Plaza Wires Limited IPO

Incorporated in 2006, Plaza Wires Limited is engaged in the business of manufacturing and selling wires, and selling and marketing LT aluminium cables and fastmoving electrical goods (FMEG) under its flagship brand "PLAZA CABLES" and home brands such as "Action Wires" and "PCG".
Plaza Wires was originally incorporated as Navratna Wires. Its key products in the wires and cables segment include house wires, single & multicore round flexible industrial cables and industrial cables for submersible pumps & motors up to 1.1kv grade. The company also provides other wires and cable products such as LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer & LAN networking cables, close circuit television cables and solar cables, PVC insulated tape, and PVC conduit pipe & accessories, through third-party manufacturers.
As part of after-sales service for electric fans, the company has tied up with more than 20 service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana and Tamil Nadu. In 2021, Plaza Wires expanded its product portfolio by launching miniature circuit breakers and distribution boards (DB) in the north and south Indian regions.
As of March 31, 2023, the company has over 1249 authorized dealers and distributors, 3 branch offices in Rajasthan, Uttarakhand, and Uttar Pradesh, 1 branch office cum godown at Maharashtra, 4 warehouses in Uttar Pradesh, Assam, Kerala and Delhi, and C&F agent in 1 state, viz. Punjab.


Objects of the Issue (Plaza Wires IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  • 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.
  • General corporate purposes.

Issue Details

September 29, 2023

Issue Closes
October 4, 2023

Issue Price
₹51 to ₹54 per share

Minimum of 277 Equity shares & in multiple of 277 Equity shares thereafter.

October 9, 2023

IPO Ratio
QIB 75% - Retail 10% - NII 15%

IPO Size
₹71.28 Cr

Company Financials

Period Ended 31-Mar-21 31-Mar-22 31-Mar-23
Assets 99.28 104.17 112.1
Revenue 145.6 176.94 182.6
Profit After Tax 4.24 5.95 7.51
Net Worth 39.48 45.52 53.08
Reserves and Surplus 35.66 14.96 22.53
Total Borrowing 43.3 40.09 39.68

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