Plaza Wires IPO Allotment Status Insights: Your Guide to Checking Online

Plaza Wires IPO Allotment Status Insights: Your Guide to Checking Online

The Plaza Wires IPO, a financial event garnering significant attention, initiated its subscription period on September 29, 2023, with closure slated for October 4, 2023. The IPO aims to raise approximately ₹71.28 crores. The allotment structure consists of a 10% allocation for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for Non-Institutional Investors (NIIs). The equity share price range has been set between ₹51 and ₹54. On October 9, 2023, the crucial Plaza Wires IPO Allotment Status will be determined, while the refund process kicks off on October 10, 2023. Finally, on October 11, 2023, investors can anticipate the addition of shares to their Demat accounts. On October 12, 2023, the Plaza Wires IPO is expected to debut on the stock market.

Unlocking the Plaza Wires IPO Allotment Status

To access your Plaza Wires IPO Allotment Status, investors have the choice of utilizing their bank and Demat accounts either offline or through the KFintech website. Below, we outline a step-by-step guide for checking the Plaza Wires IPO allocation status, whether online or offline. The IPO endeavors to raise ₹71.28 crores, boasting a fixed price per equity share within the ₹51 to ₹54 range. The IPO will be listed on both NSE and BSE.

Utilization of IPO Proceeds

The funds generated from the IPO will be directed towards various avenues, including kickstarting a new manufacturing facility to produce house wires, fire-resistant wires and cables, aluminum cables, and solar cables. Furthermore, these proceeds will support the working capital requirements of the business and finance general corporate purposes. Notably, Pantomath Capital Advisors Pvt Ltd assumes the role of the book-running lead manager for the Plaza Wires IPO Allotment Status, while Kfin Technologies Limited operates as the issue registrar.

Plaza Wires IPO Grey Market Premium (GMP)

As of now, the Grey Market Premium (GMP) for Plaza IPO stands at +12. According to, this indicates that Plaza Wires shares were trading at a premium of ₹12 on the grey market. With an expected listing price of ₹66 per share, this amounts to a substantial 22.22% premium above the IPO price of ₹54. This calculation factors in the top end of the IPO pricing range and the existing premium in the grey market.

Key Dates to Remember

  • Opening Date: September 29, 2023
  • Closing Date: October 4, 2023
  • Basis of Allotment: October 9, 2023
  • Initiation of Refunds: October 10, 2023
  • Demat Account Credit: October 11, 2023
  • Listing Date: October 12, 2023

The Significance of Grey Market Premium

A “grey market premium” is indicative of investors’ willingness to pay a higher price than the issue price. Plaza Wires offered 277 shares in a lot size during the IPO, with share prices ranging from ₹51 to ₹54. The total issue size was ₹71.28 crores, and all new shares contributed to this sum. Both NSE and BSE have listed the IPO.

How to Verify Plaza Wires IPO Allotment Status on BSE?

Investors can effortlessly verify their Plaza Wires IPO allotment status by following these straightforward steps:

  1. Visit Kfintech’s official website and log in.
  2. Select the Plaza Wires IPO.
  3. Enter your application number for the Plaza Wires IPO.
  4. Provide your PAN information.
  5. Verify your human status by clicking the “I’m not a robot” button.
  6. Finally, press the “Submit” button to access your allotment status.

Plaza Wires IPO Objectives

In a bid to diversify its product portfolio, the company plans to utilize the net proceeds from the offering for several purposes. These include financing the working capital requirements of the business, supporting general corporate functions, and covering the capital cost of establishing a new manufacturing facility. This facility is geared towards the production of house wires, fire-resistant wires and cables, aluminum cables, and solar cables.

Plaza Wires IPO Issue Price & Lot Size

The company has set a price range of ₹51–₹54 per share for the IPO. Investors can bid for Plaza Wires shares in multiples of 277 during the public auction, equivalent to ₹14,127–₹14,958 per lot.

Plaza Wires IPO Reservation

A total of 13,200,158 shares are available in the Plaza Wires IPO.

  • Retail Individual Investors (RII): 1,320,015 (35.00%)
  • Non-Institutional Investors (NII): 1,980,023 (15.00%)
  • Qualified Institutional Buyers (QIB): 6,196,076 (75.00%)

According to Dilip Davda, a contributing editor at, Plaza Wires operates in a fiercely competitive industry with several major contenders. The issue appears to be fully priced based on its FY23 profits, as evidenced by the consistent growth in both its top and bottom lines during the reported periods. Investors may consider allocating funds with a long-term perspective in light of the company’s growth aspirations.

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