Plaza Wires IPO: Allotment, GMP, And Listing Update

The Plaza Wires IPO has garnered significant attention in the market, with its grey market premium (GMP) doubling after strong bidding. The stock is commanding a GMP of Rs 23-25 apiece, indicating potential prospects of a 43-50% listing surge.
The basis allotment for Plaza Wires' IPO, which recently concluded with an overwhelming response, is set to be finalized soon. The Delhi-based cable wire and FMEG manufacturer witnessed an impressive subscription rate of 160.97 times, attracting investors' interest. The company has opted for a T+6 listing format.

During the IPO, Plaza Wires offered its shares in a price band of Rs 51-54 per share, with a lot size of 277 equity shares. The IPO subscription window was open from September 29 to October 5, successfully raising over Rs 71 crore by selling a total of 13,200,158 fresh equity shares.

The subscription details reflect a remarkable response from various investor segments. The portion for qualified institutional bidders (QIBs) was oversubscribed by 42.84 times, while non-institutional investors displayed a robust bidding response at 388.09 times. Retail investors also showed significant interest, subscribing 374.81 times during the four-day bidding process.

Plaza Wires, engaged in the manufacturing of wires and cables, is known for selling LT aluminium cables and fast-moving electrical goods (FMEG). The company boasts a widespread network of authorized dealers and distributors, with branch offices in multiple states and warehouses strategically located across the country.

Opinions from brokerage firms about the Plaza Wires IPO vary. Some recommend subscribing, citing the company's strong product portfolio, extensive distribution network, and experienced management. However, some suggest being careful because of the unpredictable changes in raw material costs and the intense competition in the industry.

The IPO was managed by Pantomath Capital Advisors, with KFin Technologies India serving as the registrar. The eagerly awaited listing of Plaza Wires shares is anticipated to occur on October 12, with both BSE and NSE being the listing platforms.

For investors seeking the allotment status, the BSE website provides a simple process:

Choose equity under the issue type.
Select Plaza Wires Limited from the drop-down menu.
Enter the application number and PAN card number.
Complete the 'I am not a Robot' verification before hitting submit.

Additionally, the allotment status can be checked on the KFin Technologies online portal using the Plaza Wires IPO option from the drop-down menu. Investors need to provide application number, Demat Account number, or PAN ID details and complete the captcha accurately before submitting.

Disclaimer: This information from YouBlog.live is for informational purposes only and should not be considered investment advice. It's highly suggested to consult with financial experts before making any investment decisions.