IPO
Copper conductor maker Vidya Wires’ Rs.300-Cr issue subscribed 27 times
The initial public offering of Anand, Gujarat-headquartered Vidya Wires was subscribed nearly 27 times its offer size.The IPO received bids for over 115 crore shares, as against an offer size of 4.33 crore shares. Non-institutional investors (NII) led the subscription numbers, booking their reserved portion nearly 52 times. Retail investors followed, booking their allotted quota around 28 times. Qualified Institutional Buyers (QIB) subscribed their reserved portion over 5 times.Vidya Wires launched its IPO to raise a fresh issue of shares for INR 274 crore along with an offer for sale of shares worth INR 26 crore at a price band of INR 48-52 per share.Vidya Wires is a 40-year-old profitable copper conductor manufacturer supplying ABB, Siemens, and Crompton.
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