Bandhan Mutual Fund (MF), LIC MF, Bank of India MF, Maybank Securities, Alchemy Emerging Leaders of Tomorrow Series 2 and MAIQ Growth Scheme are the anchor investors who have been allotted shares, according to a circular uploaded on BSE’s website.
As per the circular, Vidya Wires has allotted 1.73 crore shares to these anchor investors at Rs 52 apiece.
The IPO will be available for public subscription during December 3-5 in the price range of Rs 48-52 per share.
The company’s maiden public offering comprises a fresh issue of shares worth Rs 274 crore, along with an Offer For Sale (OFS) of 50.01 lakh shares valued at Rs 26 crore.
The company proposes to utilise the net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and for general corporate purposes.
Vidya Wires is one of the largest manufacturers of winding and conductivity products for a range of critical industries and applications.
The product portfolio includes precision-engineered Enameled Wires, Enameled Copper Rectangular Strips, Paper Insulated Copper Conductors, Copper Busbar and Bare Copper Conductors, Specialised Winding Wires, PV Ribbon and Aluminum Paper Covered Strips, among others.
The products are used in varied critical applications such as energy generation & transmission, electrical systems, electric motors, clean energy systems, electric mobility and railways. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Shares of Vidya Wires are expected to list on the BSE and NSE on December 10.
