Plaza Wires Limited IPO is set to launch on 29 September, 2023. The company initiated its business operations in the year 2006. It manufactures and sells wires, LT Aluminium cables, FMEG etc. The company sells its products under the brand name PLAZA Cables, PCG and Action Wires. The key products of the company are wires and cables. These include single and multi core round flexible industrial cables, house wires and industrial cables for submersible pumps and motors. Other products include LT Power control cables, telephone and switchboard industrial cables, TV Dish antenna coaxial cables, Computer and LAN networking cables, PVC insulated tape, close circuit television cables and solar cables, PVC conduit pipe and accessories etc. It has 1249 authorised dealers, 1 brand and godown in Maharashtra, 3 Branch offices in Rajasthan UP and Uttarakhand, 4 warehouses in Assam, UP, Delhi and Kerala and a C&F agent in Punjab.
Plaza Wires Limited IPO DETAILS
Plaza Wires Limited IPO is set to launch on 29 September, 2023. The subscription timeline extends till 4 October, 2023. The size for the IPO is 71.28 Crore Rs. Shares issued through fresh issue mode are worth 71.28 Crore Rs. No shares are Issued through offer for sale mode. The lot size is 277 shares and the price is 51 to 54 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is KFin Technologies Limited.
Tabular Description of Plaza Wires Limited IPO
| IPO OPENING DATE | 29 September, 2023 |
| CLOSING DATE FOR IPO | 4 October, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 51 Rs. to 54 Rs. per share |
| LOT SIZE | 277 shares |
| MINIMUM ORDER QUANTITY | 277 shares |
| ISSUE SIZE | 71.28 Crore Rs. |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | 71.28 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 11 October, 2023 |
Plaza Wires Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 29 September, 2023 |
| CLOSING DATE FOR IPO | 4 October, 2023 |
| IPO ALLOTMENT DATE | 9 October, 2023 |
| REFUNDS | 10 October, 2023 |
| DEMAT A/C CREDITED ON | 11 October, 2023 |
| IPO LISTING DATE | 12 October, 2023 |
Plaza Wires Limited IPO begins for subscription from 29 September 2023. The IPO subscription would continue till 4 October, 2023. The allotment status for the shareholders who applied would come on 9 October, 2023. The refunds for the ones who did not get allotment would be initiated on 10 October, 2023. The DEMAT accounts of shareholders would be credited on 11 October, 2023. The listing of the company would be completed on 12 October, 2023.
Plaza Wires Limited IPO : Lead Managers
The lead managers are :
- Pantomath Capital Advisors Private Limited
The minimum lot size for the company is decided at 277 shares. This holding accounts to 14958 Rs.. The maximum lot size is decided at 3601 shares. This amounts to 194454 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 277 shares | 14958 Rs. |
| Maximum | 3601 shares | 194454 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- The company wants to pay the outstanding through the IPO Money and also wants to expand through setting up of a new manufacturing facility.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 99 | 104 | 112 |
| Revenue | 145 | 176 | 182 |
| PAT | 4.2 | 5.9 | 7.5 |
Plaza Wires Limited had an asset base of 99 Crore Rs in 2021 which increased to 104 Crore Rs in 2022 and 112 Crore Rs in 2023. The revenue of the firm was 145 Crore Rs in 2021, 176 Crore Rs in 2022 and 182 Crore Rs in 2023. The profit of the firm was 4.2 Crore Rs in 2021, 5.9 Crore Rs in 2022 and 7.5 Crore Rs in 2023.
PROS
- The key products of the company are wires and cables. These include single and multi core round flexible industrial cables, house wires and industrial cables for submersible pumps and motors.
- Other products include LT Power control cables, telephone and switchboard industrial cables, TV Dish antenna coaxial cables, Computer and LAN networking cables, PVC insulated tape, close circuit television cables and solar cables, PVC conduit pipe and accessories etc.
- It has 1249 authorised dealers, 1 brand and godown in Maharashtra, 3 Branch offices in Rajasthan UP and Uttarakhand, 4 warehouses in Assam, UP, Delhi and Kerala and a C&F agent in Punjab.
CONS
- The company works in a highly competitive segment.
Plaza Wires Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Plaza Wires Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
