• Delhi-based Plaza Wires sets IPO price range at Rs 51-54 per share, aiming to raise Rs 71.30 crore for expansion.
• Funds will be used for constructing a new factory to produce various cables and wires, expanding the company’s product portfolio.
• Plaza Wires is known for its wires, aluminum cables, and FMEG products and plans to increase its production capacity with the IPO proceeds.

MUMBAI, SEPTEMBER 26, 2023 (GPN): Delhi-based Plaza Wires Limited engaged in the business of manufacturing and selling of wires, and selling and marketing of LT aluminium cables and fast-moving electrical goods (“FMEG”), is all set to launch it’s maiden public offer on Friday, September 29, 2023 for subscription and close on Wednesday, October 4, 2023. Investors can bid for a minimum of 277 Equity Shares and in multiples of 277 Equity Shares thereafter. The Public Issue of face value of Rs 10 per Equity Share is entirely a fresh issue of equity shares up to 1,32,00,158 with no offer for sale component.

The company’s product mix includes various types of wires and cables, as well as FMEG such as electric fans, water heaters, switches and switchgears, PVC insulated electrical tape, and PVC conduit pipe and accessories. In 2021, the company launched a line of house wire under the brand “Action Wires” for products in the low-cost range. According to a Resurgent India report quoted in its DRHP, it is one of the fastest growing manufacturers in the wires and cables industry in northern region in India, and provides extensive range of wires and cables, under its flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”.

Plaza wires business model engages dealer and distribution network via 1249 authorized representatives to sell and market the company’s products, including sales through C&F agents, securing government bids for supply to government projects, and direct sales to infrastructure projects.

It’s manufacturing facility in Baddi has an installed production capacity of 12,00,000 coils per annum. It has proposed to set up a manufacturing facility to add 8,37,000 coils per annum to manufacture new products such as fire proof/survival wires, LT aluminium cable and solar cables.

Pantomath Capital Advisors Private Limited is the sole book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.Ends

RHP: https://pantomath-web.s3.ap-south-1.amazonaws.com/Plaza-RHP-V8-220923-Final-with-RSF-Chapter.pdf