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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.
Shares of Plaza Wires made a strong debut on the BSE and NSE, with a premium of 55.5% and 40.7%, respectively over the issue price. The IPO was oversubscribed 161 times, which can be attributed to the company s impressive growth and competitive strengths. Plaza Wires is engaged in manufacturing and selling wires, LT aluminium cables, and electrical goods. The proceeds from the IPO will be used for expanding the product portfolio and funding working capital requirements.