Plaza Wires IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Plaza Wires Limited IPO GMP

Plaza Wires IPO, raising Rs 71.28 crores, consisted solely of a fresh issue of 1.32 crore shares. The bidding period for Plaza Wires IPO spanned from September 29, 2023, to October 5, 2023, with allotment finalized on Monday, October 9, 2023.

Following this, the shares debuted on both BSE and NSE on October 12, 2023. The IPO price band was set at ₹51 to ₹54 per share, with a minimum lot size for application comprising 277 shares. Retail investors were required to invest a minimum of ₹14,958. Additionally, for sNII, the minimum lot size investment equated to 14 lots (3,878 shares), amounting to ₹209,412, while for bNII, it was 67 lots (18,559 shares), totaling ₹1,002,186.

Pantomath Capital Advisors Pvt Ltd served as the book running lead manager for the Plaza Wires IPO, with Kfin Technologies Limited acting as the registrar for the issue.

OBJECTIVE OF IPO

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 our product portfolio.

2. Funding the working capital requirements of our Company.

3. General corporate purposes.

Additionally, company believes that listing of equity share of the company in the stock exchange will increase the brand image and corporate value of the company.