 "Plaza Wires IPO subscribed 27.78 times on day two of subscription")
The Initial Public Offering (IPO) of Plaza Wires was subscribed 27.78 times on the second day of subscription on Tuesday.
The IPO received bids for 26,37,76,020 shares against 94,96,114 shares on offer, as per data available with the NSE.
The category for Retail Individual Investors (RIIs) was subscribed 118.24 times while the quota for non-institutional investors received 53.06 times subscription and the portion for Qualified Institutional Buyers (QIBs) got subscribed 42 per cent.
The offer is a fresh issue of up to 1,32,00,158 equity shares. The price range for the offer is Rs 51-54 a share.
The company is in the business of manufacturing, marketing and selling wires, aluminium cables and fast-moving electrical goods like electric fans and water heaters.
Plaza Wires has raised Rs 20 crore from anchor investors.
Pantomath Capital Advisors is the manager to the offer.
The equity shares of the company are proposed to be listed on the BSE and NSE.
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