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Plaza Wires' IPO massively oversubscribed, set for listing on BSE and NSE

EditorMalvika Gurung
Published 10/09/2023, 12:05 AM
© Reuters.

The initial public offering (IPO) of Plaza Wires, which saw an overwhelming response from investors, is set to finalize its share allotment today. The company reported that the IPO was oversubscribed by 160.97 times, with bids received for over 1.5 billion shares against the offering of just 95 million.

Successful bidders are expected to have their shares credited into their demat accounts by Wednesday, October 12. The company has scheduled its shares to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Thursday, October 13.

Aspiring shareholders can verify their allotment status online via the BSE website or through Kfin Technologies, the registrar's site. This marks a significant step in Plaza Wires' journey as it transitions from a private entity to a publicly-traded company on two of India's leading stock exchanges.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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