Vidya Wires Limited has filed a Draft Red Herring Prospectus (DRHP) with SEBI. The company plans to raise INR 320 crore with the fresh issue of equity shares having face value of INR 1 each. It proposes to utilize the net proceeds towards funding capital expenditure requirements for setting up a new project in subsidiary (ALCU) and for other corporate purposes.

Jan 13, 2025

Vidya Wires Limited, one of the largest manufacturers of winding and conductivity products for a range of critical industries and applications, has filed a Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).

The public offer comprises a fresh issue of equity shares aggregating up to INR 320 crore by the company and an offer for sale (OFS) aggregating up to 10,000,000 equity shares by the Promoter Selling Shareholders with face value of INR 1 each equity share.

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Vidya Wires proposes to utilize the net proceeds towards funding capital expenditure requirements for setting up a new project in subsidiary (ALCU), repayment/prepayment in full or part of all or certain outstanding borrowings availed by the company, and for general corporate purposes.

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, enamelled copper rectangular strips, paper insulated copper conductors, copper busbar and bare copper conductors, specialised winding wires, and PV ribbon and aluminum paper covered strips, among others.

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Pantomath Capital Advisors Private Limited and IDBI Capital Markets & Securities Limited are the book running lead managers to the issue.