New Delhi: Bansal Wire IPO will open for subscription on Wednesday, July 3, 2024, with 29,101,562 shares worth Rs 745 crore on offer in what is entirely an offer for sale by promoters. The wire maker manufactures for the automotive industry.
Bansal Wire IPO GMP
Bansal Wire IPO GMP stood at Rs 65 per share on Monday, indicating a listing price of Rs 321 per share.
Grey Market Premium (GMP) is the premium that investors are willing to pay to acquire a company’s share.
The GMP represents an over 23 per cent premium over the upper IPO price limit of Rs 256 per share.
Bansal Wire IPO’s minimum lot size stood at 58 shares for retail investors worth Rs 14,848.
Bansal Wire IPO allotment date
Bansal Wire IPO allotment date has been set for July 8, 2024. Refunds for non-allotted bids will be processed on July 9, 2024. Bansal Wire IPO shares will be credited to accounts on July 9, 2024.
Bansal Wire IPO will list on July 9, 2024, on the BSE and NSE.
The Rs 745 crore IPO carries a price band of Rs 243-256 per share.
Bansal Wire is one of the largest steel wire manufacturers with product uses in the automotive industry.
It specialises in carbon, mild, and stainless steel wires.
The company reported a full-year 2023 net profit of Rs 59.93 crore compared to Rs 57.29 crore in the year-ago period. Bansal Wire reported revenues worth Rs 749.05 crore in the period ending March 31, 2023, compared to Rs 695.48 crore in the year-ago period.
The company aims to use the IPO proceeds towards repayment of existing loans, to supplement its owrking capital needs and for general corporate uses.
The company produces 72,176 million tonnes per annum of steel wires making it India’second largest manufacturer of steel wires.
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Bansal Wire IPO GMP: The steel wire maker’s IPO opens for subscription on July, 3, 2024. Check GMP, key dates and more. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
