Vidya Wires Aims High with Rs 320 Crore IPO Launch

Vidya Wires, a leading manufacturer of winding and conductivity products, has filed draft papers with capital markets regulator Sebi for an IPO. The move aims at raising up to Rs 320 crore through fresh equity shares and an additional offer for sale. Proceeds will fund new projects at subsidiary ALCU, debt payment, and corporate needs.

Vidya Wires, a prominent player in the winding and conductivity products industry, has submitted draft papers to the Securities and Exchange Board of India (Sebi) for an Initial Public Offering (IPO) aimed at raising capital.

The planned IPO includes the fresh issuance of equity shares totalling Rs 320 crore and an offer for sale by promoters, enhancing the company's financial landscape.

Funds generated from this initiative will be allocated to capital expenditure for subsidiary ALCU's new projects, debt repayment, and general corporate activities, marking a significant step forward for Vidya Wires.

(With inputs from agencies.)