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Vidya Wires IPO
Vidya Wires Ltd
₹13,824 /288 sharesMinimum Investment
Vidya Wires IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 3 Dec ‘25 - 5 Dec ‘25 | ₹13,824 | 288 | ₹48 - ₹52 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 300.01 Cr | RHP PDF | 08 Dec ‘25 | 10 Dec ‘25 |
| Face value |
|---|
| 1 |
About Vidya Wires
Founded in
1981
MD/CEO
Mr Shailesh Rathi
Parent organisation
Vidya Wires Ltd
Strengths & Risks of Vidya Wires
Strengths
Risks
Vidya Wires claims to be the fourth-largest manufacturer in the Indian winding and conductivity products industry, with an installed capacity of 19,680 metric tonnes (MT) per annum.
The company manufactures over 8,000 stock-keeping units (SKUs) of winding and conductivity products, catering to multiple industries such as power and transmission, automotive, renewables, and electrical systems. Vidya Wires claims to serve more than 318 customers in India and abroad, ensuring no single customer contributes over 9 percent of its annual revenue.
Vidya Wires claims to have backward integrated its operations to produce oxygen-free copper rods from copper cathodes, fulfilling 35 to 40 percent of its internal copper rod requirements. Its manufacturing facilities are ISO 9001:2015 certified for quality management systems, ISO 45001:2018 certified for occupational health and safety, and ISO 14001:2015 certified for environmental management systems. The company further claims to source part of its power from renewable energy sources such as solar and wind.
The company’s operations are based in Anand, Gujarat, which provides access to major ports such as Hazira and Mundra for import and export activities. Vidya Wires claims that its proximity to resource-producing regions like Gujarat and Maharashtra offers logistical and raw material sourcing advantages.
Vidya Wires claims to have long-standing relationships with reputed customers such as Adani Wilmar Limited, Schneider Electric Infrastructure Limited, and Suzlon Energy Limited, among others. The company also claims to maintain supplier partnerships with Vedanta Limited, Hindalco Industries Ltd, and Union Copper Rod LLC, some of which span over a decade.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 1,011.43 crore in FY23 to Rs 1,186.07 crore in FY24 and Rs 1,486.39 crore in FY25. PAT increased from Rs 21.50 crore in FY23 to Rs 25.69 crore in FY24 and Rs 40.87 crore in FY25.
The power and transmission industry accounted for Rs 201.07 crore (48.83 percent) of the company’s revenue for the period ended June 30, 2025; Rs 714.33 crore (48.06 percent) in FY25; Rs 510.51 crore (43.04 percent) in FY24; and Rs 469.03 crore (46.37 percent) in FY23. Any slowdown or reduced demand in this sector can adversely affect the company’s business and financial performance.
Copper rod and cathode form the largest component of Vidya Wires’ raw material costs. They accounted for Rs 366.62 crore (92.09 percent) of the company’s total purchases for the period ended June 30, 2025; Rs 1,298.74 crore (93.87 percent) in FY25; Rs 1,083.43 crore (96.51 percent) in FY24; and Rs 912.75 crore (96.19 percent) in FY23. Since the prices of copper are linked to international indices such as the London Metal Exchange, any fluctuation or supply disruption could impact production costs, timelines, and profitability.
Vidya Wires sources materials from domestic suppliers mainly in Gujarat, and international suppliers mainly in Japan. Gujarat accounted for Rs 142.12 crore (80.60 percent) of the company’s total purchases for the period ended June 30, 2025; Rs 549.12 crore (70.47 percent) in FY25; Rs 541.35 crore (87.05 percent) in FY24; and Rs 546.44 crore (81.92 percent) in FY23. Japan accounted for Rs 138.33 crore (62.37 percent) of the company’s total purchases in the period ended June 30, 2025; Rs 344.48 crore (57.01 percent) in FY25; Rs 409.48 crore (81.78 percent) in FY24; and Rs 188.54 crore (66.91 percent) in FY23. Any interruption in the availability or transportation of these materials, or volatility in global commodity and currency markets, can adversely affect the company’s business operations and financial results.
The company reported negative cash flow from operating activities amounting to Rs 3.71 crore for the period ended June 30, 2025, and Rs 16.84 crore in FY25. Additionally, negative cash flow from investing activities amounted to Rs 9.56 crore for the period ended June 30, 2025, Rs 7.54 crore in FY25, Rs 3.68 crore in FY24, and Rs 5.65 crore in FY23. Furthermore, the company reported negative cash flow from financing activities amounting to Rs 31.84 crore in FY23. Sustained or recurring negative cash flows may limit the company’s ability to fund its working capital needs, pursue expansion plans, or service existing financial obligations.
Vidya Wires’ business is primarily driven by copper-based products. They accounted for Rs 382.13 crore (93.27 percent) of the company’s total revenue from the sale of products for the period ended June 30, 2025; Rs 1,379.02 crore (93.18 percent) in FY25; Rs 1,118.68 crore (94.73 percent) in FY24; Rs 971.14 crore (96.29 percent) in FY23. Any decline in demand or adverse changes in the copper products market could impact sales, margins, and overall business performance.
The top supplier (Marubeni Corporation) accounted for Rs 138.33 crore (34.75 percent) of the company’s total purchases for the period ended June 30, 2025; Rs 518.07 crore (37.45 percent) in FY25; Rs 433.99 crore (38.66 percent) in FY24; and Rs 401.52 crore (42.32 percent) in FY23. Any dispute, delay, or disruption in supplies from this key vendor could adversely impact the company’s production, cost structure, and overall business operations.
The country’s western region accounted for Rs 291.40 crore (80.15 percent) of the company’s domestic revenue for the period ended June 30, 2025; Rs 1,056.94 crore (82.69 percent) in FY25; Rs 838.93 crore (82.32 percent) in FY24; and Rs 690.88 crore (84.07 percent) in FY23. Any political, social, or economic disturbances in this region, or disruptions in logistics and industrial operations in western India, can negatively affect the company’s sales performance and financial stability.
The company and its promoters are involved in certain ongoing legal proceedings, including criminal and tax-related cases. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of November 14, 2025, the company had outstanding financial indebtedness of Rs 206.14 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Vidya Wires Financials
*All values are in Rs. Cr
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Application Details of Vidya Wires IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Regular | ₹48 - 52 | Upto ₹2 Lakh | 288 |
| High Networth Individual | ₹48 - 52 | ₹2 - 5 Lakh | 288 |
For Vidya Wires IPO, eligible investors can apply as Regular.