bid price’ and ‘lot size’
- Confirm and click on ‘Pre-Apply’
Plaza Wires IPO GMP Status
Plaza Wires is open from 29 September to 4 October 2023 and people’s eyes have been on the grey market premium (GMP) to gauge investor sentiment. GMP is the rate at which the IPO shares are traded in the grey market before they get listed on the stock exchange. It’s an unofficial way of measuring the market’s sentiment about the IPO.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price |
|---|---|---|---|---|
| 26-09-2023 | 54.00 | ₹12 | 2500/35000 | ₹66 (22.22%) |
| 25-09-2023 | 54.00 | ₹12 | 2500/35000 | ₹66 (22.22%) |
| 24-09-2023 | 54.00 | ₹0 | — | ₹54 (0%) |
On 24 September 2023, the IPO was priced at ₹54.00, and intriguingly, the grey market premium was at ₹0, showing no change in the GMP movement for the day. Consequently, the estimated listing price, as anticipated by the grey market, was unchanged at ₹54, a 0% deviation from the IPO price.
However, a notable shift was witnessed on 25 September 2023. The GMP surged to ₹12, marking an increase from the previous day. This uptick pointed towards an escalating interest from the investor community. The Sub2 Sauda rate, a component of the grey market, was documented at 2500/35000. Consequently, the grey market’s estimated listing price for the Plaza Wires IPO was at ₹66, a rise of 22.22% from the original IPO price.
Continuing this momentum, 26 September 2023 observed the GMP holding its ground at ₹12, with no change recorded for the day. The Sub2 Sauda rate remained consistent at 2500/35000, and the anticipated listing price from the grey market stood at ₹66, marking a 22.22% increase.
For more information on Plaza Wires’ day-wise IPO GMP trend, check out the table above.
About Plaza Wires
Plaza Wires stands tall in the realm of manufacturing and selling wires. It also holds a significant market presence in the marketing of LT aluminum cables and fast-moving electrical goods (FMEG).
Riding under the flagship brand “PLAZA CABLES”, the company also boasts its home brands “Action Wires” and “PCG”. Founded with an ambition to carve a niche in the domestic wire and cable industry, the company remains committed to offering quality products at competitive prices catering to a diverse socio-economic consumer base.
Adding a feather to its cap in 2021, Plaza Wires introduced a line of house wire under the “Action Wires” brand, targeting consumers seeking economical pricing without compromising on quality.
The Resurgent India Research Report recognizes Plaza Wires as a rising star among manufacturers in the northern region of India, known for its extensive range of wires and cables. With a product mix that includes electric fans, water heaters, switches, switchgear, PVC insulated electrical tapes, and PVC conduit pipe & accessories, the company continues to diversify and expand.
Impressively, the wires and cables industry in India witnessed a compound annual growth rate (CAGR) of approximately 13.68% in the past half-decade, reaching a staggering ₹788.00 billion in the fiscal year 2021. Projections by Resurgent India Limited anticipate the industry’s expansion at a CAGR of about 14.50%, estimating a value close to ₹1550.00 billion by 2026.
In its product roster, Plaza Wires takes pride in house wires, flexible industrial cables, and industrial cables specifically designed for submersible pumps & motors up to a 1.1kv grade. Furthermore, to cater to diverse product requirements like LT power control cables, co-axial cables, computer & LAN networking cables, and more, Plaza Wires collaborates with third-party manufacturers, chosen for their impeccable product quality, reputation, and delivery standards. Adhering to Indian benchmarks, Plaza Wires ensures compliance with the Bureau of Indian Standards (BIS) and QCL Certification.
Circa 2016 marked Plaza Wires’ venture into FMEG products, partnering with third-party manufacturers to launch electric fans and water heaters. By 2021, their product lineup expanded to include miniature circuit breakers and distribution boards in the north and south Indian regions.
With an operational history that spans over a decade, Plaza Wires’ supply chain predominantly operates through a vast network of authorized dealers, distributors, retailers, and C & F agents, catering to retail outlets pan India.
As of 31 March 2023, the company boasted ties with over 1249 authorized dealers and distributors and a C & F agent in Punjab. Their products have found a home across several states, primarily in Delhi, Uttar Pradesh, Haryana, Kerala, and Rajasthan. Financially, the states contributed significantly to the company’s revenue over the past three years, accounting for ₹ 1,382.27 million in 2023, ₹ 1,388.28 million in 2022, and ₹ 1,180.55 million in 2021.
Plaza Wires Company Milestones
2006:
- Incorporation of our Company with the name “Navratna Wires Private Limited”.
2009:
- Ventured into the marketing and sales of Aluminium Cables through third-party manufacturers under our home brand ‘Plaza Cables’.
- Purchase of land, building, plant & machinery, and other misc. fixed assets from Sonia Gupta, then partner of Plaza Electrical Industries, for consideration other than cash.
2010:
- Ventured into the marketing and sales of PVC Insulated Tapes for the retail market through third-party manufacturers under our home brand ‘PCG’.
2011:
- Ventured into the marketing and sales of PVC Conduit Pipes and Accessories through third-party manufacturers under our home brand ‘PCG’.
2016:
- Our Company expanded its operations by entering the market in southern India, starting with Kerala and expanding to Tamil Nadu and Karnataka.
2017:
- Launch of the 3D Wires which have triple layer bunching and triple coating of PVC.
2018:
- Ventured into the marketing and sales of ceiling fans, ventilation fans, TPW fans, exhaust fans, and Ferrata fans through third-party manufacturers under our home brand ‘Plaza Cables’.
2020:
- Recognized as amongst the “10 Most Promising Electrical Cable Manufacturers” by the Industrial Outlook Magazine.
2021:
- Our Company launched miniature circuit breakers and distribution boards. Introduced a new type of economical wire under the brand viz. “Action Wires” to fill the gap for a quality product at an economical price.
- Awarded the Time2Leap award in the product category of “Quality Products – Electrical Cables” by Summentor Pro.
Plaza Wires IPO Allotment Status
| Application | Lots | Shares |
|---|---|---|
| Retail (Min) | 1 | 277 |
| Retail (Max) | 13 | 3601 |
| S-HNI (Min) | 14 | 3,878 |
| S-HNI (Max) | 66 | 18,282 |
| B-HNI (Min) | 67 | 18,559 |
When the allotment process is completed, you can check the status of your application on the Upstox. how to check the Plaza Wires IPO allotment status:
- Login to your Upstox Account
- find the ‘Invest in IPO’ section.
- Click on the ‘View all option
- Click on My applications
- under the History section
- your Plaza Wires IPO allotment status will be mentioned.
Plaza Wires Company Financials
For the fiscal year ending 31 March 2021, Plaza Wires reported total assets worth ₹99.28 crore, which saw a steady rise to ₹104.17 crore in 2022, further augmenting to ₹112.10 crore by the end of 31 March 2023.
The revenue figures further underline the firm’s growth trend. While the revenue stood at ₹145.60 crore for the fiscal year 2021, it shot up to ₹176.94 crore in 2022. The upward trajectory continued with the revenue registering ₹182.60 crore by 31 March 2023.
Moving on to the bottom line, the Profit After Tax (PAT) also showcased promising figures. From ₹4.24 crore in 2021, it rose to ₹5.95 crore in 2022 and further to ₹7.51 crore in 2023. This consistent upward move in PAT over three consecutive years signifies effective management and strategic operations.
The company’s net worth has also seen a steady rise, marking ₹39.48 crore in 2021, which went up to ₹45.52 crore in 2022, and further rose to ₹53.08 crore by the end of March 2023.
However, the reserves and surplus showcased an interesting trend. From ₹35.66 crore in 2021, it saw a dip in 2022 at ₹14.96 crore but rebounded in 2023, reaching ₹22.53 crore.
In terms of borrowings, the company managed to decrease its total borrowings from ₹43.30 crore in 2021 to ₹40.09 crore in 2022 and further slightly reduced it to ₹39.68 crore by 2023.
Peeking into some key performance indicators, the company’s Price to Earnings (P/E) ratio stands at 21.95x. With a market capitalization of ₹236.26 crore, the Return on Equity (ROE) is at 14.15%, and the Return on Capital Employed (ROCE) is 15.57%. Furthermore, the Debt to Equity ratio stands at 0.75, and the Earnings Per Share (EPS) is pegged at ₹2.46. The Return on Net Worth (RoNW) is at 14.16%.
Plaza Wires IPO price?
– The Plaza Wires IPO price band from ₹51 to ₹54 per equity share.
Plaza Wires IPO date?
– The public issue opened on 29 September 2023 and will close on 4 October 2023.
Plaza Wires IPO lot size?
– The lot size for the Plaza Wires IPO is 277 equity shares.
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it’s important to note that GMP is not an official measure and often varies. It provides an early indicator of potential demand but does not guarantee the actual listing price. The GMP prices shown here are only news related to the grey market. We do not trade/deal in the grey market or subject to rates (sub2), nor do we recommend trading in the grey market
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Sharedhan. We advise investors to check with certified experts before making any investment decisions.
