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Plaza Wires IPO

Plaza Wires IPO

  • Status: Closed
  • RHP:
  • ₹ 14,127 / 277 shares

    Minimum Investment

IPO Details

  • Open Date

    29 Sep 2023

  • Close Date

    05 Oct 2023

  • IPO Price Range

    ₹ 51 to ₹ 54

  • IPO Size

    ₹ 71.28 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    13 Oct 2023

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IPO Timeline

Plaza Wires IPO Subscription Status

Last Updated: 05 October 2023 8:22 PM by rahul_raskar

Plaza Wires Limited IPO is all set to open from 29th September to 4th October 2023. The company manufactures and sells wires as well as sells and markets LT aluminium cables and fast-moving electrical goods (FMEG). The IPO includes a fresh issue of 13,200,158 equity shares worth ₹71.28 cr. The share allotment date is 9th October, and the IPO will be listed on 12th October on the stock exchanges. The price band is ₹51 to ₹54 per share and the lot size is 277 shares.    

Pantomath Capital Advisors Private Limited is the book-running lead manager for this IPO, while KFin Technologies Limited is the registrar. 

Objectives of Plaza Wires IPO

●    To fund the capital expenditure for setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio.
●    For working capital requirements.
●    Fund general corporate purposes.
 

Plaza Wires IPO Video:

 

Established in 2006, Plaza Wires Limited manufactures and sells wires as well as sells and markets LT aluminium cables and fast-moving electrical goods (FMEG). The company sells these products under its flagship brand called "PLAZA CABLES" and home brands including "Action Wires" and "PCG". In 2021, Plaza Wires expanded its product range to include miniature circuit breakers and distribution boards (DB) in both the northern and southern regions of India. The company was originally known as Navratna Wires. 

Plaza Wires has a diverse range of wire and cable products, such as house wires, single and multicore round flexible industrial cables, and industrial cables designed for submersible pumps and motors up to a 1.1kv grade. 

In addition to these offerings, the company also supplies various other wire and cable products, including LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer % LAN networking cables, close circuit television cables and solar cables, PVC insulated tape, and PVC conduit pipe & accessories. These products are sourced through third-party manufacturers.

Plaza Wires has established a network of more than 20 service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana, and Tamil Nadu, as part of its after-sales service for electric fans. As of March 31, 2023, the company has a widespread presence with over 1249 authorized dealers and distributors. Plaza Wires also has 4 warehouses strategically located in Uttar Pradesh, Assam, Kerala, and Delhi, along with a dedicated C&F agent in Punjab.

Peer Comparison
●    Cords Cable Industries Limited
●    Ultracab (India) Limited
●    V-Marc India Limited
●    Dynamic Cables Limited
●    Paramount Communications Limited

For More Information:
Webstory on Plaza Wires IPO

 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) Dec 31, 2021 FY21 FY20
Revenue 126.69 145.37 159.14
EBITDA 11.82 11.07 10.84
PAT 5.74 4.37 4.00
Particulars (in Rs. Crores) Dec 31, 2021 FY21 FY20
Total Assets 108.21 99.28 88.51
Share Capital 3.82 3.82 3.82
Total Borrowings 62.85 59.68 53.30
Particulars (in Rs. Crores) Dec 31, 2021 FY21 FY20
Net cash generated from / (used in) operating activities 8.50 -2.43 1.65
Net cash from / (used in) investing activities -2.99 -0.78 -1.26
Net cash flow from / (used in) financing activities -5.51 3.22 -0.38
Net increase (decrease) in cash and cash equivalents -0.005 0.001 0.002

Strengths

1.    The company is ISO 9001:2015 and 14001:2015 certified for quality. 
2.    The company’s product portfolio is focused on various customer segments and markets.
3.    It has a large distribution network.
4.    Highly experienced management team and employee base.
5.    Planning to enhance its position in the Wires and Cables Industry.
 

Risks

1.    Inadequate or interrupted supply and price fluctuation of raw materials and packaging materials could adversely affect the business. 
2.    Higher working capital requirements.
3.    Operates in an intensely competitive and fragmented industry. 
4.    Dependent on the sale of Wires and Cables products for revenue generation. 
5.    Negative cash flows in the past. 
 

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FAQs

The minimum lot size of Plaza Wires IPO is 277 shares and the investment required is ₹14,127.

The price band of Plaza Wires IPO is ₹51 to ₹54.

Plaza Wires IPO is open from 29th September to 4th October 2023.
 

The size of Plaza Wires IPO is ₹71.28 cr, which includes a fresh issue of 13,200,158 equity shares. 

The share allotment date of Plaza Wires IPO is 9th of October 2023.

The Plaza Wires IPO will be listed on 12th of October 2023.

Pantomath Capital Advisors Private Limited is the book-running lead manager for Plaza Wires IPO.

Plaza Wires plans to utilize the raised capital from IPO to:

1.    To fund the capital expenditure for setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio.
2.    For working capital requirements.
3.    Fund general corporate purposes.
 

To apply for Plaza Wires IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Plaza Wires IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.