Vidya Wires shares make quiet debut; list at par versus IPO price

Shares of Vidya Wires made a flat market debut today, despite the company's ₹300-crore initial public offering attracting strong demand and closing 26.59 times subscribed on the final day.

The stock listed at par at ₹52 per share — its IPO price — on the NSE. On the BSE, it opened slightly higher at ₹52.13.

The issue was fully subscribed within hours of opening on Wednesday and closed the first day with 2.89 times subscription. Ahead of the listing, grey-market indicators showed the shares commanding a premium of around 7%.

Vidya Wires had raised ₹90 crore from anchor investors before the IPO opened for public subscription. The anchor book saw participation from prominent institutions including Bandhan MF, LIC MF, Bank of India MF, Maybank Securities, Alchemy Emerging Leaders of Tomorrow Series 2 and the MAIQ Growth Scheme.

The IPO was open from December 3 to 5 in a price band of ₹48-52 per share.

The public offer comprised a fresh issue of ₹274 crore and an offer for sale of 50.01 lakh shares worth ₹26 crore.

The company intends to use the proceeds for capex at subsidiary ALCU, debt repayment and general corporate purposes.

Vidya Wires is one of India's largest producers of winding and conductivity products used across energy generation and transmission, electrical systems, motors, clean energy, electric mobility and railways. Its product portfolio includes enameled wires, paper-insulated copper conductors, rectangular copper strips, copper busbars, specialised winding wires, PV ribbon and aluminium paper-covered strips.