Plaza Wires’ IPO is scheduled to launch on September 29th and will run until October 4th. The company aims to raise approximately ₹71.28 crores through this IPO, which includes a fresh issue of ₹71.28 crores and an offer for sale of up to 13,200,158 equity shares with a face value of ₹10 each. The allocation for retail investors is 10%, while Qualified Institutional Buyers (QIBs) will be allotted 75%, and High Net Worth Individuals (HNIs) will receive 15% of the shares.
About Plaza Wires
Plaza Wires holds a prominent position in the cable wire industry, particularly in Northern India. Their product range includes Plaza Cables, Action Cables, Plaza Fans, Immersion Heaters, and Irons. They offer a diverse portfolio, covering everything from wires and cables to ceiling and wall fans, pedestals, tables, and exhaust fans. The company is committed to providing high-quality wires and cables made from premium materials, catering to a wide range of consumers. These products are branded under their well-known names, “PLAZA CABLES,” “ACTION WIRES,” and “PCG.”
Starting in 2016, Plaza Wires established partnerships with third-party manufacturers, leading to the introduction of Fast-Moving Electrical Goods (FMEG) like electric fans and water heaters. For electric fan after-sales service, they have collaborated with over 20 service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana, and Tamil Nadu. In 2021, Plaza Wires expanded its product line by introducing miniature circuit breakers and distribution boards (DB) in both the northern and southern regions of India.
Plaza Wires IPO Details
IPO Details
Values
IPO Dates
September 29th to October 4th, 2023
IPO Price Range
INR 51 to INR 54 per share
Fresh Issue
13,200,158 shares, INR 67.32 to 71.28 crore
Offer For Sale
Not applicable
Total IPO Size
1,64,52,000 shares, INR 67.32 to 71.28 crore
Minimum Bid (Lot Size)
277 shares, INR 14,958
Face Value
INR 10 per share
Retail Allocation
35%
Listing On
NSE (National Stock Exchange) and BSE (Bombay Stock Exchange
Profit & Loss (Figures in Crores, Adjusted EPS in Rs.)
Particulars
MAR 2019
MAR 2020
MAR 2021
MAR 2022
Net Sales
157.74
159.14
145.38
176.77
Total Expenditure
144.63
148.51
134.52
163.59
Operating Profit
13.11
10.64
10.86
13.19
Other Income
0.47
0.20
0.22
0.16
Interest
3.79
4.07
3.74
3.56
Depreciation
1.42
1.30
1.24
1.29
Exceptional Items
0
0
0
0
Profit Before Tax
8.37
5.47
6.10
8.51
Tax
1.35
1.46
1.72
2.47
Net Profit
6.89
4
4.40
6.12
Adjusted EPS (Rs.)
2.30
1.31
1.43
1.98
Balance Sheet (Figures in Crores)
Particulars
MAR 2019
MAR 2020
MAR 2021
MAR 2022
Equity and Liabilities
Share Capital
3.82
3.82
3.82
30.55
Total Reserves
27.39
31.39
35.79
15.18
Borrowings
6.30
4.96
8.76
5.23
Other N/C liabilities
0.62
0.97
1.43
1.79
Current liabilities
50.17
46.82
49.49
51.51
Total Liabilities
88.29
87.96
99.29
104.25
Assets
Net Block
19.89
20.23
20
23.14
Capital WIP
0
0
0
0
Intangible WIP
0
0
0
0
Investments
0
0
0
0
Loans & Advances
0.34
0.35
0.27
0.30
Other N/C Assets
0
0
0
0
Current Assets
68.06
67.38
79.01
80.81
Total Assets
88.29
87.96
99.29
104.25
Plaza Wires IPO Market Lot
Application
Lot Size
Shares
Amount
Retail Minimum
1
277
₹14,958
Retail Maximum
13
3601
₹194,454
S-HNI Minimum
14
3878
₹209,412
S-HNI Maximum
66
18,282
₹987,228
B-HNI Minimum
67
18,559
₹1,002,186
Plaza Wires IPO Dates & Listing Performance
Plaza Wires IPO Opening Date
29 September 2023
Plaza Wires IPO Closing Date
4 October 2023
Finalisation of Basis of Allotment
9 October 2023
Initiation of refunds
10 October 2023
Transfer of shares to demat accounts
11 October 2023
Plaza Wires IPO Listing Date
12 October 2023
Peer Group:
Company
Cords Cable Industries Ltd
Ultracab (India) Ltd
V-Marc India Limited
Dynamic Cables Limited
Paramount Communications Limited
Company Promoters:
Promoters
Mr. Sanjay Gupta
Mrs. Sonia Gupta
Objects of the Issue:
Object
Funding the capital expenditure towards setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio.
Funding the working capital requirements of the company.
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