The IPO, the bidding process for which ended on October 5, received strong participation from investors across categories, receiving bids for 152.9 crore shares against the almost 95 lakh shares on offer, according to provisional exchange data.
The grey market premium (GMP) of Plaza Wires has doubled after solid bidding. The counter was commanding a premium of Rs 23-25 apiece, hinting at prospects of 43-50 per cent listing pop.
The IPO of Plaza Wires was subscribed a massive 161 times with the retail portion s subscription at 374.81 times. The non-institutional investors (NII) category was oversubscribed 388.09 times while the qualified institutional buyers (QIB) part was booked over 42 times.