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Upcoming IPO! Vidya Wires files draft papers with market regulator Sebi

Pantomath Capital Advisors, and IDBI Capital Markets & Securities are the Book Running Lead Managers to the issue, while MUFG Intime India (formerly known as Link Intime India) serves as the registrar

IPO

SI Reporter New Delhi

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Upcoming IPO: Winding and conductivity products manufacturer Vidya Wires is planning to make its debut on D-Street. The company has filed its Draft Red Herring Prospectus (DRHP) with the capital market regulator, the Securities and Exchange Board of India (Sebi), for an Initial Public Offering (IPO).
 
The public offering comprises a fresh issue of equity shares aggregating up to Rs 320 crore by the company, and an offer for sale (OFS) of up to 10,000,000 equity shares with a face value of Re 1 apiece. The equity shares are proposed to be listed on the BSE and the National Stock Exchange of India (NSE).  ALSO READ: Quadrant Future Tek IPO listing forecast
 
 
Pantomath Capital Advisors, and IDBI Capital Markets & Securities are the Book Running Lead Managers to the issue, while MUFG Intime India (formerly known as Link Intime India) serves as the registrar.
 
The company will not receive any proceeds from the OFS. "Each of the Promoter Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale, after deducting their proportion of the Offer-related expenses and relevant taxes thereon," Vidya Wires said in its DRHP.
 
That said, the company intends to use the proceeds from the fresh issue for funding capital expenditure requirements for setting up a new project in its subsidiary, ALCU. Vidya Wires further proposes to utilise the proceeds for repayment/prepayment, in full or in part, of all or certain outstanding borrowings availed, as well as for general corporate purposes.
 
Incorporated in 1981, Vidya Wires is one of the largest manufacturers of winding and conductivity products for a range of critical industries and applications. The company's product portfolio includes precision-engineered wires, enameled copper rectangular strips, paper-insulated copper conductors, copper busbar and bare copper conductors, specialised winding wires, PV ribbon, and aluminum paper-covered strips, among others. 
 
According to the data available in the DRHP, Vidya Wires' profit rose to Rs 25.69 crore in FY24, up 19.54 per cent from Rs 21.49 crore reported in FY23.
 
The company's revenue from operations jumped to Rs 1,186.07 crore, up 17.26 per cent from Rs 1,011.43 crore reported in FY23. On the flip side, the company's expenses also jumped to Rs 1,154.16 crore in FY24, up 16.97 per cent from Rs 986.67 crore reported in FY23.
   

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First Published: Jan 13 2025 | 1:37 PM IST

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