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Shares of Plaza Wires debuted at a strong premium of 56% over the issue price. The listing was in line with expectations, given the overwhelming response to the IPO. The IPO of Plaza Wires was booked nearly 161 times, making it the most oversubscribed issue of the year and it was listed at Rs 76 on the NSE while at 84 on the BSE.
The company raised Rs 71.28 crore via public issue to be used mainly for setting up a new unit for house wires, fire-resistant wires and cables, aluminium cables and solar cables to expand the product portfolio.