In this article you get to know insight about Plaza Wires Limited IPO Details. Incorporated in 2006, Plaza Wires Limited has emerged as a dynamic player in the wire manufacturing and distribution industry. With a strong presence in the market, the company specializes in manufacturing and selling wires, LT aluminum cables, and a diverse range of fast-moving electrical goods (FMEG). Plaza Wires has gained recognition for its flagship brand, “PLAZA CABLES,” and its home brands like “Action Wires” and “PCG.”
Product Portfolio: Plaza Wires Limited offers a comprehensive range of wire and cable products catering to various needs:
House Wires: These wires are designed to ensure safe and reliable electrical connections within homes and buildings.
Single & Multicore Round Flexible Industrial Cables: Ideal for industrial applications, these cables provide flexibility and durability.
Industrial Cables for Submersible Pumps & Motors (Up to 1.1kv Grade): Plaza Wires caters to the specific requirements of submersible pumps and motors with high-grade industrial cables.
LT Power Control Cables: These cables play a crucial role in power distribution and control systems.
TV Dish Antenna Co-axial Cables: Ensuring seamless connectivity for television reception.
Telephone & Switchboard Industrial Cables: Essential for communication systems in industrial settings.
Computer & LAN Networking Cables: Reliable solutions for data connectivity and networking.
Future Prospects
Plaza Wires Limited is poised for a promising future. The company’s commitment to staying at the forefront of technological advancements in the electrical industry ensures that it will continue to deliver cutting-edge solutions to its customers. Here are some of the key factors that will likely contribute to its ongoing success:
Innovation: Plaza Wires understands the importance of innovation in a rapidly evolving industry. By investing in research and development, the company can create products that meet the changing needs of consumers and adhere to the highest quality standards.
Market Expansion: The successful launch of miniature circuit breakers and distribution boards in northern and southern India is indicative of Plaza Wires’ expansion strategy. The company may explore new markets and product categories to further diversify its offerings.
Customer-Centric Approach: Plaza Wires’ after-sales service network, with more than 20 service centers, exemplifies its commitment to customer satisfaction. Continuously enhancing this support system can solidify its reputation as a customer-centric brand.
Sustainability: In an era of increasing environmental awareness, Plaza Wires may consider eco-friendly initiatives and products that align with sustainable practices, appealing to environmentally conscious consumers.
Digital Presence: In an increasingly digital world, a robust online presence can boost brand visibility and accessibility. Plaza Wires may focus on enhancing its digital platforms to reach a wider audience.
Regulatory Compliance: Staying updated with regulatory requirements and ensuring product compliance will remain crucial. Adherence to safety and quality standards will be vital for sustained growth.
As Plaza Wires Limited continues to evolve and adapt to industry trends and consumer preferences, it is well-positioned to maintain its leadership in the electrical solutions sector. With a strong foundation built on quality, service, and innovation, the company is ready to embrace the opportunities that lie ahead.
Objects of the Issue
Plaza Wires Limited, in its upcoming Initial Public Offering (IPO), intends to utilize the proceeds from the issuance for several strategic purposes, aligning with its growth and expansion plans.
Setting Up a New Manufacturing Unit: A significant portion of the funds will be allocated to finance the establishment of a state-of-the-art manufacturing unit. This facility will focus on the production of essential electrical components, including house wires, fire-resistant wires & cables, aluminum cables, and solar cables. By expanding the product portfolio to encompass these critical segments, Plaza Wires aims to meet the evolving needs of its customers and capture new market opportunities. This investment underscores the company’s commitment to innovation and product diversification.
Working Capital Requirements: Another key allocation of funds will be directed towards fulfilling the working capital needs of the company. Working capital is essential for the day-to-day operations of any business, including covering operational expenses, managing inventory, and ensuring seamless production processes. By securing adequate working capital through the IPO, Plaza Wires can maintain operational efficiency and support its growth trajectory without disruptions.
General Corporate Purposes: A portion of the IPO funds will be earmarked for general corporate purposes. This category provides flexibility for the company to utilize the capital for various corporate needs, which may include expanding into new markets, investing in research and development, enhancing marketing efforts, exploring strategic partnerships, and meeting any unforeseen financial requirements. This allocation empowers Plaza Wires to respond effectively to evolving market dynamics and seize opportunities for sustainable growth.
Plaza Wires Limited IPO Details
| IPO Date | September 29, 2023 to October 4, 2023 |
| Face Value | ₹10 per share |
| Price | ₹51 to ₹54 per share |
| Lot Size | 277 Shares |
| Total Issue Size | 13,200,158 shares (aggregating up to ₹71.28 Cr) |
| Fresh Issue | 13,200,158 shares (aggregating up to ₹71.28 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing | BSE, NSE |
| Share holding pre issue | 30,551,920 |
| Share holding post issue | 43,752,078 |
Plaza Wires Limited IPO Reservation
Qualified Institutional Buyers (QIBs): QIBs are allocated a substantial portion of the offering, comprising not less than 75.00% of the net offer. This allocation caters to institutional investors, including mutual funds, insurance companies, and other financial institutions, who typically participate in IPOs with larger investment amounts.
Non-Institutional Investors (NIIs) – High Net Worth Individuals (HNIs): NIIs, which often include High Net Worth Individuals (HNIs), are offered a portion of not more than 15.00% of the overall offering. This category is reserved for investors who may not be institutions but are capable of making significant investments in the IPO.
Retail Investors: Retail investors, often individual investors and small-scale participants in the market, are provided an allocation of not more than 10.00% of the total offering. This ensures that a portion of the IPO is accessible to everyday investors looking to participate in the Plaza Wires Limited IPO.
The allocation structure is designed to ensure a balanced distribution of shares among different categories of investors, catering to the varying investment capacities and preferences of institutional and retail participants. It aims to provide opportunities for a wide range of investors to participate in the IPO, contributing to a more inclusive and diversified shareholder base for Plaza Wires Limited.
Plaza Wires Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 277 | ₹14,958 |
| Retail (Max) | 13 | 3601 | ₹194,454 |
| HNI (Min)
S-HNI (Max) B-HNI (Min)
|
14
66 67
|
3,878
18,282 18,559
|
₹209,412
₹987,228 ₹1,002,186
|
Plaza Wires Limited IPO Promoter Holding
Mr. Sanjay Gupta and Mrs. Sonia Gupta are the company’s promoters.
Share Holding Pre-Issue (Before the IPO): Prior to the IPO, the promoters, Mr. Sanjay Gupta and Mrs. Sonia Gupta, collectively held 100% of the company’s shares. This indicated that they had complete control and ownership of the company.
Share Holding Post-Issue (After the IPO): Following the IPO, the promoters’ collective shareholding in the company will reduce to 69.83%. This signifies that, after going public and issuing shares to external investors, the promoters will still retain ownership of a significant portion of the company, but they will no longer possess 100% of the shares. The remaining shares have been allocated to external investors as part of the IPO process.
Plaza Wires Limited IPO Tentative Dates
| IPO Open Date | Friday, September 29, 2023 |
| IPO Close Date | Wednesday, October 4, 2023 |
| Basis of Allotment | Monday, October 9, 2023 |
| Initiation of Refunds | Tuesday, October 10, 2023 |
| Credit of Shares to Demat | Wednesday, October 11, 2023 |
| Listing Date | Thursday, October 12, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 4, 2023 |
Plaza Wires Limited IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: plazawires.ipo@kfintech.com
Website: https://kosmic.kfintech.com
FAQ
What is Plaza Wires IPO?
Plaza Wires IPO is a main-board IPO of 13,200,158 equity shares of the face value of ₹10 aggregating up to ₹71.28 Crores. The issue is priced at ₹51 to ₹54 per share. The minimum order quantity is 277 Shares. The IPO opens on September 29, 2023, and closes on October 4, 2023.
How to apply in Plaza Wires IPO through Zerodha?
Zerodha customers can apply online in Plaza Wires IPO using UPI as a payment gateway. Zerodha customers can apply in Plaza Wires IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Plaza Wires IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Plaza Wires IPO’ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
When Plaza Wires IPO will open?
The Plaza Wires IPO opens on September 29, 2023 and closes on October 4, 2023.
What is the lot size of Plaza Wires IPO?
Plaza Wires IPO lot size is 277 Shares, and the minimum amount required is ₹14,958.
How to apply for Plaza Wires IPO?
You can apply in Plaza Wires IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services.
When is Plaza Wires IPO allotment?
The finalization of Basis of Allotment for Plaza Wires IPO will be done on Monday, October 9, 2023, and the allotted shares will be credited to your demat account by Wednesday, October 11, 2023.
When is Plaza Wires IPO listing date?
The tentative date of Plaza Wires IPO listing is Thursday, October 12, 2023.