Vidya Wires Limited files DRHP with SEBI for an IPO
Vidya Wires Limited one of the largest manufacturers of winding and conductivity products for a range of critical industries and applications has filed Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).
The public offer comprises of a fresh issue of equity shares aggregating up to Rs. 320 crore by company (THE “FRESH ISSUE”) and an offer for sale (OFS) aggregating up to 10,000,000 equity shares by the Promoter Selling Shareholders (“OFFER FOR SALE”) with face value of ₹1 each equity share.
Shyamsundar Rathi, Shailesh Rathi And Shilpa Rathi are the promoters of the company.
The Offer for Sale of upto 10,000,000 equity shares comprises of equity shares aggregating upto 5,000,000 by Shyamsundar Rathi and upto 5,000,000 equity shares by Shailesh Rathi (collectively THE “PROMOTER SELLING SHAREHOLDERS” and such Equity shares THE “OFFERED SHARES”)
Vidya Wires Limited proposes to utilize the net proceeds towards funding capital expenditure requirements for setting up new project in subsidiary viz. ALCU, Repayment/prepayment in full or part of all or certain outstanding borrowings availed by the Company and for General corporate purposes.
The company is the 4th largest manufacturers in the industry with a 5.9% market share of installed capacity in industry in FY24 in India as per the CareEdge Report. With plans to expand manufacturing capabilities and further diversify the product range, the Company seeks to enhance its market position. The product portfolio includes precision-engineered 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, railways. Used for conductivity, durability, and thermal efficiency, the products are integral to high-performance applications where reliability is crucial. (Source: CareEdge Report)
Pantomath Capital Advisors Private Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers to the issue.