Plaza Wires' Rs.71-Cr IPO subscribed 161 times

The initial public offer (IPO) of Delhi-headquartered Plaza Wires received the highest subscription for any issue this year. The INR 71 crore offer was subscribed 161 times on the last day of bidding process. The retail and NII categories were booked 374 times and 388 times, respectively. The QIB part was subscribed 42.84 times. The IPO comprises a fresh equity issue of 1.32 crore shares at INR 51-54 apiece Net proceeds from the issue would be used for setting up a new manufacturing unit for house wires, fire-resistant wires and aluminium cables. Pantomath Capital Advisors is the sole book-running lead manager to the issue.