Plaza Wires Limited’s Initial Public Offering to open on Friday, September 29, 2023, sets price band at ₹51 to ₹54 per Equity Share

• Price Band of ₹51 – ₹54 per equity share bearing face value of ₹10 each (“Equity Shares”)
• Bid/Offer Opening Date – Friday, September 29, 2023 and Bid/Offer Closing Date – Wednesday, October 4, 2023.
• Minimum Bid Lot is 277 Equity Shares and in multiples of 277 Equity Shares thereafter.
• The Floor Price is 5.1 times the face value of the Equity Share and the Cap Price is 5.4 times the face value of the Equity Share. 

Mumbai, September 26, 2023: Delhi-based Plaza Wires Limited is engaged in the business of manufacturing and selling of wires, and selling and marketing of LT aluminium cables and fast-moving electrical goods (“FMEG”), has fixed the price band at ₹51 to ₹54 per Equity Share for its maiden initial public offer.  The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, September 29, 2023, for subscription and close on Wednesday, October 4, 2023. Investors can bid for a minimum of 277 Equity Shares and in multiples of 277 Equity Shares thereafter. The Public Issue of face value of ₹10 per Equity Share is entirely a fresh issue of equity shares up to 1,32,00,158 with no offer for sale component.

The company’s product mix includes various types of wires and cables, as well as FMEG such as electric fans, water heaters, switches and switchgears, PVC insulated electrical tape, and PVC conduit pipe and accessories. In 2021, the company launched a line of house wire under the brand “Action Wires” for products in the low-cost range. According to a Resurgent India report quoted in its DRHP, it is one of the fastest growing manufacturers in the wires and cables industry in northern region in India, and provides extensive range of wires and cables, under its flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”.

Plaza wires business model engages dealer and distribution network via 1249 authorized representatives to sell and market the company’s products, including sales through C&F agents, securing government bids for supply to government projects, and direct sales to infrastructure projects.

It’s manufacturing facility in Baddi has an installed production capacity of 12,00,000 coils per annum. It has proposed to set up a manufacturing facility to add 8,37,000 coils per annum to manufacture new products such as fire proof/survival wires, LT aluminium cable and solar cables.

Pantomath Capital Advisors Private Limited is the sole book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

DISCLAIMER: PLAZAWIRES LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offer of its Equity Shares and has filed the RHP with RoC on September 22, 2023. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e., Pantomath Capital Advisors Private Limited at www.pantomathgroup.com, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section titled “Risk Factors” beginning on page 30 of the RHP. Potential investors should not rely on the DRHP for making any investment decision. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States, except pursuant to exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold only outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sale occur. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Applications may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.

DISCLAIMER: The Equity Shares face value of ` 10 each offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges. Our Company has received ‘inprinciple’ approvals from the BSE and the NSE for the listing of the Equity Shares pursuant to letters each dated July 26, 2022. For the purposes of the Issue, the Designated Stock Exchange shall be NSE. A signed copy of the Red Herring Prospectus and the Prospectus shall be filed with the RoC in accordance with Section 26(4) and 32 of the Companies Act, 2013. For details of the material contracts and documents available for inspection from the date of the Red Herring Prospectus until the Bid/ Issue Closing Date, see “Material Contracts and Documents for Inspection” on page 307 of the RHP.

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA(“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to pages 256 of the RHP for the full text of the disclaimer clause of SEBI.

DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the pages 258 of the RHP for the full text of the disclaimer clause of BSE.

DISCLAIMER CLAUSE OF NSE (the Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 259 of the RHP for the full text of the disclaimer clause of NSE.

For further details in relation to the Company, BRLM, Company Secretary and Compliance Officer of the Company, availability of application forms, and RHP, please refer to statutory advertisement published on 24 September 2023.

RHP: https://pantomath-web.s3.ap-south-1.amazonaws.com/Plaza-RHP-V8-220923-Final-with-RSF-Chapter.pdf