Plaza Wires Limited is scheduled to be listed on the stock exchanges today, October 12, 2023. The BSE notice states that starting from this date, the equity shares of Plaza Wires Limited will be listed and admitted to dealings on the Exchange in the ‘T’ Group of Securities.
The listing will take place on both BSE and NSE in a special pre-open session around 9:45 AM, with full-fledged trading commencing at 10:00 AM. Post-listing, the stock will be in the Trade-for-Trade segment for the next 10 trading days.
Market analysts anticipate a positive debut for Plaza Wires on Dalal Street, attributing this to the strong response from investors across all categories during the IPO. The public issue was perceived as reasonably priced, and the cable wires business is expected to benefit from the government’s focus on infrastructure development. The prevailing positive market sentiment further supports the optimistic outlook for Plaza Wires’ listing.
Experts predict that the Plaza Wires IPO listing price could range between ₹73 to ₹78 per equity share. Avinash Gorakshkar, Head of Research at Profitmart Securities, suggests that the stock may experience a listing gain of around 40% to 45%. Additionally, the grey market premium for Plaza Wires IPO is reported to be ₹24, indicating the market’s expectation of a listing price around ₹78 (₹54 + ₹24), reflecting a potential 45% increase from the IPO price band of ₹51 to ₹54 per equity share.
In summary, Plaza Wires is anticipated to make a robust entry into the stock market, with factors such as the company’s fundamentals, reasonable IPO pricing, and favorable market conditions contributing to the positive outlook for its listing.
