The allotment process for the Plaza Wires IPO was completed on Tuesday, October 10. To determine the number of shares allocated to them, investors can refer to the basis of allotment. The refund process commenced today, Wednesday, October 11, for individuals who were not granted any shares.
The listing date for the Plaza Wires IPO has been set for Thursday, October 12, on both NSE and BSE.
The Plaza Wires IPO was open for subscription from Friday, September 29, until Thursday, October 5. Investors displayed significant interest in the Plaza Wires IPO throughout these four days. The company had established a price range of ₹51 to ₹54 per equity share for the proposed initial public offer. Bids could be made for a minimum of 277 equity shares, with subsequent multiples of 277 equity shares.
On the final day of bidding, the public issue received an oversubscription rate of 160.97 times, while the retail portion witnessed an overwhelming response, being oversubscribed 374.81 times.
Plaza Wires IPO Grey Market Premium (GMP) today stands at +23, maintaining consistency with the previous eight sessions. This reflects that Plaza Wires shares are trading at a premium of ₹23 in the grey market as of Wednesday, according to investorgain.com.
Considering the higher end of the IPO price range and the current premium in the grey market, Plaza Wires’ estimated listing price is projected at ₹77 per share. This represents a 42.59% increase over the IPO price of ₹54.
In the last 18 sessions of grey market activities, today’s IPO GMP is on an upward trend, suggesting a strong listing. The GMP ranges from a low of ₹0 to a high of ₹24.
The ‘grey market premium’ indicates the willingness of investors to pay a price higher than the issue price.
Plaza Wires IPO specifics: The Plaza Wires IPO, valued at ₹71.28 crores, solely consists of a fresh issue of 13,200,158 equity shares, with no offer for sale (OFS) component.
The company intends to utilize the net proceeds from the offering for various purposes, including funding capital expenses for a new manufacturing facility dedicated to producing house wires
