For investors, deciding whether the Vidya Wires IPO is a good investment can be quite challenging. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we present the top key factors and a detailed review of the Vidya Wires IPO. This will help you analyze the strengths, risks, and financial details of the Vidya Wires IPO, making your investment decision better.
About Company
Vidya Wires Limited, which started in 1981, is one of the growing enterprises that makes copper and aluminum wires. Its product portfolio consists of a wide range of products such as precision-engineered Enameled Wires, Enameled Copper Rectangular Strips, Paper Insulated Copper Conductors, Copper Busbar and Bare Copper Conductors, Specialised Winding Wires, PV Ribbon, and Aluminum Paper Covered Strips used in many industries and applications.
The company’s products are known for providing conductivity, durability, and thermal efficiency for high-performance operations. The business includes 133 permanent employees and over 385 contract labourers. Their products are utilized in key applications like energy generation, electrical systems, electric mobility, railways, and clean energy. Spanning from 0.07 mm to 25 mm, Vidya wires make over 6400 types of winding and conductivity products, and are soon planning to expand by adding new items such as copper foils, solar cables, and aluminum winding wires.
Strengths
- Vidya Wires is among the top 5 manufacturers of electrical wires in India.
- It is a low-risk business supported by a large customer base, a wide product range, and a network of users.
- Over the last 40 years, the company has shown Consistent financial growth.
- Its manufacturing facility is located at Anand, Gujarat, giving it easy access to major seaports like Hazira and Mundra to easily import and export raw materials.
- The company has little to no debt remaining.
Weaknesses
- Over 80% of revenue comes from the various sectors like power & transmission, general engineering, and electrical industries. Meaning any showdown that happens in these industries can badly affect the business and financial condition.
- Any sudden increase in the price of raw material, or delay or shortage in the supply of raw material, can negatively impact the business, overall performance, and cash flow.
- The company’s 93% of the revenue comes from copper-based products. If any drop happens in the demand of copper-based products could affect the business, financial health, and overall performance.
- In the past, the company has witnessed negative cash flow. If it continued to do so could badly affect the business, cash flow, and financial condition.
Vidya Wires IPO Review
| Reviewer | Recommendation |
| IPO Watch | May Apply |
| Kunvarji Finstock Pvt Ltd | Apply |
| Lakshmishree Investment & Securities Ltd | Apply |
| Anand Rathi | Apply |
| Arihant Capital Markets Ltd | Apply |
| Asit C. Mehta Investment Intermediates Ltd | Not Rated |
| Canara Bank Securities Ltd | Apply |
| Capital Market | May Apply |
| IDBI Capital | Not Rated |
| JM Financial Services Limited (JMFS) | Not Rated |
| SBICAP Securities Limited | Apply |
| Swastika Investmart Ltd | Apply |
| Ventura Securities Limited | Apply |
Vidya Wires IPO Details
| IPO Open Date: | December 3, 2025 |
| IPO Close Date: | December 5, 2025 |
| Face Value: | ₹1 Per Equity Share |
| IPO Price Band: | ₹48 to ₹52 Per Share |
| Issue Size: | ₹300.01 Crores |
| Fresh Issue | ₹274 Crores |
| Offer-for-Sale | Up to 50,01,000 equity shares |
| Registrar | MUFG Intime India Pvt. Ltd. |
| IPO Lead Managers | Pantomath Capital Advisors Pvt. Ltd IDBI Capital Markets Services Ltd. |
| Basis of Allotment | December 8, 2025 |
| IPO Listing Date: | December 10, 2025 |
| Listing | BSE, NSE |
Financial Performance Trend Details
| Particulars | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Total Income | ₹413.09 Crores | ₹1,491.45 Crores | ₹1,188.49 Crores |
| EBITDA | ₹18.67 Crores | ₹64.22 Crores | ₹45.52 Crores |
| EBITDA Margin | 4.53% | 4.32% | 3.84% |
| Profit after Tax (PAT) | ₹12.06 Crores | ₹40.87 Crores | ₹25.68 Crores |
| PAT Margin | 2.92% | 2.74% | 2.16% |
| Net Worth | ₹178.37 Crores | ₹166.36 Crores | ₹125.54 Crores |
| Reserves and Surplus | ₹162.37 Crores | ₹150.36 Crores | ₹121.54 Crores |
| Total Borrowings | ₹162.75 Crores | ₹145.63 Crores | ₹109.71 Crores |
Key Indicators
| KPI | Values |
| ROE | 24.57% |
| ROCE | 19.72% |
| Debt/Equity | 0.88 |
| Price to Book Value | 6.62 |
| Market Capitalization | ₹1,106.00 Cr. |
| RoNW | 24.57% |
| EBITDA Margin | 4.32% |
Peer Comparison With the Company
| Name of the Company | Face Value (₹) | EPS (₹) | RONW (%) | P/E Ratio | NAV(₹) |
| Vidya Wires | 1 | 2.55 | 24.57 | [●] | 10.40 |
| Precision Wires India Limited | 1 | 5.04 | 15.63 | 53.45 | 32.25 |
| Ram Ratna Wires Limited | 5 | 15.04 | 14.39 | 42.19 | 110.74 |
| Apar Industries Limited | 10 | 204.47 | 18.24 | 44.36 | 1,121.17 |
Promoters & Track Records, if any
- Shyamsundar Rathi, aged 76 years, is one of the promoters and is also the Chairman and Whole Time Director. He holds 71,010,000 Equity shares, representing 44.38% of the Pre-Offer shareholding in the company.
- Shailesh Rathi, aged 51 years, is one of the promoters and is also the Managing Director of the Company. He holds 75,990,000 shares, representing 47.49% of the Pre-Offer shareholding in the company.
- Shilpa Rathi, aged 50 years, is one of the Promoters and also the Whole Time Director of the Company. She holds 460,000 Equity shares, representing 0.29% of the Pre-Offer shareholding in the company.
Industry Peer Group P/E ratio
Within the wires and conductors industry peer group, the highest P/E ratio is 53.45 for Precision Wires India Limited, while the lowest is 42.19 for Ram Ratna Wires Limited, with an average P/E ratio of 47.82.
Expansion
- The proceeds raised from the fresh issue will be used towards setting up a new project in their subsidiary, viz. ALCU.
- A portion of the funds will be utilized for the repayment/prepayment of the old existing borrowings taken by the company.
- Lastly, the remaining funds will be used for the company’s general corporate purposes.
Vidya Wires IPO – Should You Apply or Not?
Vidya Wires IPO offers a strong Industry demand in the electrical and industrial manufacturing space, with a diversified product line and good relationships with customers. Growing demand in the power, EV, renewable energy, and infrastructure sectors is helping the company to drive growth. However, high dependence on Copper prices, moderate profit margins, and intense competition are some of the key concerns of the company.
As of December 3, the GMP of the Vidya Wires IPO is ₹6, indicating a listing gain of around 18% to 20%. Short-term investors can apply for the IPO for listing gain, given the positive market sentiment and attractive GMP. Long-term investors must analyze risks like fluctuation in raw materials and industry competition before subscribing.
Please note:
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
