Plaza Wires IPO has offered good returns to investors as the stock has listed on the exchanges with 56 percent premium to issue price. Plaza Wires issued shares at Rs 54 and the stock listed on the exchange at Rs 84. In the grey market, the stock was enjoying a premium of Rs 23 to issue price.

Market experts were expecting a listing at Rs 77 for Plaza Wires. The IPO received strong subscription. In the retail investor segment, the IPO was oversubscribed by 374 times the allocated shares. The issue has been termed as the most oversubscribed IPO in the recent times. The overall oversubscription was 160 times the number of shares offered by the company.

Compared to strong investor interest, the stock has not listed as strong on the markets. Still, investors will enjoy strong returns at current levels.

The business is showing strong growth but it could face risks associated with higher raw material costs. The company operates through 1,249 authorised dealers and distributors across India and with the IPO proceeds, it will invest in future growth.