Plaza Wires IPO: This Wires Limited’s initial public offering (IPO) began accepting subscriptions on September 29, 2023, and it will close on October 5, 2023. This indicates that the deadline for submitting an application for this public issue that is being considered for listing on the BSE and NSE is today. Plaza Wires’ initial public offering (IPO) price range has been set at 51 to 54 rupees per equity share, with a target fundraising amount of 71.28 crore.
In the meantime, despite the negative mood on the Indian stock market, the grey market is dropping strong signs. Market watchers claim that today’s grey market share price for Plaza Wires Limited is a premium of 23.
Status of subscriptions to Plaza Wires IPO
By 3:00 PM on the third day of bidding, the public issue had received 138.59 subscriptions, while the retail component had received 343.35 subscriptions. The public offer’s NII segment has received 337.49 subscriptions, compared to the QIB segment’s 31.41 fills.
Investors can check their Plaza Wires IPO Allotment Status online by using their bank and Demat account, either offline or on the KFintech website. Step-by-step instructions will be given on how to monitor the wire allocation status online or offline. The company expects to raise between 51 and 54 rupees per equity share at a fixed price of 71.28 crores through the IPO. On the NSE BSE, there will be an IPO listing.
GMP Plaza Wires IPO
The Plaza IPO GMP, or grey market premium, is +12. This demonstrates that Plaza Wires shares were trading at a premium of $12 on Friday, according to investorgain.com. With the top end of the IPO pricing range and the current premium on the grey market taken into consideration, Plaza Wires’ estimated listing price was 66 per share, 22.22% more than the IPO price of 54.
| Date | Event |
| 29 September 2023 | Opening Date |
| 4 October 2023 | Closing Date |
| 9 October 2023 | Basis of Allotment |
| 10 October 2023 | Initiation of Refunds |
| 11 October 2023 | Demat Account Credit |
| 12 October 2023 | Listing Date |
Plaza Wires’ IPO Goals
The company plans to use the net proceeds from the offering to pay for its working capital needs, general corporate purposes, and the startup costs of a new manufacturing facility where it will make house wires, fire-resistant wires and cables, aluminum cables, and solar cables in order to broaden its product offering.
Plaza Wires IPO Booking
There are 13,200,158 shares available
RII: 1,320,015 (35.00%)
NII: 1,980,023 (15.00%)
QIB: 6,196,076 (75.00%)
According to Dilip Davda, a contributing editor at Chittorgarh.com, the company operates in a very competitive sector with many formidable rivals. According to the steady increase in both its top and bottom lines for the reported periods, the issue appears fully priced based on its FY23 profits. Investors may set money away in anticipation of medium- to long-term benefits in light of the company’s expansion plans.
