Vidya Wires IPO opens for subscription on tomorrow (Wednesday, December 3). Vidya Wires stands as one of the largest producers of winding and conductive products for a wide array of essential industries and applications.
Their product range features meticulously designed Enameled Wires, Enameled Copper Rectangular Strips, Paper Insulated Copper Conductors, Copper Busbars, and Bare Copper Conductors, along with Specialized Winding Wires, PV Ribbon, and Aluminum Paper Covered Strips, among others.
These products are utilized in various crucial applications such as energy generation and transmission, electrical systems, electric motors, clean energy technologies, electric mobility, and railways.
As per the red herring prospectus (RHP), the company’s listed peers are Precision Wires India Ltd (with a P/E of 53.45), Ram Ratna Wires Ltd (with a P/E of 42.19), and Apar Industries Ltd (with a P/E of 44.36).
Here are the 10 key things to know about Vidya Wires IPO
Vidya Wires IPO GMP today: Vidya Wires IPO grey market premium is ₹5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vidya Wires share price was indicated at ₹57 apiece, which is 9.62% higher than the IPO price of ₹52.
According to the grey market activity over the past five sessions, the IPO GMP is trending downward today and is anticipated to decrease further. The lowest GMP recorded is ₹5, while the highest found is ₹10, as per experts.
Vidya Wires IPO date: The issue opens for subscription on Wednesday, December 3, and closes on Friday, December 5.
Vidya Wires IPO price band: The issue’s price band has been fixed in the range of ₹48 to ₹52 per equity share of face value of Re 1.
Vidya Wires IPO lot size: The issue’s lot size is 288 equity shares and in multiples of 288 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Vidya Wires IPO is scheduled to take place today (Tuesday, December 2).
Vidya Wires IPO details: Vidya Wires’ initial public offering includes a new share issue totaling ₹274 crore, in addition to an Offer For Sale (OFS) of 50.01 lakh shares estimated at ₹26 crore.
Vidya Wires IPO objective: The company intends to use the net proceeds to finance capital expenditure needs for establishing new projects in subsidiary ALCU, repay debt, and for general corporate uses.
Vidya Wires IPO listing date and allotment details: Tentatively,Vidya Wires IPO basis of allotment of shares will be finalised on Monday, December 8 and the company will initiate refunds on the same day, while the shares will be credited to the demat account of allottees on Tuesday, December 9. Vidya Wires IPO shares are likely to be listed on BSE and NSE on Wednesday, December 10.
Lead Manager and Registrar of Vidya Wires IPO: Pantomath Capital Advisors Private Limited along with IDBI Capital Markets & Securities Limited serve as the lead managers for the offering, while MUFG Intime India Pvt. Ltd. acts as the registrar for the issuance.
Vidya Wires IPO reservation: Vidya Wires IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
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