Plaza Wires Limited

About Plaza Wires Limited IPO  Incorporated in 2006, Plaza Wires Limited manufactures wires, LT aluminium cables and Fast Moving Electrical Goods (FMEG). Company operates through its flagship brand ‘Plaza Cables’, ‘Action Wires’ and ‘PCG’. Over the years, the company has diversified its product offerings comprising different types of wires and cables, electric fans, water heaters, switches and switchgears, PVC insulated electrical tape, and PVC conduit pipe & accessories.  Company has its manufacturing unit in Himachal Pradesh, with an installed production capacity of 12 lakh coils per annum. Meanwhile, some of its products are manufactured by third-party manufacturers and evaluated by the company to comply with the quality standards of the Bureau of Indian Standards (BIS) and the QCL Certification.  These products are sold via various distribution channels depending on the geography, including through distributors, by securing government tenders and direct sales to infrastructure projects. As of 31 March 2023, it has over 1,249 authorised dealers and distributors along with customers from 31 states and union territories in India.  Between FY21 and FY23, the company saw a CAGR rise of 7% in its revenue from operations and 21% in its profit. It also maintained an EBITDA margin between 7% to 8% during the same period. Moreover, India’s wires and cables industry is expected to grow at a CAGR of 14% by FY26, which could benefit the company.  And now, Plaza Wires Limited is coming out with its initial public offer (IPO). The entire IPO is a fresh issue and money will be utilised to set up a new manufacturing unit, fund working capital requirements and for general corporate purposes. Its shares will be listed on the NSE and the BSE.  Here are key details about the Plaza Wires IPO:     Company Name  Plaza Wires Limited   Company Type  Private    Company Established On  2006   Plaza Wires Limited IPO Opening Date  29th September, 2023    Plaza Wires Limited IPO Closing Date  5th October 2023   Plaza Wires Limited IPO Allotment Status  9th October 2023    Credit of Shares to the Demat Account  11th October 2023   Plaza Wires Limited IPO Listing Date  12th October 2023    Plaza Wires Limited IPO Face Value  ₹ 10 per share   Plaza Wires Limited IPO Lot Size  277 shares    Plaza Wires Limited IPO Issue Size  Approx ₹71 crore   Plaza Wires Limited IPO to be Listed on  BSE, NSE    Plaza Wires Limited IPO Price band  ₹51 – ₹ 54per share        Financial snapshot     Particulars  FY 21  FY 22  FY 23    Revenue  ₹ 145 crore  ₹ 176 crore  ₹ 182 crore    Net Profit  ₹ 4.2 crore  ₹ 5.9 crore  ₹ 7.5 crore               A quick look at Plaza Wires Limited IPO’s strengths, risks and threats  Strengths   A diverse product portfolio with plans to set up a new facility to manufacture fireproof/ survival wires, LT aluminium cables and solar cables in addition to its existing products.  The wires and cables business contributed over 94% of total revenue from operations in FY23.  Company looks to expand its market share by targeting sectors like mining, oil and gas, shipping, power and others by offering new products for these sectors.  Affordable housing schemes, rise in commercial and residential infrastructure are helping drive demand for wires and cables.  Large distribution network with offices and warehouses in Rajasthan, Uttarakhand, Uttar Pradesh, Maharashtra, Assam, Kerala and Delhi as of 31 March 2023.   Risks and threats   Risk of inadequate or interrupted supply and price fluctuation of raw materials as it cost around 77%, 78% and 73% of revenue from operations in FY21, FY22 and FY23 respectively.  Operates in a labour and capital-intensive industry.  Operates in a fragmented industry that is moving from unorganised to organised players and faces competition from large players.            Plaza Wires Limited IPO details  | VPlaza Wires Limited IPO date  According to the offer document filed by the company with the SEBI, the Plaza Wires IPO’s opening date – in other words, the Plaza Wires IPO launch date – will be 29th September 2023. The Plaza Wires IPO closing date is 4th October 2023. After this, investors will be updated about the allotment status on 9th October 2023.  Investors, who have been allotted shares, can expect them to be credited to their demat account on 11th October 2023. The Plaza Wires IPO listing date is 12th October 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.  | Plaza Wires Limited IPO price band  The IPO is a fresh issue. The Plaza Wires IPO price band has been set between ₹51 and ₹54 per share. Interested investors can choose a price within this band to apply for the IPO. The Plaza Wires IPO listing price will be determined on 12th October 2023. The listing price is the price at which a company’s shares debut on the stock exchanges.  | Plaza Wires Limited IPO lot size  The Plaza Wires IPO details have been declared. The Plaza Wires IPO lot size is set at 277 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Plaza Wires IPO issue size is approx ₹71 crore.           How to apply for the Plaza Wires Limited Limited IPO?  If you are interested in this investment opportunity but unsure how to apply for the Plaza Wires Limited IPO, here we are listing out the steps for you.  When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Plaza Wires Limited IPO on Upstox:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘ Plaza Wires Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Apply’  Accept the mandate on your UPI app            How to check the the Plaza Wires Limited IPO allotment status?  When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.  Here’s a step-by-step guide on how to check the Plaza Wires Limited IPO allotment status:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover page, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, you will find the ‘View all’ option  Once you click on ‘View all’, you will be directed to the ‘IPO’ tab  In the ‘IPO’ tab, click on ‘My applications’  In ‘My applications’, under the History section, your the Plaza Wires Limited IPO allotment status will be mentioned            Open a demat account with Upstox to apply for the Plaza Wires Limited IPO  To apply for the Plaza Wires Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.  Here is a step-by-step guide on how to open a demat account with Upstox:   Click here to visit the demat account opening page on the Upstox website.  Enter your phone number and other essential details to begin opening a demat account.  Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.  Complete the e-verification using the OTP sent to your registered mobile number.   This is all it takes to open a demat account with Upstox. Easy and quick, right?            Upstox – trading app to apply for the Plaza Wires Limited IPO  Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.  You can apply for the Plaza Wires Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.  In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.