Vidya Wires Ltd IPO
Capital Goods - Electrical Equipment
Price Band
₹48 – ₹52
Lot Size
288
Minimum Bid Quantity
288
Minimum Investment
₹14976
Issue Size
₹300.01Cr
Opens
2025-12-03
Closes
2025-12-05
Listing
10-12-2025
Subscription Status
Qualified Institutional Buyers
5.12 x
Non-Institutional Investor
51.88 x
Retail Individual Investor
27.04 x
Total
26.16 x
IPO Details
Issue Type
EQUITY
Face Value
₹1
Tick Size
1
ISIN
INE14UN01029
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Vidya Wires is engaged in the manufacturing of winding and conductivity products used across industries such as energy generation and transmission, electrical systems, clean energy, electric mobility, and railways. Its product portfolio includes enamelled wires, copper rectangular strips, paper-insulated copper conductors, copper busbars, bare copper conductors, PV ribbons, and aluminium paper-covered strips, among others. The company’s products are sold in India and internationally across 18 countries, supported by long-term relationships with both customers and raw material suppliers. The company operates manufacturing facilities in Anand, Gujarat, with proximity to seaports such as Hazira and Mundra for import and export operations. Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Capital expenditure requirements for setting up a new project in the company’s subsidiary, viz. ALCU—approximately Rs 140.5 crore. Repayment/prepayment, in full or part, of all or certain outstanding borrowings availed by the company—approximately Rs 100 crore. General corporate purposes.
Pros
- • Vidya Wires claims to be the fourth-largest manufacturer in the Indian winding and conductivity products industry, with an installed capacity of 19,680 metric tonnes (MT) per annum.
- • The company manufactures over 8,000 stock-keeping units (SKUs) of winding and conductivity products, catering to multiple industries such as power and transmission, automotive, renewables, and electrical systems. Vidya Wires claims to serve more than 318 customers in India and abroad, ensuring no single customer contributes over 9 percent of its annual revenue.
- • Vidya Wires claims to have backward integrated its operations to produce oxygen-free copper rods from copper cathodes, fulfilling 35 to 40 percent of its internal copper rod requirements. Its manufacturing facilities are ISO 9001:2015 certified for quality management systems, ISO 45001:2018 certified for occupational health and safety, and ISO 14001:2015 certified for environmental management systems. The company further claims to source part of its power from renewable energy sources such as solar and wind.
Cons
- • The power and transmission industry accounted for Rs 201.07 crore (48.83 percent) of the company’s revenue for the period ended June 30, 2025; Rs 714.33 crore (48.06 percent) in FY25; Rs 510.51 crore (43.04 percent) in FY24; and Rs 469.03 crore (46.37 percent) in FY23. Any slowdown or reduced demand in this sector can adversely affect the company’s business and financial performance.
- • Copper rod and cathode form the largest component of Vidya Wires’ raw material costs. They accounted for Rs 366.62 crore (92.09 percent) of the company’s total purchases for the period ended June 30, 2025; Rs 1,298.74 crore (93.87 percent) in FY25; Rs 1,083.43 crore (96.51 percent) in FY24; and Rs 912.75 crore (96.19 percent) in FY23. Since the prices of copper are linked to international indices such as the London Metal Exchange, any fluctuation or supply disruption could impact production costs, timelines, and profitability.
- • Vidya Wires sources materials from domestic suppliers mainly in Gujarat, and international suppliers mainly in Japan. Gujarat accounted for Rs 142.12 crore (80.60 percent) of the company’s total purchases for the period ended June 30, 2025; Rs 549.12 crore (70.47 percent) in FY25; Rs 541.35 crore (87.05 percent) in FY24; and Rs 546.44 crore (81.92 percent) in FY23. Japan accounted for Rs 138.33 crore (62.37 percent) of the company’s total purchases in the period ended June 30, 2025; Rs 344.48 crore (57.01 percent) in FY25; Rs 409.48 crore (81.78 percent) in FY24; and Rs 188.54 crore (66.91 percent) in FY23. Any interruption in the availability or transportation of these materials, or volatility in global commodity and currency markets, can adversely affect the company’s business operations and financial results.
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