Plaza Wires IPO: Firm mobilises ₹20 crore from anchor investors ahead of issue

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Plaza Wires IPO: Plaza Wires has raised ₹20 crore from anchor investors a day ahead of its IPO subscription opening for bidding. Plaza Wires initial public offering (IPO) will open for subscription on Friday, September 29 and close on Wednesday, October 4. Two anchor investors - Chanakya Opportunities Fund I and Astrone Capital UCC-Arven, participated in the anchor book.

Plaza Wires is engaged in the business of manufacturing and selling wires, and selling and marketing LT aluminium cables and fastmoving electrical goods (FMEG) under its flagship brand 'Plaza Cables' and home brands such as 'Action Wires'. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights!" Click Here Plaza Wires IPO is a book built issue of ₹71.28 crore.

The issue is entirely a fresh issue of 1.32 crore shares. The Delhi-based wire and cable manufacturer has fixed the price band at ₹51 to ₹54 per equity share for the public issue. Investors can bid for a minimum of 277 shares and in multiples thereof.

Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Plaza Wires IPO, while Kfin Technologies Limited is the registrar for the issue. Sanjay Gupta and Sonia Gupta are the company's promoters. The allotment for the Plaza Wires IPO is expected to be finalized on Monday, October 9, 2023.