Plaza Wires Ltd IPO

About Plaza Wires Ltd

Plaza Wires Limited was originally incorporated as `Navratna Wires Private Limited' as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated August 23, 2006 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Pursuant to a special resolution passed by the shareholders of the Company at the extra-ordinary general meeting held on October 10, 2007, the name of the Company was changed to Plaza General Cable Wire Private Limited and a fresh certificate of incorporation dated October 26, 2007 was issued to the Company by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Pursuant to a special resolution passed by the shareholders of the Company on December 26, 2008, the name of the Company was changed to 'Plaza Wires Private Limited', and a fresh Certificate of Incorporation reflecting the new name was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana on February 06, 2009. Thereafter, the Company was converted to a public limited company, pursuant to a special resolution passed by its shareholders on December 29, 2021 and the name of the Company was changed to 'Plaza Wires Limited' and a fresh certificate of incorporation dated March 10, 2022 was issued to the Company by the Registrar of Companies, Delhi.

Global Economic growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024. While the forecast for May 2023 is modestly higher than predicted in the April 2023 World Economic Outlook (WEO), it remains weak by historical standards. The rise in central bank policy rates to fight inflation continues to weigh on economic activity. Global headline inflation is expected to fall from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024. Underlying (core) inflation is projected to decline more gradually, and forecasts for inflation in 2024 have been revised upward. The C&W industry is expected to grow to Rs.1,033bn in FY23, boosted by increased infra spends by the government. Demand for building wires and power cables would be spurred by government schemes such as Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya scheme) and Power for All, focusing on electrification of rural households and Transmission & Distribution efficiencies, as well as an increase in cabling demand from commercial establishments and public utilities. Growth in Renewable energy capacities will drive demand for solar cables and elastomeric cables used in windmill applications. In Tier I cities, increase in demand and the lack of open spaces to setup towers, coupled with rising demand from infra projects like metro has swelled the demand for Extra High Voltage (EHV) underground cables.

Plaza Wires Limited is an ISO 9001:2015 and 14001:2015 certified company engaged in the business of manufacturing and selling of wires, and selling and marketing of LT aluminium cables and fast moving electrical goods under its flagship brand PLAZA CABLES and home brands such as Action Wires and PCG. In 2021, the company launched a line of house wire under the brand Action Wires for product at economical price range. Its product mix comprises different type of wires and cables, and fast moving electrical goods such as electric fans, water heaters, switches and switchgears, Poly Vinyl Chloride insulated electrical tape and Poly Vinyl Chloride conduit pipe & accessories.

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