Plaza Wires IPO Details
Issue Date
--
Price Range
₹54
Lot Size
277
IPO Size
₹71.28 Cr
Plaza Wires IPO Listing Details
Listing On
12 Oct'23
Issue Price
--
Listed Price
₹ 76
Retail Gain/Listing Gain
▲40.74%
Schedule of Plaza Wires IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
12/10/2023
Company Background
Plaza Wires Limited is in the business of manufacturing and selling wires, and selling and marketing LT aluminium cables and fast-moving electrical goods (FMEG) under its flagship brand “Plaza Cables” and home brands such as “Action Wires” and “PCG.”
The business commenced with a vision to create a niche in the domestic wire and cable industry with an approach to provide quantitative and qualitative products at competitive prices to customers, from various socio-economic backgrounds.
According to the Resurgent India Research Report, they are one of the growing manufacturers in the wires and cables industry in the northern region of India, and they provide an extensive range of wires and cables. Their product mix comprises different 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 & accessories. According to Resurgent India Limited, the wires and cables industry in India, in value terms, has grown at a CAGR of approximately 13.68% in the last five years, reaching Rs. 788.00 billion in Fiscal 2021. Resurgent India Limited expects the wires and cables industry in India to expand at a CAGR of approximately 14.50% in value terms, reaching approximately Rs. 1,550.00 billion by Fiscal 2026.
In fiscals 2023, 2022 and 2021, the company’s EBITDA was Rs. 156.99, Rs. 131.87 and Rs. 108.62 respectively (In Rupees million). Of which, the EBITDA percentage was 8.60%, 7.46% and 7.47% for the same fiscals.
With that, let's take a look at the competitive strengths and risk factors for Plaza Wires Limited:
Risk Factors
- The company’s success depends on building the proposed manufacturing unit and expanding its product portfolio.
- Inadequate or interrupted supply and price fluctuation of raw materials and packaging materials could adversely affect the business.
Key Strategies
- Set up the proposed manufacturing unit to widen the product portfolio and increase capacity.
- Strengthen the company’s brand value.
- Expand their dealer network in existing markets and enter new geographical markets.
Key Financials
Here are the key financials for Plaza Wires Limited
How to apply for IPO through ASBA
Kotak Securities
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