Public Market

IPO

Plaza Wires files DRHP

Economic Times  

Delhi-based Plaza Wires has filed a draft red herring prospectus (DRHP) for its initial public offering (IPO). The stake sale will entirely consist of the issuance of 1,64,52,000 fresh equity shares, with a face value of INR 10 each. The net proceeds from its fresh issuance will be used towards capital expenditure for setting up a new manufacturing unit and for working capital requirements. The company manufacturer and sells wires, aluminium cables and fast-moving electrical goods.