According to the circular, Vidya Wires has allotted 1.73 crore shares to these anchor investors at Rs 52 each.The IPO will be available for public subscription from December 3 to 5 in the price range of Rs 48-52 per share.
The company’s maiden public offer includes a fresh issue of shares worth Rs 274 crore, along with an Offer For Sale (OFS) of 50.01 lakh shares worth Rs 26 crore.
The company proposes to use the net proceeds to fund capital expenditures for setting up new projects in subsidiary ALCU, servicing debt and for general corporate purposes.
Vidya Wires is one of the largest manufacturers of winding and conductivity products for a range of critical industries and applications.
The product portfolio includes precision engineered enameled wires, enameled copper rectangular strips, paper insulated copper conductors, copper busbars and bare copper conductors, specialized winding wires, PV ribbon and aluminum paper covered strips.
The products are used in a variety of critical applications such as power generation and transmission, electrical systems, electric motors, clean energy systems, electric mobility and railways. Half of the issue size is reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
Shares of Vidya Wires are expected to list on the BSE and NSE on December 10.
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