Plaza Wires IPO GMP : The electric wires company Plaza Wires has received an excellent response from investors for its Initial Public Offering (IPO). On the last day of the subscription period, this IPO was subscribed 160.98 times. The Delhi-based company received bids for 1,52,86,56,909 shares against the offer of 94,96,114 shares.
The Plaza Wires IPO was open for subscription from September 29th to October 5th, 2023. The company set a price band of ₹51 to ₹54 per share for this IPO, with the aim of raising ₹71.28 crore through the offering.
Plaza Wires Limited, established in 2006, is a company that manufactures and sells wires, LT aluminum cables, and Fast Moving Electrical Goods (FMEG). The company markets these products under the Plaza Cables, Action Wires, and PCJ brands.
Plaza Wires IPO shares are currently trading at a premium of ₹23 in the grey market. Grey market trading typically occurs before the official listing of shares on a stock exchange and can provide an indication of investor sentiment and demand for the IPO. Please note that grey market trading is unofficial and carries its own risks and complexities. Investors should exercise caution and conduct thorough research before participating in such markets.
As per the company’s filing with SEBI, the allotment of Plaza Wires’ shares may take place on October 9th. For those investors who do not receive an allotment of shares, the refund process could commence on October 10th. Additionally, it is anticipated that the transfer of shares to investors’ Demat accounts will occur on October 11th. Please note that these dates are subject to change, and investors should stay updated with any revisions to the schedule through official announcements from the company and the stock exchange.
Plaza Wires IPO Listing Date: Plaza Wires’ shares from the IPO are expected to be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) on October 12th. This is when they will become available for trading on the stock exchanges, and investors will be able to buy and sell these shares in the open market. Please note that the actual listing date may be subject to change, so it’s a good idea to verify this information with the stock exchanges or official sources closer to the date.
Those who have applied for this IPO do not need to wander around after the announcement of share allotment. They can check the status of their application online by logging into the BSE (Bombay Stock Exchange) or KFintech website. For added convenience, they can log in directly at the BSE link – bseindia.com/investors/appli_check.aspx or the KFintech link – kprism.kfintech.com/ipostatus. These platforms will provide information about the status of their application after the share allotment announcement.
Disclaimer: This article is for informational purposes only and should not be considered as investment advice in any way. UKMSSBONLINE recommends its readers and viewers to seek advice from their financial advisors before making any decisions related to financial investments.