Shares of Vidya Wires made a muted market debut on Wednesday, listing at par with their issue price despite the company’s ₹300-crore IPO drawing robust investor interest and closing 26.59 times subscribed on the final day.
The stock opened at ₹52 per share on the NSE, matching its IPO price. On the BSE, it saw a marginally stronger start at ₹52.13 per share. While the listing was flat, sentiment ahead of the debut had been upbeat, with the grey market indicating a premium of nearly 7%.
The public offer, which ran from December 3 to 5 in a price band of ₹48–52, was fully subscribed within hours of opening and ended the first day with 2.89 times subscription. Prior to the issue opening, the company mobilised ₹90 crore from anchor investors, including Bandhan MF, LIC MF, Bank of India MF, Maybank Securities, Alchemy Emerging Leaders of Tomorrow Series 2 and the MAIQ Growth Scheme.
The IPO comprised a fresh issue of ₹274 crore and an offer for sale of 50.01 lakh shares worth ₹26 crore. The company plans to deploy the proceeds towards capex at subsidiary ALCU, debt repayment and general corporate purposes.
Vidya Wires is among India’s largest manufacturers of winding and conductivity products used across power generation and transmission, electrical systems, motors, clean energy, electric mobility and railways. Its portfolio includes enameled wires, paper-insulated copper conductors, copper strips, busbars, specialised winding wires, PV ribbon and aluminium paper-covered strips.
