Plaza Wires Limited IPO IPO: GMP, subscription status, Apply or not?

In this article, we will talk about the Plaza Wires IPO. The initial general offering (IPO) of Plaza Wires Limited was unlocked for subscribers on 29th September 2023. It will end today, 5 October 2023. This represents, today is the final date to apply for this public issue presented for listing on NSE and BSE. The company has settled Plaza Wires IPO worth band is set at 51 to 54 for each equity share and the company seeks to raise 71.28 crore from this public offer. Here we have more information about the news and we will share it with you in this article.

Plaza Wires IPO

Meantime, the grey market has been declining strong singles despite weak feelings on the Indian stock market. As per the market observation, shares of Plaza Wires Limited have been available at a price of  23 in the grey market today.

Plaza Wires IPO GMP today

Market viewers stated that Plaza Wires IPO grey market premium (GMP) today is 23, which has been huge as market views are positively bearish these days. Indian stock market was under sell-off stress for the last two days because of weak international cues. They stated that a strong reaction by investors is one of the possible reasons that has filed grey market sentiment amid a weak stock market. Scroll down to the next page for more information about the news.

Plaza Wires IPO subscription status

On the third day of bidding around 01:09 PM, the general issue was subscribed 99.69 times while its retail part was subscribed 300.04 times. The NII portion of the public offering was subscribed 245.58 times while its QIB segment was filled 10.39 times.

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Plaza Wires IPO review

Offering ‘subscribe’ tag to Plaza Wirse IPO, Asit C Mehta’s report states,” The electrical wires segment has seen a sharp transformation over the previous many years. The involvement of customers in buying electrical has increased sharply. Electrical fault is the main cause of residential blazes and its possible hazard is growing as more electrical devices are found in each family unit nowadays. With a growth in fire accidents caused by electrical defects, customer inclination towards impressed works has been on the rise.”

As per the reports, the wires and cables industry in India in value terms, has grown at a compound annual development rate (CAGR) of around 13.68% in the previous five years to reach 788.00 billion in Fiscal 2021. Here we have shared all the information that we had. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.