Vidya Wires sets IPO price band at ₹48–52 per share

Vidya Wires Ltd. has announced its entry into the capital markets with a ₹300-crore Initial Public Offering (IPO), priced in the range of ₹48 to ₹52 per equity share, having a face value of ₹1 each. The public issue will open on December 3 and conclude on December 5. Investors can place bids for a minimum of 288 shares, and thereafter in multiples of 288. The IPO consists of a fresh issue worth up to ₹274 crore and an offer for sale (OFS) of up to 5,001,000 equity shares, estimated to be around ₹26 crore. The company intends to deploy the net proceeds from the fresh issue towards: • Capital expenditure for establishing a new project under its subsidiary ALCU, amounting to approximately ₹140 crore; • Repayment or prepayment, either fully or partially, of certain outstanding borrowings, estimated at around ₹100 crore; • General corporate purposes. Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.