Plaza Wires Ltd plans expansion, to raise Rs 71 crore
Cable, wire & solar panel maker Plaza Wires Ltd has plans to raise up to Rs. 71.28 crore from its public issue. As per the firm, the fresh issue of 1.32 crore equity shares will open for subscription on September 29, 2023.
The proceeds are towards capital expenditure for setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio, funding working capital requirements, and general corporate purposes. The firm as of now has a manufacturing facility at Baddi with an installed production capacity of 12,00,000 coils of standard size per annum.
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