The company intends to secure Rs 80 crore through a pre-IPO placement round.
The IPO, featuring shares with a face value of Rs 10, exclusively comprises a fresh issue of equity shares, targeting proceeds of up to Rs 1,800 crore.
The company plans to utilize the proceeds from the fresh issue, amounting to Rs 240 crore, for debt repayment, with an additional Rs 10 crore allocated for the purchase of electric vehicles.
The IPO comprises a fresh issue of Rs 450 crore and an offer-for-sale of up to 24.12 lakh shares by existing shareholders and promoters.
The company has fixed the price band at Rs 133 to Rs 140 per equity share
Plaza Wires is offering its shares at a price range of Rs 51-54 per share.
The price band for the offer, which closes on October 3, is Rs 133-140 per share.
The IPO was subscribed approximately 1.7 times, with the issue price set at Rs 142.
Plaza Wires is set to initiate its initial public offering today, featuring a price range of Rs 51-54 per share.
Plaza Wires, headquartered in Delhi, has announced its IPO pricing strategy, with a price band set at Rs 51-54 per share.