Plaza Wires IPO receives 152 crore bids versus 95 lakh shares on offer, oversubscribed 161 times

The Rs 71.28 Crore Initial Public Offering of Plaza Wires Limited witnessed a strong response from Retail and Non-Institutional Investors with 160.98 times subscription on the final day of bidding.

The issue received bids of 1,52,86,61,064 shares against the offered 94,96,114 equity shares, at a price band of ₹51-54, according to the data available on the stock exchanges.

Non-Institutional Investors Portion was the most subscribed with 388.10 times, followed by Retail Portion with 374.81 times, whereas Qualified Institutional Buyer Portion was subscribed 42.84 times.

Pantomath Capital Advisors Private Limited is the sole book running lead manager to the issue. The Equity Shares are proposed to be listed on BSE Limited and National Stock Exchange (NSE).

Source : Equity Bulls

Keywords

PlazaWires IPO FundRaising Oversubscription