Vidya Wires is a book-built issue and have plan to raise around Rs[.] crores via IPO that comprises fresh issue of Rs3,200 crore and offer for sale up to [.] Equity Shares with face value of 1 each. The retail quota is 35%, QIB is 50%, and HNI is 15% as per DRHP. The IPO to list on NSE and BSE.
Vidya Wires Ltd manufactures winding and conductivity products, they have filed preliminary papers with the SEBI for an IPO, including fresh issues worth Rs320 crore and an offer-for-sale (OFS) of 1 crore equity shares by its promoters.
In the OFS process, Shyamsundar Rathi and Shailesh Rathi will each sell 50 lakh equity shares with a face value of Rs1 each share. This company is going to make a position in NSE and BSE once the process is complete.
The company has decided to use Rs140 crores of IPO to proceed with a new project named Vidya Wires’ subsidiary, ALCU. Another Rs 100 crore would be for repaying or prepaying outstanding loans. The rest of the funds will be utilized for the general purposes.
Vidya Wrires IPO lead managers’ names are IDBI Capital Markets & Securities Ltd, Pantomath Capital Advisors Pvt. While the registrar will Link Intime India Pvt. Ltd.
The primary purpose of the IPO is to acquire resources that will enhance its operational structure and help meet debt obligations.
Vidya Wires was founded in 1981 and is one of the leading firms for product manufacturers consisting of enameled copper rectangular strips, copper conductors, and many more. Over the years, this company has supplied products to up to 370 customers in various sectors, and they focused on a client base ensuring that customer satisfaction is the main for their business.
Further, they have a portfolio including precision-engineered 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.
Vidya Wires manufacturing facilities hold ISO 9001:2015 (Quality Management System), ISO 45001:2018 (Occupational Health & Safety Management System), and ISO 14001:2015 (Environmental Management System) certifications, and also their products meet a range of quality standards, including those set by the Bureau of Indian Standards.
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