Vidya Wires IPO to open on Dec 3; price band fixed at ₹48–₹52, lot size and key details revealed

Vidya Wires IPO: Copper and aluminium wires manufacturer Vidya Wires has set a price band of ₹48 to ₹52 per share for its ₹300 crore initial public offering, which will open on December 3. The IPO will conclude on December 5.

The initial share sale is a fresh issuance of ₹274 crore and an offer for sale (OFS) of ₹26 crore by promoters Shyamsundar Rathi and Shailesh Rathi.

The net proceeds from the issue will be utilised for funding capital expenditure needs for establishing new project its unit viz ALCO, epayment of debt availed by the company and corporate general purposes.

Vidya Wires IPO: Lot size

A lot consists of 288 shares and multiples thereof. The company has reserved 50% of the net offer for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail individual investors (RIIs).

Meesho IPO: Allotment and listing date

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

About Vidya Wires

Vidya Wires is among the largest manufacturers of winding and conductivity products for a range of critical industries and applications. Its product portfolio includes precision-engineered wires, paper-insulated copper conductors, enamelled copper rectangular strips, copper busbars and bare copper conductors, PV ribbon and aluminium paper-covered strips and specialised winding wires, among others. The company's products are utilised in varied critical applications like electrical systems, electric motors, energy generation & transmission, clean energy systems, electric mobility and railways.

It is a pre-approved supplier with Power Grid Corporation of India and a UL-approved company, which allows it to export enamelled copper/aluminium wire to the United States of America.