Plaza Wires to Expand its Manufacturing in Himachal Pradesh
Plaza Wires Limited will be setting up a new manufacturing unit at its existing plant in Barotiwala in Baddi, Himachal Pradesh.
As per the company’s stock filing dated 21st January 2025, this plant has ‘almost been set up’ and the company is expected to start commercial operations in ‘near future’. The company has already installed machinery at this new unit and started trials and final testing before the commencement of commercial operations.
In October 2023, Plaza Wires rolled out its Initial Public Offering (IPO). The company’s Red Herring Prospectus (RHP) for the IPO specified that major part of the fund would be used towards capacity expansion. The company mentioned an investment of Rs. 22.41 crore for setting up a new manufacturing unit. However, the company did not provide any further details about this expansion.
Plaza Wires, founded in 2006, manufactures wires, cables and Fast Moving Electrical Goods (FMEG). The company’s products include industrical cables, house wires and Low Tension (LT) aluminium products.
