FMEG - Wires and Cables Company Plaza Wires files DRHP with SEBI for the proposed IPO; Key Details here

Plaza Wires is into Consumer FMEG - Wires and Cables and is looking raise funds through Fresh Issue

Plaza Wires to raise Fresh Issue of Equity shares up to 16,452,000 and an Offer for Sale Equity shares aggregating up to Rs. crores IPO

Plaza Wires IPO: Plaza Wires Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue of up to 16,452,000 Equity Shares.. Pantomath Capital Advisors have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue of up to 16,452,000 Equity Sharesby Being a Fresh Issue hence, no selling shareholders...

Objects of the issue:
1) Funding the capital expenditure towards setting up of new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables and solar cables amounting to Rs. 21.62 cr, 2) Funding the working capital requirements of around Rs. 21 cr, and 3) General corporate purposes.

Promoters of Plaza Wires are Sanjay Gupta and Sonia Gupta and holds 100% stake in the company.

About Company:
Company established in 2006 is ISO 9001:2015 and 14001:2015 certified company engaged in the business of manufacturing and selling of wires, and selling and marketing of LT aluminium cables and FMEG under flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”. In 2021, launched a line of house wire under the brand “Action Wires” for product at economical price range. Product mix comprises different type of wires and cables, and FMEG such as electric fans, water heaters, switches and switchgears, PVC insulated electrical tape and PVC conduit pipe & accessories.

About Industry:
Global wires and Cables market was worth $235.1 billion in 2019, it was third largest segment within the electrical equipment market accounting for 18.2%. Global wires and Cables market is expected to reach worth $236.1 billion in 2024 growing at CAGR of 8.00%. The wires and cables industry in India, in value terms, has grown at a compound annual growth rate (“CAGR”) of approximately 13.68% in the last five years to reach ₹788 billion in Fiscal 2021. The C&W industry is expected to grow to ₹1,033bn in FY23. The wires and cables industry in India to expand at a CAGR of approximately 14.50% in value terms to reach approximately ₹1,550 billion by Fiscal 2026.

Source: SEBI, BSE, NSE, DRHP, Plaza Wires, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.