Vidya Wires IPO subscribed 7.15 times so far on Day 2: Check price band, lot size and key details

Vidya Wires IPO: The initial public offering of Vidya Wires has received 7.15 times subscription so far on Thursday, December 4, the second day of bidding.

The ₹300.01-crore IPO secured bids for 30,99,56,256 shares against 4,33,34,009 shares on offer, as per details available on the NSE until 3:12 pm.

The retail individual investors (RIIs) category attracted 10.09 times subscription, while the portion for non-institutional investors (NIIs) got subscribed 8.05 times. The qualified institutional buyers (QIBs) part received 1.28 times subscription.

The company has set the price range of ₹48 to ₹52 per share, and a lot consists of 288 shares.

The initial share sale has a fresh issue of shares worth ₹274 crore, along with an offer for sale (OFS) of 50.01 lakh shares aggregating to ₹26 crore.

The company plans to utilise the net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and for general corporate purposes.

Vidya Wires IPO allotment and listing date

Vidya Wires IPO's basis of allotment is expected to be finalised on Monday, December 8. The company's shares will debut on the stock exchanges on December 10.

Vidya Wires IPO GMP

According to media reports and investorgain.com, unlisted shares of Vidya Wires are trading at ₹57.5, reflecting a grey market premium of 10.58% over the upper price band of ₹52.

About the company

Vidya Wires is one of the largest manufacturers of winding and conductivity products for a range of critical industries and applications.

The product portfolio includes precision-engineered enamelled wires, enamelled copper rectangular strips, paper-insulated copper conductors, copper busbars and bare copper conductors, specialised winding wires, PV ribbons and aluminium paper-covered strips, among others.

The products are used in varied critical applications such as energy generation & transmission, electrical systems, electric motors, clean energy systems, electric mobility and railways.

IDBI Capital Markets & Securities and Pantomath Capital Advisors are the issue's book-running lead managers, while MUFG Intime India is the registrar.