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.
The initial public offer (IPO) of Plaza Wires was subscribed a strong 43.22 times so far on the third day of the bidding process on Wednesday. This was led by massive subscription from retail investors at 175.69 times.
Plaza Wires IPO | Paras Defence was the last IPO to see a retail subscription of over 100 times. The retail portion was subscribed 113 times in September 2021
Plaza Wires IPO opens for subscription today, offering wires, cables, and electrical goods under various brands. The company plans to use the funds for expansion and working capital. The IPO price band is set at ₹51 to ₹54 per share.
Plaza Wires IPO | IPO shares seem to be getting good demand in the grey market as analysts on anonymity said shares were available at more than 25 percent premium over the upper price band.