InvestorQ : Can you tell me about the forthcoming IPO of Plaza Wires?
Katherine Gonsalves made post

Can you tell me about the forthcoming IPO of Plaza Wires?

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rhea Babu answered.
3 weeks ago
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Plaza Wires has already filed its draft red herring prospectus (DRHP) with SEBI for the proposed IPO. The typical SEBI approval process takes 2 to 3 months so the regulatory approval should mostly come in by July or August 2022. Plaza Wires is based out of Delhi and it is engaged in manufacturing of wires, aluminium cables and fast-moving electrical goods (FMEG) products. This is a high growth segment within electrical goods.

The IPO of Plaza Wires will be a complete fresh issue of 164.52 lakh shares to the public and will not have any OFS component by the promoters or the early investors. Currently, Plaza Wires has a manufacturing facility at Baddi in the state of Himachal Pradesh having an installed capacity of 12 lakh standard coils per year (SCPY). The funds raised in the IPO will be used to add 8.37 lakh standard coils per year (SCPY) capacity.

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