Vidya Wires IPO opens tomorrow: Bid or skip? Here's what experts suggest

The unlisted shares of Vidya Wires were trading at ₹57, commanding a grey market premium of ₹5 or 9.6 per cent on Tuesday

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Vidya Wires IPO: The maiden public issue of Vidya Wires, a Gujarat-based copper and aluminium wires manufacturer, is scheduled to open for public subscription on Wednesday, December 3, 2025. The company aims to raise ₹300 crore through a combination of fresh issue of 52.7 million shares worth ₹274 crore and an offer for sale (OFS) of 5 million shares worth ₹26.01 crore. 

 

Under the OFS, Shyamsundar Rathi and Shailesh Rathi are the promoters selling shareholders. 

 

According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), not less than 35 per cent for retail investors and not more than 15 per cent for non-institutional investors (NIIs).

Vidya Wires IPO: Here's what the brokerages suggest

Anand Rathi - Subscribe for Long-term

Analysts at Anand Rathi noted that at the upper price band, the company is valued at 27.0× FY25 P/E, implying a post-issue market capitalisation of ₹1106 crore. The company currently offers more than 8,000 SKUs and intends to expand its product basket through the Proposed Project to include copper foils, copper components, transposed conductors, PV round ribbons, solar cables, and enamelled aluminium wires and strips. Following this expansion, the portfolio is expected to scale to around 18 products catering to both existing and new customers.

 

According to the brokerage, the management also plans to tap high-growth areas such as electric vehicles and renewable energy, helping the company diversify into newer segments while widening its global reach. Considering these growth drivers and expansion plans, the brokerage views the IPO as reasonably priced and assigned a “Subscribe – Long Term” rating.

SBI Securities - Subscribe for Long-term

According to SBI Securities, the IPO is priced at a FY25 P/E of 27.1x at the upper band of ₹52 on a post-issue basis. In its note, the brokerage highlighted the company’s strong financial trajectory, with revenue, Ebitda, and PAT registering CAGRs of 21 per cent, 34 per cent and 38 per cent, respectively, between FY23 and FY25, reaching ₹1,486 crore, ₹64 crore and ₹41 crore.

 

Analysts noted that the company is in the midst of a major capacity expansion that will effectively double its current capacity, enabling its market share to rise from 5.7 per cent to over 11 per cent. The planned launch of new products is also expected to support margin improvement and drive profitability. Additionally, industry tailwinds, including accelerating EV adoption, rising investments in AI data centres, and large-scale renewable energy capacity expansion, are likely to strengthen growth visibility.

 

On a comparative basis, SBI Securities said the valuation is reasonable and recommended investors subscribe at the cut-off price with a long-term investment perspective. 

Vidya Wires IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Vidya Wires were trading at ₹57, commanding a grey market premium (GMP) of ₹5 or 9.6 per cent on Tuesday, December 2, 2025.

Here are the key details of Vidya Wires IPO: 

The three-day subscription window to bid for the Vidya Wires IPO will close on Friday, December 5, 2025. The allotment of shares is expected to be finalised on Monday, December 8, 2025. The successful allottees will receive the company's shares in their respective demat accounts on Tuesday, December 9, 2025. 

 

Shares of Vidya Wires will make their debut on the exchanges, NSE and BSE, tentatively on Wednesday, December 10, 2025. 

 

The company has set the price band in the range of ₹48 to ₹52, with a lot size of 288 shares. A retail investor would require a minimum investment of ₹14,976 to bid for at least one lot and in multiples thereafter.

 

MUFG Intime India is the registrar for the issue. Pantomath Capital Advisors and IDBI Capital Markets and Securities are the book-running lead managers.

 

As per the RHP, the company plans to utilise ₹140 crore from the net fresh issue proceeds for setting up a new project in its subsidiary ALCU, and ₹100 crore for repayment or prepayment of certain borrowing availed by the company. The remaining funds will be used for the general corporate purposes.  

Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.