Plaza Wires is into Consumer-FMEG - Wires and Cables and is looking raise funds through Fresh Issue
Plaza Wires IPO is a public offering of shares with fresh issue. Company is promoted by Sanjay Gupta and Sonia Gupta. The IPO will open on September 29 and will close on October 04. The price band is ₹51 to ₹54 per share and the lot size is 277 shares. The issue size is ₹71.28 crore. The shares are expected to be listed on NSE, BSE on October 13 (^). Some additional information that you may find useful are: Existing Manufacturing Unit is located at Baddi, Himachal Pradesh with installed production capacity of 12,00,000 coils per annum. Company propose to set-up plant with additional installed capacity of 8,37,000 coils per annum and 8700 km per annum. Company sells products through dealers network having 1108 dealers as on Dec'21. : (**) - based on higher price band (^) indicative datee
Promoters of the company are Sanjay Gupta and Sonia Gupta Currently promoters hold 100% stake in the company.
Quick Pointers
- Company aims to raise between Rs 67 to 71 crs through this IPO.
- The net proceeds of the issue will be utilized to 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 and 2) Funding the working capital requirements of around Rs. 21 cr
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 27-Sep-23.
- Price band for the IPO has been fixed at Rs 51 to 54 per share and bid lot are in multiple of 277 shares. The implied market cap post-issue at Rs 223 to 236 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on October 09 and share are expected to be listed on NSE, BSE on October 13.
- Company has direct peer competition in India'a FEMG market, In Listed space peers include Cords Cable Industries, Ultracab (India), V-Marc India, Dynamic Cables and Paramount Communications among others.
- Pantomath Capital Advisors has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.
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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.
Existing Manufacturing Unit is located at Baddi, Himachal Pradesh with installed production capacity of 12,00,000 coils per annum. Company propose to set-up plant with additional installed capacity of 8,37,000 coils per annum and 8700 km per annum. Company sells products through dealers network having 1108 dealers as on Dec'21.
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.
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Check Allotment Status of IPO
| Please check below or visit Pantomath Capital Advisors link at here to check allotment status of IPO |
Source: DRHP, RHP, Company, Company Website | Logo/Images published in the article may be copyright of respective companies.
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