The Gujarat-based copper and aluminium wire manufacturer’s IPO, priced in the ₹48-52 band, will remain open until December 5. | Photo Credit: istock.com
The retail investor segment led the subscription with 2.47 times oversubscription, followed by non-institutional investors at 1.89 times. However, qualified institutional buyers (QIBs) remained cautious, bidding for only 0.47 times their reserved portion of 1.23 crore shares. Foreign institutional investors accounted for the entire QIB participation.
Among non-institutional investors, those bidding above ₹10 lakh showed stronger interest at 2.09 times, while the ₹2-10 lakh category was subscribed 1.50 times. The issue received bids for 7.72 crore shares against 4.33 crore shares on offer.
Established in 1981, Vidya Wires is India’s fourth-largest manufacturer in its segment with 5.7 per cent market share based on installed capacity. The company operates three facilities in Gujarat with total capacity of 19,680 metric tonnes per annum. It serves over 318 customers across power transmission, electrical, renewable energy, and electric vehicle sectors.
The IPO comprises a fresh issue of ₹274 crore and an offer-for-sale of ₹26 crore by promoters Shyamsundar Rathi and Shailesh Rathi. Proceeds will fund a capacity expansion project adding 18,000 mtpa through subsidiary ALCU, which would double the company’s market share to 11.3 per cent, and repay ₹100 crore in debt.
Equity research analyst Prasenjit Paul described Vidya Wires as suitable for “conservative investors” preferring “stable, predictable businesses,” noting it operates in a commoditized segment unlike higher-profile IPOs opening alongside it.
Published on December 3, 2025
