Vidya Wires: Modest Market Debut with Promising Growth

Vidya Wires, a manufacturer of winding and conductivity products, made a modest debut on the stock exchanges, with marginal gains. The company's Rs 300-crore IPO saw 26.59 times subscription. Proceeds from this will fund capital expenditure, debt repayment, and corporate purposes. The firm produces for critical industries.

Vidya Wires, a leading manufacturer in winding and conductivity products, marked its entry onto the stock exchanges on Wednesday with a modest market debut. Shares opened at Rs 52.13 on the BSE, slightly above the issue price of Rs 52, and saw a peak increase of 12.46% to Rs 58.48.

By the end of the trading session, Vidya Wires' stock closed at Rs 53.14 on the BSE, with a market capitalization valuing the company at Rs 1,130.25 crore. On the NSE, the shares began at par with the issue price, closing at Rs 52.80 after reaching a high of Rs 58.45.

The company's Rs 300-crore Initial Public Offering (IPO) was substantially oversubscribed, receiving 26.59 times its share sale volume. Funds from the IPO will support capital expenditure in subsidiary ALCU, debt repayment, and broader corporate strategies. Vidya Wires serves a spectrum of industries requiring precision-engineered products.

(With inputs from agencies.)