The stocks of cable manufacturer Plaza Wires have been listed in the stock market today. The company's shares made a great start. The company's shares were listed at a premium of 53 percent over the issue price of Rs 54.
The company's stock made its debut at Rs 84 on BSE, up 53.06 percent from the issue price.
At the same time, it started trading on NSE at Rs 76 at a premium of 40.74 percent. Later it increased by 5.53 percent to Rs 80.20.
The market valuation of the company on BSE was Rs 351.02 crore.
Plaza Wires' IPO was subscribed 160.98 times due to heavy demand from institutional and retail investors. The price range of the company's IPO was Rs 51-54 per share.
Plaza Wires is a cable manufacturer. The company is engaged in the business of manufacturing, marketing, and selling wires, aluminum cables, and fast-moving electrical accessories like electric fans and water heaters.