About the company
Incorporated in 2006, Plaza Wires Limited is an ISO 9001:2015 and 14001:2015 certified company engaged in the business of manufacturing and selling wires, and selling and marketing of LT aluminum cables and fastmoving electrical goods (FMEG) under their flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”. They are one of the growing manufacturers in the wires and cables industry in the northern region of India.
In 2021, The company launched a line of house wire under the brand “Action Wires” for products at an economical price range. In 2021, they expanded their product portfolio by launching miniature circuit breakers and distribution boards (DB) in the north and south India region.
Their product mix comprises different types of wires and cables, and FMEG such as electric fans, water heaters, switches and switchgears, PVC insulated electrical tape, and PVC conduit pipe & accessories. Our key products in the wires and cables segment are building wires also known as house wires, single & multicore round flexible industrial cables, and industrial cables for submersible pumps & motors up to 1.1kv grade.
For 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, they enter into informal arrangements with third-party manufacturers who manufacture their products based on the requirements.
As part of after-sales service for electric fans, They have tie-ups with 20+ service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana, and Tamil Nadu.
Their existing Manufacturing Unit is located at Baddi, Himachal Pradesh. Currently, they have a production capacity of 12,00,000 coils per annum. They are now proposing to set up the Manufacturing Unit with an additional installed capacity of 8,37,000 coils per annum and 8700 km per annum.
About the Industry:
According to Resurgent India Limited, the wires and cables industry in India, in value terms, has grown at a CAGR of approximately 13.68% in the last five years to reach ₹788.00 billion in Fiscal 2021. It expects the wires and cables industry in India to expand at a CAGR of approximately 14.50% in value terms to reach approximately ₹1550.00 billion by Fiscal 2026.
Issue size:
The entire Rs. 71.28 crore public offer of Plaza Wires Limited comprises of fresh equity issue.
Objects of the issue and proceeds utilization:
| Purpose | Proceeds (₹ crores) |
|---|---|
| Funding the capital expenditure towards setting up of proposed manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand their product portfolio | 24.41 |
| Funding the working capital requirements | 22 |
| General corporate purposes | Balance |
Financial information and other valuation metrics
| Financial Year | Total Assets (₹ crores) | Total Revenue (₹ crores) | Profit After Tax (₹ crores) | EPS | EBITDA (₹ crores) |
|---|---|---|---|---|---|
| March 31, 2021 | 99.28 | 145.60 | 4.24 | 1.39 | 10.86 |
| March 31, 2022 | 104.17 | 176.94 | 5.95 | 1.95 | 13.2 |
| March 31, 2023 | 112.1 | 182.60 | 7.51 | 2.46 | 15.7 |
IPO Schedule
| Issue Period | 29th September to 4th October 2023 |
|---|---|
| Price band | ₹ 51 - 54 |
| Minimum Bid quantity | 277 & Multiples thereof |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | 9th October 2023 |
| Initiation of Refunds | 10th October 2023 |
| Credit of Shares | 11th October 2023 |
| Date of Listing | 12th October 2023 |
| Mandate end date | 19th October 2023 |
| Anchor Investors Lock-In End Date | 3rd November 2023 |
How to apply to the Plaza Wires Limited IPO?
You can apply for the Plaza Wires Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for Plaza Wires Limited IPO?
You can check the allotment status for the Plaza Wires Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.