Plaza Wires IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Oct 06, 2023There are primarily two fundraising sources for a company – Equity and Debt. Companies decide the type of source of funds based on various essential factors like dilution, interest rates, term, cost, and other aspects.
By picking the equity mode, a company allots its equity shares to the public in exchange for money. This way, it raises the required sum for its objectives, and the share owner holds a portion of the company in the form of shares.
The company that is setting the space to floor its IPO in the market is Plaza Wires Limited. The entity is engaged in the production of cable wires of various kinds.
Plaza Wires IPO is entirely a Fresh Issue, and the company’s promoters or shareholders will not be selling their shares through the IPO. So, let’s study further about this IPO with our Plaza Wires IPO Review.
| Face Value | Rs 10 |
| Price Band | Rs 51 to Rs 54 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 277 Shares |
| Listing Date | October 13, 2023 |
| Offer for Sale | NA |
| Fresh Issue | Rs 71.28 Cr |
| IPO Size | Rs 71.28 Cr |
| Tick Size | 1 |
Plaza Wires IPO Overview
Plaza Wires IPO is an IPO consisting of a Fresh Issue for up to 1,64,52,000 equity shares. The company has filed the DRHP with SEBI to seek its approval for the IPO launch.
The promoters of the company or its existing shareholders are not looking to sell their stakes in the company.
As per the DRHP, the company might also consider a pre-IPO placement before filing the Red Herring Prospectus (RHP) with the Registrar of Companies (RoC).
If such pre-IPO placement is successful, the offered size of the IPO will be reduced to the extent of the pre-placement.
Plaza Wires IPO Important Dates
| Events | Date |
| IPO Opening Date | September 29, 2023 |
| IPO Closing Date | October 5, 2023 |
| Basis of Allotment Finalization | October 10, 2023 |
| Refunds Initiation | October 11, 2023 |
| Credit of Shares to Demat Account | October 12, 2023 |
| Share Listing Date | October 13, 2023 |
Plaza Wires Limited has filed the preliminary papers with the capital market regulator to seek approval. Once the IPO is approved and the entity obtains the observation letter, it will proceed further with the launch of the IPO.
Plaza Wires IPO Dates will be declared after the approval of the IPO. In between the IPO opening and IPO closing dates, the company will invite bids from the public for subscription.
Plaza Wires IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 51 to Rs 54 |
| Offer for Sale | NA |
| Fresh Issue | Rs 71.28 Cr |
| IPO Size | Rs 71.28 Cr |
Plaza Wires IPO Size consists of 1,64,52,000 equity shares to be offered through a fresh issue. The company will determine the Plaza Wires IPO Price through the book-building process in consultation with the Lead managers.
The face value of the offered shares is Rs. 10 each. The equity shares offered through the IPO are proposed to be listed on NSE and BSE.
Plaza Wires IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 6 Oct 2023 | Rs 23 | NA | NA |
| 5 Oct 2023 | Rs 23 | NA | NA |
| 4 Oct 2023 | Rs 23 | NA | NA |
| 3 Oct 2023 | Rs 15 | NA | NA |
| 2 Oct 2023 | Rs 15 | NA | NA |
| 28 Sep 2023 | Rs 10 | NA | NA |
| 27 Sep 2023 | Rs 10 | NA | NA |
Plaza Wires IPO GMP is updated up to now. The company is expecting the IPO approval soon, and after that, it will proceed to welcome bids from the investors and list the shares on the stock exchange.
Grey Market is also called a parallel market, and it is a marketplace for financial securities trading. Before the shares are publicly offered in an IPO, when they are traded, it is called Grey Market Stock.
Plaza Wires IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 29th Sep | 0.00x | 4.80x | 27.28x | 4.80x |
| 2nd Day – 3rd Oct | 0.42x | 53.26x | 119.85x | 28.04x |
| 3rd Day – 4th Oct | 5.79x | 132.99x | 225.37x | 62.83x |
| 4th Day – 5th Oct | 11.15x | 260.53x | 305.74x | 104.10x |
| Shares Offered or Net Issue | 6,196,076 | 1,980,023 | 1,320,015 | 13,200,158 |
Subscription is a crucial step in an IPO when the company accepts the application of the public to subscribe to the securities offered.
In a Book Built issue, the price of the shares is unknown, and the investors bid for the shares at various prices which are equal to or above the floor price. Plaza Wires IPO Subscription will possibly open around September 2022.
Plaza Wires IPO Allotment Status
The basis of Plaza Wires IPO Allotment has not been determined till now. The allotment will be determined after the company receives all the bids from the prospective shareholders.
The company will determine the price and thereafter credit the shares in the Demat accounts of the successful bidders.
Plaza Wires IPO Live Performance
Plaza Wires IPO Performance will be able for the readers with just a single click. You can access all the Plaza Wires IPO Price details and other specifications here.
Subscribe to Plaza Wires IPO – Open Free Demat Account Now!
Plaza Wires – Company Review
Plaza Wires was originally started as Navratna Wires Private Limited in 2006.
In the subsequent year, the name changed to Plaza General Cable Wire Private Limited, and thereafter in 2008, it again changed its name to ‘Plaza Wires Private Limited.’
Also, Plaza Wires converted its status from a private limited company to a public limited company in December 2021. Consequently, its name was changed from Plaza Wires Private Limited to Plaza Wires Limited.
Plaza Wires Limited is in the business of manufacturing, marketing, and selling wires, aluminum cables, and fast-moving electrical goods.
Products or Services
Established in 2006, Plaza Wires Limited is among the cable wire business leaders, especially in Northern India. The company’s products primarily include Plaza Cables, Action Cables, Plaza Fans, and Immersion Heater & Iron.
From Wires & Cables to Ceiling & Wall Fans, pedestals, tables & Exhaust fans, Plaza Wires is the solution.
The entity is dedicated to offering the best wires and cables for various needs, manufacture out of quality material and accessible to all types of consumers.
It offers its products under its signature brand “PLAZA CABLES,” “ACTION WIRES,” and “PCG.”
Promoters and Holding
The Promoters of Plaza Wires Limited are:
- Sanjay Gupta
- Sonia Gupta
The management of the company comprises:
- Sanjay Gupta, in the position of Chairman and Managing Director
- Sonia Gupta, in the position of Whole-time Director
- Aditya Gupta, in the position of Whole-time Director
- Abhishek Gupta, in the position of Whole-time Director
- Monam Kapoor, in the position of Independent Director
- Chetna, in the position of Independent Director
- Swati Jain, in the position of Independent Director
- Ish Sadana, in the position of Independent Director
- Ajay Batla, in the position of Chief Financial Officer
- Bhavika Kapil, in the position of Company Secretary and Compliance Officer
Is Plaza Wires good for Investment?
The tale of Plaza Cables ignites 35 years ago as R K Cable in an informal way and now has been shaped as a remarkable brand, PLAZA CABLES.
The company has come a long way, but its value and dedication to its customers have remained the same through the years.
The company strives to offer quality products at low prices to make them accessible to all its customers and work as a means to accelerate the business.
Plaza Cables has a wide product portfolio, including wires, cables, various fan types, and certain electronics. The company also introduced a low-cost segment of products under the brand “Action Wires” in 2021.
Plaza Wires Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 1,082.17 | 992.85 | 885.13 | 893.92 |
| Revenue | 1,267.83 | 1,455.95 | 1,593.40 | 1,582.08 |
| Expense | 1,186.49 | 1,395.00 | 1,538.72 | 1,498.37 |
| Profit After Tax | 57.44 | 43.72 | 40.04 | 70.22 |
The DRHP of Plaza Cables contains the company’s financial statement, and here we will take a closer look at it and analyze it for you.
In the last three financial years, the company’s total income has not fluctuated highly. It has neither risen very much nor has gone down. The profits though have fluctuated through some ups and downs.
In the year 2018-19, the company stroked a profit of 83.71 million, which came down in the subsequent year to 54.68 million. The positive aspect is that the entity has been growing in its profits ever since.
In the nine months of the financial year 2021-22, the company’s total income was 1,267.83 million, and the profit for the period stood at 81.34 million.
| Earnings per Equity Share (in Million) | ||||
| 31-Dec-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 1.88 | 1.43 | 1.31 | 2.30 |
The EPS of Plaza Cables has been revolving around Re. 1 for the past two years. As of December 2021, the EPS was Rs. 1.88.
Plaza Wires IPO Review
Plaza Cables IPO is entirely a Fresh Issue of 1,64,52,000 equity shares. The promoters or existing shareholders of the company are looking to offload their shares and make an exit from the company through the IPO.
The IPO objectives state that the proceeds will utilize to expand the company’s operations by setting up a new manufacturing unit to increase the manufacturing of fire-resistant wires & cables, house wires, solar cables, and aluminum cables.
The new manufacturing unit will enhance the scale of operations, and the company will be able to expand its product portfolio.
Prior to the IPO, the company might consider a pre-IPO placement of equity shares if such placement executes. The IPO size will reduce.
Plaza Wires IPO Details
Here are few more details you need to know before investing in Plaza Wires IPO –
Plaza Wires IPO Issue Object
- Funding the capital expenditure towards setting up of a new manufacturing unit for house wires, fireresistant wires & cables, aluminum cables and solar cables to expand our product portfolio;
- Funding the working capital requirements of our Company, and
- General corporate purposes.
Plaza Wires IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Product portfolio focused on various customer segments and markets
- Our distribution network
- Our management and dedicated employee base
Quantitative factors are:
| Basic EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 1.43 | 11.04 | 12.96 |
| 31-Mar-20 | 1.31 | 11.37 | – |
| Mar-19 | 2.30 | 22.50 | – |
Plaza Wires IPO Lead Managers
Here are the list of Lead managers –
- Pantomath Capital Advisors Private Limited
Plaza Wires IPO Registrar to offer
Check out the details of the registrar here –
Kfin Technologies Limited
Selenium Tower-B, Plot No.31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally, Hyderabad 500 032, Telangana
Tel: 40 6716 2222
Email: plazawires.ipo@kfintech.com
Investor Grievance Email: einward.ris@kfintech.com
Website: www.kfintech.com
Contact Person: M Murali Krishna
SEBI Registration Number: INR000000221
Plaza Wires IPO – Other Details
- Statutory Auditor – Shailendra Goel and Associates, Chartered Accountants
- Legal Counsel to the Company – Messrs. Kanga and Company
- Bankers to the Company – Punjab National Bank, Standard Chartered Bank
Plaza Wires IPO – Conclusion
Thus, Plaza Cables IPO is propose to bring a new manufacturing facility to increase the business of the Group. There is no Offer for Sale in the IPO, and therefore the company will receive the entire proceeds.
This company has shown decent growth in its financial statements and is growing gradually.
It is already a leading entity in the Northern region of India and is slowly creating a space on the larger canvas. As of now, everything related to the IPO is in favor and turns out as a prosperous chance for investors.
To Subscribe to Plaza Wires IPO – Open Demat Account Now!
Plaza Wires IPO Review FAQs
Check out the FAQs on Plaza Wires IPO –
What is the Issue Size of Plaza Wires IPO?
The Company is making an initial public offer of 13,200,158 equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Plaza Wires IPO?
The price band for this particular IPO ranges between Rs 51 to Rs 54. As far as the face value of the share is concerned, it is Rs.10 per share.
What is the Plaza Wires IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on September 29, 2023, while the closing date is set at October 5, 2023.
What is the Plaza Wires IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on October 10, 2023, refund initiation is on October 11, 2023, credit of shares is on October 12, 2023, and share listing date is on October 13, 2023.
What is the Plaza Wires IPO Listing Date?
Shares of this company shall be listed in the exchanges on October 13, 2023. The date, when the listing would be done, is stagnant on October 13, 2023.
Who is the Registrar of Plaza Wires IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Kfin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Plaza Wires IPO?
Here are the promoters of this IPO – SANJAY GUPTA AND SONIA GUPTA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Plaza Wires IPO?
They have obtained the GMP of this IPO and it is Rs 23. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Plaza Wires IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Plaza Wires Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 43.72, 2020 is 40.04, 2019 is 70.22. PAT from Dec 2021 is 57.44.
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