Skip to content
  • English
  • Business
  • Entertainment
  • National
  • Lifestyle
  • Education
Daily News India

Daily News India

Just another WordPress site

  • English
  • Business
  • Entertainment
  • National
  • Lifestyle
  • Education
  • Toggle search form
  • Mind Wars’ Year-End Revelry: Charting New Heights in Edutainment Excellence Education
  • Indian Institute of Packaging (IIP) acknowledges the Indian Packaging fraternity with the INDIASTAR and PACMACHINE Awards Business
  • India’s leading Ayurvedic Panchakarma hospital in Hyderabad — Sai Ayush Ayurveda Hospital & Research Institute Health
  • Renowned Civil Contractor Jay Prakash Sah: Building a Stronger India Business
  • PKH Ventures Ltd launches Public Issue of up to Rs. 379.35 crores Business
  • Skill Nation Trains Over 1 Million in Job-Ready Skills and Business Marketing Domain Business
  • The Rise of Deepak Tiwari: A Casting Director’s Journey to Success Entertainment
  • Tesla Picks IPS Academy’s Himanshu Singh for Germany Job, Offers Lucrative ₹4 Crore Package Press Release

Plaza Wires Ltd plans Public Issue of up to Rs. 71.28 crore to fund its expansion plans

Posted on September 25, 2023 By

New Delhi [India], September 25: Plaza Wires Ltd, a company in the business of manufacturing, marketing and selling of wires, aluminium cables and fast-moving electrical goods, is planning to raise up to Rs. 71.28 crore from its public issue. Company has a fixed price band of Rs. 51-54 per equity share. The fresh issue of 1.32 crore equity shares will open for subscription on September 29 and close on October 4. Company plans to use issue proceeds towards capital expenditure for setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminium cables, and solar cables to expand the product portfolio, funding working capital requirements and general corporate purposes.

The company’s shares shall be listed in the BSE & NSE. Pantomath Capital Advisors Pvt Ltd is the Lead Manager to the public issue, and Kfin Technologies Ltd is the registrar.

Company has a manufacturing facility at Baddi with an installed production capacity of 12,00,000 coils of standard size per annum. Company proposed to utilize Rs. 24.4 crore from the IPO proceeds towards setting up a manufacturing facility to add 8,37,000 coils per annum and manufacture new products such as fire-proof/survival wires, LT aluminium cables and solar cables. Company plans to utilize Rs. 22 crores from the public issue for working capital requirements and the remaining for general corporate purposes.

Company has a fixed price band of Rs. 51-54 per equity share for the fresh issue of 1.32 crore equity shares of face value Rs. 10 each. The minimum lot size for the application is 277 shares and multiple thereof. Retail investor and HNI quota for the IPO is kept at not more than 10% and 15% of the issue, respectively, while QIB quota is kept at a not less than 75% of the issue.

Mr. Sanjay Gupta, Managing Director, Plaza Wires Ltd, said, “As a part of our growth strategy, our focus is on increasing revenue through achieving operational efficiency, consistently delivering quality products and enhancing goodwill in the market through product expansion and geographical outreach. We strongly believe that with the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality products.”

Incorporated in 2006, Plaza Wires Limited is engaged in the business of manufacturing, marketing and selling of wires, aluminium cables and fast-moving electrical goods (FMEG) under its flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”. Plaza Wires was originally incorporated as Navratna Wires. Its key products in the wires and cables segment include house wires, single & multicore round flexible industrial cables and industrial cables for submersible pumps & motors up to 1.1kv grade. The company also provides other wires and cable products such as LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer & LAN networking cables, close circuit television cables and solar cables, PVC insulated tape, and PVC conduit pipe etc.

As part of after-sales service for electric fans, the company has tied up with more than 20 service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana and Tamil Nadu. In 2021, Plaza Wires expanded its product portfolio by launching miniature circuit breakers and distribution boards (DB) in the north and south Indian regions. As of March 31, 2023, the company has over 1249 authorized dealers and distributors, 3 branch offices in Rajasthan, Uttarakhand, and Uttar Pradesh, 1 branch office cum godown at Maharashtra, 4 warehouses in Uttar Pradesh, Assam, Kerala and Delhi, and C&F agent in 1 state, viz. Punjab.

The financial performance of the company has exhibited considerable progress over the years, demonstrating growth and stability, for FY22-23 company reported revenue of Rs. 182.60 crore and a net Profit of Rs. 7.51 crore. As on March 2023, the Net worth of the company stands at Rs. 53.08 crore and Reserves and surplus at Rs. 22.53 crore.

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

Finance Tags:Finance

Post navigation

Previous Post: WeVysya Telangana Business Conclave 2023 Celebrates Unprecedented Success
Next Post: 21st Asian Business & Social Forum 2023 & The Healthier India Conclave 2023

Related Posts

  • Accosis Launches Free Accounting Automation Software for Businesses Finance
  • SAFE West India 2024 addresses India’s Growing Security Market, Projected to reach USD 7.36 Billion by 2029 Finance
  • Future Trends and Predictions in Gold Trading- Alex Volkov, Market Analyst at VT Markets Finance
  • Annapurna Finance Secures Dollar 109.5 Million Through Multilateral ECB Transaction Finance
  • Teerth Gopicon plans to raise up to Rs. 44.40 crore from public issue; IPO opens April 8 Finance
  • Polygon Evolves: From MATIC to POL, India’s Blockchain Goes Global Finance

Recent Posts

  • Indian Students Excel in SAT and TOEFL Olympiad 2025, Highlighting Growing Readiness for International Education
  • KLIP Launches as a ‘Snackable Netflix for Bharat’ for India’s Mobile-First Viewers
  • Meet top 10 Brands Transforming Industries and Setting New Benchmarks in 2026
  • Agrowise Launches Comprehensive Agriculture Consultancy to Strengthen Agri-Businesses and Promote Public Health
  • The Art of Sacred Living: Premium Teakwood Pooja Mandir Designs for Modern & Traditional Homes

Recent Comments

  • Unknown on Participants Reap Rewards in Wellman’s 8-Week Digital Campaign: IPL Tickets, Autographed Virat Kohli Merchandise, and More!
  • UPIA India Announces a Conference on Advances in Urogynecology 2023 (AIUG 2023 Sphincter Summit) Business
  • Jyoti Global Plast Limited to raise up to Rs. 35.44 crore from Public Issue; IPO opens on August 4 Business
  • PLI Scheme – A Game Changer for India’s Textile Sector Business
  • Dr Megha Nagpal a celebrity facial aesthetician par excellence Health
  • The importance of social media in doctors’ lives today: Insights from Dr. Garvit Chitkara Health
  • Unveiling Triumph with Mad About Marketing Business
  • AVG Logistics Secures Major Contract with Top Appliance Manufacturer, Leveraging Extensive Multi-Modal Connectivity Business
  • How This Company is on Track to become the #1 Content Creation Platform on YouTube. Business

Copyright © 2026 Daily News India.

Powered by PressBook News WordPress theme