Plaza Wires IPO subscribed 62.55x on Day-3
It received bids for 59,39,88,274 shares against 94,96,114 shares on offer
Representational image.
New Delhi: The Initial Public Offering (IPO) of Plaza Wires was subscribed 62.55 times on the third day of subscription on Wednesday. The IPO received bids for 59,39,88,274 shares against 94,96,114 shares on offer, as per data available with the NSE. The category for Retail Individual Investors (RIIs) was subscribed 223.82 times, while the quota for non-institutional investors got subscribed 132.67 times.
The portion for Qualified Institutional Buyers (QIBs) received 5.79 times subscription. The offer is a fresh issue of up to 1,32,00,158 equity shares. The price range for the IPO is Rs 51-54 a share. The company is in the business of manufacturing, marketing and selling wires, aluminium cables and fast-moving electrical goods like electric fans and water heaters. Plaza Wires has raised Rs 20 crore from anchor investors. Pantomath Capital Advisors is the manager to the offer. The equity shares of the company are proposed to be listed on the BSE and NSE.
