As 2025 draws to a close, the primary market continues to attract investor interest, particularly in companies linked to power, electrification, and clean energy ecosystems. Against this backdrop, Vidya Wires Ltd, a long-established manufacturer of copper and aluminium wires and winding products, is launching its IPO on December 3, 2025.
Here is a detailed look at Vidya Wires, its IPO structure, financial performance, and sector outlook.
About Vidya Wires Ltd.
Incorporated in 1981, Vidya Wires Limited is engaged in the manufacture of copper and aluminium winding and conductivity products. Its portfolio serves a wide range of applications across energy generation, electrical systems, railways, clean energy, and electric mobility.
The company manufactures more than 8,000 SKUs, with product sizes ranging from 0.07 mm to 25 mm, and plans to further expand into higher-value offerings such as copper foils, solar cables, and aluminium winding wires.
Key products include:
- Enamelled copper winding wires
- Enamelled copper rectangular strips
- Fibre glass-covered copper and aluminium conductors
- Paper-insulated copper and aluminium conductors (rectangular and round)
- Twin and triple-bunched paper-insulated copper strips
- Cotton-covered ropes
- PV ribbon and PV bus bar
- Copper busbars
Vidya Wires has expanded its manufacturing capacity to 19,680 MTPA and plans to increase this to 37,680 MTPA through an additional 18,000 MTPA unit at Narsanda, Gujarat.
As of November 14, 2025, the company employs 139 permanent employees and over 394 contract labourers.
Promoters:
- Shyamsundar Rathi
- Shailesh Rathi
- Shilpa Rathi
Vidya Wires IPO Details
The Vidya Wires IPO is a book-built issue aggregating up to ₹300.01 crore. It comprises both a fresh issue and an offer for sale (OFS) and will be listed on BSE and NSE.
Important IPO Timeline
| Application | Dates |
| IPO Open Date | December 3, 2025 |
| IPO Close Date | December 5, 2025 |
| Allotment Date (Tentative) | December 8, 2025 |
| Initiation of Refunds | December 9, 2025 |
| Credit of Shares to Demat | December 9, 2025 |
| Listing Date (Tentative) | December 10, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 5, 2025 |
Key IPO Details
Here is the table on the Vidya Wires IPO Review:
| IPO Date | December 3, 2025 to December 5, 2025 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹48 to ₹52 per share |
| Lot Size | 288 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 5,76,93,307 shares (aggregating up to ₹300.01 Cr) |
| Fresh Issue | 5,26,92,307 shares (aggregating up to ₹274.00 Cr) |
| Offer for Sale | 50,01,000 shares of ₹1 (aggregating up to ₹26.01 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 16,00,00,000 shares |
| Shareholding Post Issue | 21,26,92,307 shares |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Book Running Lead Manager | Pantomath Capital Advisors Pvt. Ltd. |
Vidya Wires IPO Reservation
- QIB Shares: Not more than 50% of the net offer
- Retail Shares: Not less than 35% of the net offer
- NII Shares: Not less than 15% of the net offer
Lot Size of Vidya Wires IPO
Investors can bid for a minimum of 288 shares and in multiples of 288 thereafter.
Here is the table of lot sizes for each category of investors:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 288 | ₹14,976 |
| Retail (Max) | 13 | 3,744 | ₹1,94,688 |
| S-HNI (Min) | 14 | 4,032 | ₹2,09,664 |
| S-HNI (Max) | 66 | 19,008 | ₹9,88,416 |
| B-HNI (Min) | 67 | 19,296 | ₹10,03,392 |
Vidya Wires Ltd. Financials
Market Capitalisation (at issue terms): ₹1,106.00 crore
Key Performance Indicators (as of March 31, 2025)
| KPI | Value |
| ROE | 24.57% |
| ROCE | 19.72% |
| Debt/Equity | 0.88 |
| RoNW | 24.57% |
| PAT Margin | 2.74% |
| EBITDA Margin | 4.32% |
| Price to Book | 6.62 |
EPS & P/E Ratio
| Pre IPO | Post IPO | |
| EPS (₹) | 2.55 | 2.27 |
| P/E (x) | 20.36 | 22.94 |
Key Company Financials
Vidya Wires has reported steady growth in both revenue and profitability for the periods reported.
Vidya Wires Ltd. Financial Information (Restated Consolidated, ₹ in Crore):
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 376.93 | 331.33 | 247.84 | 209.08 |
| Total Income | 413.09 | 1,491.45 | 1,188.49 | 1,015.72 |
| Profit After Tax | 12.06 | 40.87 | 25.68 | 21.53 |
| EBITDA | 18.67 | 64.22 | 45.52 | 35.84 |
| Net Worth | 178.37 | 166.36 | 125.54 | 100.11 |
| Reserves & Surplus | 162.37 | 150.36 | 121.54 | 95.86 |
| Total Borrowing | 162.75 | 145.63 | 109.71 | 97.11 |
Promoter Holding:
- Pre-issue: 99.91%
- Post-issue: NA
Objects of the Issue
The Company proposes to utilise the net proceeds from the issue towards the following:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | Funding capital expenditure requirements for setting up a new project in subsidiary ALCU | 140.00 |
| 2 | Repayment or prepayment, in full or in part, of certain outstanding borrowings | 100.00 |
| 3 | General corporate purposes | Balance |
Vidya Wires Ltd.: Industry Outlook
- Power and electrification: Growing investments in transmission, distribution, and renewables support demand for high-quality copper and aluminium conductors and winding wires.
- Clean energy and EV ecosystem: Electric mobility, solar installations, and energy-efficient electrical equipment rely on reliable conductivity products, where Vidya Wires’ offerings are directly relevant.
- Diversified end-use industries: With presence across energy, railways, industrial motors, transformers, and clean energy, the company benefits from a de-risked demand profile.
- Capacity expansion: Planned capacity enhancement at Narsanda positions Vidya Wires to capture incremental demand from existing and new customers.
Vidya Wires IPO: Peer Comparison
Vidya Wires IPO can be compared with peers such as Ram Ratna Wires Ltd, Precision Wires India Ltd, Shivalik Bimetal Controls Ltd, Salzer Electronics Ltd, and RR Kabel Ltd. Reviewing these companies gives investors a clearer understanding of Vidya Wires’ position in the electrical conductors and winding wires segment, helping them assess competitiveness, scalability, and industry standing before making an informed investment decision.
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Conclusion
Vidya Wires Ltd. offers investors an opportunity to participate in a four-decade-old manufacturer of winding and conductivity products with a broad product portfolio and diversified customer base. The company has shown steady growth in revenue and profitability, is investing in capacity expansion, and maintains a de-risked model by serving multiple industries.
Based on recent financials, the issue appears reasonably priced relative to its growth trajectory, but investors should also be mindful of factors such as thin margins, capital intensity, and leverage. Those with a medium to long-term horizon who are constructive on the power and electrification theme may consider evaluating the Vidya Wires IPO in that context.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
