Vidya Wires’ Rs 300-cr IPO on Dec 3

New Delhi: Winding and conductivity products maker Vidya Wires on Friday fixed a price band of Rs 48-52 per share for its upcoming Rs 300-crore Initial Public Offering (IPO). At the upper end, the company will be valued at over Rs 1,100 crore.

The initial share-sale will open for subscription on December 3 and close on December 5, with anchor investors set to receive their allocation on December 2, the company announced. The IPO comprises a fresh issue of shares worth Rs 274 crore, along with an Offer For Sale (OFS) of 50.01 lakh shares valued at Rs 26 crore.

The company proposes to utilize the net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and for general corporate purposes.