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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital expenditure for new manufacturing unit
Funding capital expenditure for a proposed manufacturing facility for house wires, fire-resistant wires and cables, aluminium cables and solar cables to widen the product range.
Working capital funding
Meeting the company's working capital requirements to support its ongoing operations.
General corporate purposes
The balance of the net issue proceeds to be used for general corporate purposes.
(₹ in Crore)
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Plaza Wires Limited manufactures and markets electrical wires, cables and fast moving electrical goods (FMEG) under its flagship brand Plaza Cables, along with the home brands Action Wires and PCG. The company was originally set up as Navratna Wires and today makes a wide product range spanning house wires, industrial cables, fire retardant and fire survival cables, aluminium cables and solar cables, alongside FMEG items such as fans, water heaters, switches and switchgear. The company holds ISO 9001:2015 and ISO 14001:2015 certifications for its manufacturing processes. The company is headquartered in New Delhi and runs its manufacturing operations out of Baddi, Himachal Pradesh, with an installed capacity of about 12,00,000 coils a year at the time of the issue, alongside plans to add further coil and cable capacity through a new unit. Distribution is carried out through a network of more than 1,249 authorised dealers and distributors, supported by branch offices in Rajasthan, Uttarakhand and Uttar Pradesh, a branch-cum-godown in Maharashtra, warehouses across Uttar Pradesh, Assam, Kerala and Delhi, and a carrying and forwarding agent in Punjab. Over the three years leading up to the issue the business grew steadily, with revenue rising from about Rs 145.6 crore in FY21 to Rs 176.9 crore in FY22 and Rs 182.6 crore in FY23, while profit after tax improved from Rs 4.2 crore to Rs 5.9 crore and Rs 7.5 crore over the same period. The company is controlled by promoters Sanjay Gupta and Sonia Gupta and competes in a fragmented wires and cables market against several established regional and national players.
Plaza Wires raised about Rs 20 crore from its anchor book on 27 September 2023, allotting roughly 37.04 lakh shares to two anchor investors, Chanakya Opportunities Fund I and Astrone Capital UCC-Arven, at the IPO's upper price band of Rs 54 per share.
Source: RHP • Analysis provided for informational purposes
Last Updated: 18 July 2026, 5:30 AM
Established brand in wires and cables
The company sells under the recognized PLAZA CABLES brand with a long operating history dating back to its 2006 incorporation, supporting customer trust in a competitive segment.
Wide distribution reach
A network of over 1,249 dealers and distributors, along with multiple regional branch offices and warehouses, gives the company strong market penetration across northern India.
Diversification into FMEG
Expansion beyond wires and cables into fans, MCBs and distribution boards broadens the revenue base and taps higher-margin electrical product categories.
Highly competitive industry
The wires and cables segment has several larger, well-established players, which can pressure the company's pricing and market share.
Full valuation versus earnings
The issue is priced at a multiple that leaves limited room for error if earnings growth slows, based on its most recent full-year profitability.
Regional revenue concentration
A large share of sales comes from northern India, leaving the business exposed to regional demand or competitive shifts.
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