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The company raised Rs 71.28 crore via public issue to be used mainly for setting up a new unit for house wires, fire-resistant wires and cables, aluminium cables and solar cables to expand the product portfolio.
Plaza Wires IPO | The demand for its equity shares also remained strong in the grey market, trading with 42 percent premium over the issue price, analysts said
Plaza Wires IPO | IPO shares seem to be getting good demand in the grey market as analysts on anonymity said shares were available at more than 25 percent premium over the upper price band.
Delhi-based Plaza Wires sets price band for IPO at ₹51-54 per share to raise funds for expansion and operational needs.
The funds raised will go towards building a new factory in Himachal Pradesh and meeting its operational needs, the company has said