New Delhi: Winding and conductivity products maker Vidya Wires on Friday fixed a price band of Rs 48-52 per share for its upcoming Rs 300-crore Initial Public Offering (IPO).At the upper end, the company will be valued at over Rs 1,100 crore.The initial share-sale will open for subscription on December 3 and close on December 5, with anchor investors set to receive their allocation on December 2, the company announced.
Press Release |
The IPO comprises a fresh issue of shares worth Rs 274 crore, along with an Offer For Sale (OFS) of 50.01 lakh shares valued at Rs 26 crore.The company proposes to utilize the net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and for general corporate purposes.
Vidya Wires is one of the largest manufacturers of winding and conductivity products for a range of critical industries and applications.The product portfolio includes precision-engineered Enameled Wires, Enameled Copper Rectangular Strips, Paper Insulated Copper Conductors, Copper Busbar and Bare Copper Conductors, Specialised Winding Wires, PV Ribbon And Aluminum Paper Covered Strips, among others.
The products are used in varied critical applications such as energy generation & transmission, electrical systems, electric motors, clean energy systems, electric mobility and railways.Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.Shares of Vidya Wires are expected to list on the BSE and NSE on December 9.
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