Plaza Wires Limited’s shares made a strong entry on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) by debuting at ₹80. On the NSE, Plaza Wires’ shares were listed at ₹80.23 per share, representing an impressive 48.5% increase from the issue price of ₹54. The BSE also saw Plaza Wires’ shares opening at ₹80.2 per share.
An official announcement from the BSE confirmed the listing of Plaza Wires Limited’s equity shares, which became available for trading in the ‘T’ Group of Securities on Thursday.
The listing process began with a special pre-open session on both the BSE and NSE, followed by the commencement of regular trading in Plaza Wires shares at 10:00 am. The stock will remain in the Trade-for-Trade segment for the next 10 trading days.
Plaza Wires IPO Details The Plaza Wires IPO, valued at ₹71.28 crores, consisted exclusively of a fresh issue of 13,200,158 equity shares, with no offer for sale (OFS) component.
The company has outlined its plans for utilizing the net proceeds from the offering, which include funding capital expenses for a new manufacturing facility. Additionally, the funds will be allocated to meet the company’s working capital requirements and for general corporate purposes.
Plaza Wires IPO Subscription Highlights The subscription window for the Plaza Wires IPO was open from September 29 to October 5. The price band for the proposed initial public offer was set at ₹51 to ₹54 per equity share. Investors submitted bids for a minimum of 277 equity shares, with subsequent bids in multiples of 277 equity shares.
The IPO garnered strong investor interest, with oversubscription levels of 4.73 times on the first day, surging to 27.90 times on the second day, and a remarkable 62.75 times on the third day.
