October 13, 2023
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Plaza Wires IPO GMP, Guidance, Subscription & listing @ Chanakyanipothi.com, India`s Oldest Investment & IPO website.
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Plaza Wires IPO Post Listing Review:
The scrip on 12th October 2023, got listed at Rs. 76, compared to its issue price of Rs. 54, giving return of 40.74% over the issue price. The listing is in line with the expectations of the grey market.
Plaza Wires IPO Guidance:
The company is engaged in the business of manufacturing and selling of wires and selling and marketing of LT aluminum cables and fastmoving electrical goods under its flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”. IPO size is too small and huge over subscription is expected. Valuation and offer price are attractive. Listing gains are also expected. Chances of allotment are thin. Apply
Plaza Wires IPO Grey market Updates
Premium: Rs.23
Kostak Rs. 250
Subject to Rs.1800 
HNI kostak 4800
HNI subject to 45000
Plaza Wires IPO Subscription Status
On 5 October 2023 @ 5.00 (Day 4)
Review: Strong subscription trend seen now.
QIB: 2178030 Shares 42.84 T
NII(10L+): 1088999 Shares 442.42 T
NII (<10L) 544501 Shares 360.92 T
NII (Total) 1633500 Shares 388.08 T
RII: 3811500 Shares 374.81 T
Total: 7623030 Shares 160.97 T
Plaza Wires IPO Promoters
Sanjay Gupta &
Sonia Gupta
Plaza Wires IPO Company Details
Plaza Wires is an ISO 9001:2015 and 14001:2015 certified company engaged in the business of manufacturing and selling of wires and selling and marketing of LT aluminum cables and fastmoving electrical goods under its flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”. It launched a line of house wire under the brand “Action Wires” for product at economical price range.
Its 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.
According to Resurgent India Limited, the wires and cables industry in India, in value terms, has grown at a CAGR” of approximately 13.68% in the last five years to reach Rs 788.00 billion in Fiscal 2021. Resurgent India Limited expects the wires and cables industry in India to expand at a CAGR of approximately 14.50% in value terms to reach approximately Rs 1550.00 billion by Fiscal 2026.
Its key products in the wires and cables segment are building wires also known as house wires, single & multicore round flexible industrial cables and industrial cables for submersible pumps & motors up to 1.1kv grade. For other wires and cable products such as LT power control cable, TV dish antenna co-axial cables, telephone & switch board industrial cable, computer & LAN networking cable, close circuit television cables and solar cables, PVC insulated tape and PVC conduit pipe & accessories, it enters into informal arrangements with third-party manufacturers who manufacture its products based on our requirements.
It has over 1108 authorized dealers and distributors pan India and C & F agents in 3 states,
viz. Punjab, Maharashtra and Kerala for the nine months period ended December 31, 2021. It supplies its products across various states, mainly in states of Delhi, Uttar Pradesh, Haryana, Kerala, Rajasthan, Uttarakhand, Himachal Pradesh and Punjab.Existing Manufacturing Unit is located at Baddi, Himachal Pradesh. It has installed production capacity of 12,00,000 coils per annum.
For more information about the company, click www.plazawires.in
Objects of the IPO
The Company proposes to utilize the Net Proceeds towards funding of
1. Funding the capital expenditure towards setting up of a new manufacturing unit for house wires, fire resistant wires & cables, aluminum cables and solar cables to expand its product portfolio.
2. Funding the working capital requirements of the Company.
| Plaza Wires IPO Details | |
| IPO opens on | 29 September ,2023 |
| IPO closes on | 4 October, 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 13200158 Sh /Rs 71.28 Cr |
| * Fresh Issue | 13200158 Sh/Rs.71.28 Cr |
| * Offer for Sale | – Shares/Rs -Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 51-54 |
| Employee offer | Rs. (?)Cr/(?) Shares |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 277 Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. |
| QIB (75 %) | 9900119 | 53.46 Cr |
| NII (15 %) | 1980023 | 10.69 Cr |
| RII (10 %) | 1320016 | 7.13 Cr |
| Employees | – | – |
| Total Shares | 13200158 | 71.28 |
| Retail portion will be oversubscribed by | (?) Forms | |
| How much Shares to Apply? | Rs. | |
| Min Retail Application | 277 Sh | 14958 |
| Max Retail Application | 3601 Sh | 194454 |
| Small HNI (Min) application | 3878Sh | 209412 |
| Small HNI (Max) application | 18282 Sh | 987228 |
| Big HNI Application | 18559 Sh | 1002186 |
| Plaza Wires IPO Tentative timetable | |
| IPO opens on | 29 Sept 2023 |
| IPO Closes on | 4 October 2023 |
| IPO Allotment on | 9 October 2023 |
| Unblocking of ASBA | 10 October 2023 |
| Credit of Shares | 11 October 2023 |
| Listing on | 12 October 2023 |
| Registered Office of Plaza Wires | |
| A-74 Okhla Industrial Area, Phase-2 New Delhi, South Delhi, 110020, India | |
| Plaza Wires IPO Lead Managers | |
| Pantomath Capital Advisors Private Limited | |
| Registrar to Plaza Wires IPO | |
| Kfin Technologies Pvt ltd |
| Kaynes Technology IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. | Rs. | Rs. | % | |
| 2020-21 | 146 | 4.24 | 1.39 | 10.75 |
| 2021-22 | 177 | 5.95 | 1.95 | 13.08 |
| 2022-23 | 183 | 7.51 | 2.46 | 14.16 |
| Book Value of the Share on | 31.03.23 | Rs.17.37 | ||
| Book Value of the Share | after the IPO | Rs.28.42 | ||
| Upper Offer Price | Rs.54 | |||
| Ratio Analysis | |
| Upper Price/last EPS | 21.95 |
| Upper Price/Book Value | 3.10 |
| Upper Price/BV after IPO | 1.90 |
Kaynes Technology Peer Comparison
| As on date of DRHP | Face | Total | PE |
| Value | Income | Ratio | |
| Rs. | Rs in Cr | of | |
| The IPO Company | 10 | 183 | 21.95 |
| Cord Cable Industries Financiers |
10 | 527 | 16.55 |
| Ultracab India | 2 | 108 | 24.18 |
| V-marc India | 10 | 250 | 25.55 |
| Dynamic Cables | 10 | 672 | 32.22 |
| Paramount communicatio……2 | 813 | 23.75 | |
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