Vidya Wires Sets IPO at Rs 48-52 per Share, Valued Over Rs 1,100 Crore

Vidya Wires, a leading producer of winding and conductivity products, plans an Initial Public Offering (IPO) with a price range of Rs 48-52 per share, valuing the company over Rs 1,100 crore. The IPO will include a fresh issue of shares and an offer for sale, opening on December 3, 2023.

Vidya Wires, a prominent manufacturer of winding and conductivity products, has announced the pricing for its Rs 300-crore Initial Public Offering (IPO), setting the share price band at Rs 48-52. This valuation places the company's worth at over Rs 1,100 crore at its upper limit.

The IPO process is slated to commence on December 3 and will close on December 5, with anchor investors receiving allocations a day earlier. The firm plans to issue fresh shares amounting to Rs 274 crore and conduct an Offer For Sale involving 50.01 lakh shares valued at Rs 26 crore.

Proceeds from the IPO will support capital expenditure for new projects in subsidiary ALCU, debt repayment, and general corporate purposes. The Vidya Wires product lineup, targeting key sectors like energy and transportation, will see its shares listed on the BSE and NSE on December 9.

(With inputs from agencies.)