New Delhi: Bansal Wire IPO subscription opens today Wednesday, July 3, 2024, with 29,101,562 shares worth Rs 745 crore on offer. Bansal Wire IPO price range has been fixed at RS 243-256 per share. The IPO is entirely composed of freshly issued shares.
Bansal Wire IPO has reserved 50 per cent of the total shares on offer for qualified institutional buyers (QIBs). Retail investors can bid for 35 per cent of the shares on offer followed by 15 per cent shares for non-institutional investors. Established in 1985, Bansal Wire is India’s largest producer of stainless steel wires. The company is India’s second largest steel wire manufacturer.
Bansal Wire IPO GMP
Bansal Wire IPO GMP stood at Rs 66 apiece, indicating a listing price of RS 332 apiece, an over 25 per cent premium over the upper end of the IPO price band of Rs 256 apiece. Grey market premium is the extra amount investors are willing to pay to acquire a company’s stock. Bansal Wire IPO’s minimum lot size is 58 shares worth Rs 14,848.
Bansal Wire IPO key dates
Bansal Wire IPO opens for subscription on July 3, 2024, and closes on July 5, 2024. Bansal Wire IPO allotment date is July 8, 2024. The refund date for unallocated bids is July 9, 2024. Alloted shares will be credited to the demat account by July 9, 2024.
Bansal Wire IPO’s listing date is July 10, 2024.
The company reported a 1.99 per cent jump in revenues to Rs 2,470 crore in the period ending March 31, 2024, compared to Rs 2,422.57 crore a year ago. The profit after tax rose 31.48 per cent to Rs 78.80 crore during the same period compared to Rs 59.93 crore a year ago.
Bansal Wire IPO book-running lead managers are SBI Capital Markets and DAM Capital Advisors while Kfin Technologies is acting as registrar on the issue.
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Bansal Wire IPO subscription opens today: The Rs 745 crore IPO of wires manufacturer Bansal Wire opens for subscription on Wednesday. Check GMP, key dates and other details. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
