New Delhi: Bansal Wire Industries IPO opened for bidding for anchor investors on July 2, 2024, i.e. on Tuesday. The public offer of the Steel and wire manufacturer will be open for public subscription during July 3-5. The company has fixed a price band of Rs 243 to Rs 256 per share for its Rs 745-crore initial public offering.
The Bansal Wire IPO is an entirely fresh issue of equity shares worth Rs 745 crore, with no offer-for-sale (OFS) component. The retail investors are required to bid for a minimum lot size for an application of 58 shares. The minimum amount required by retail investors for investment is Rs 14,848. Fifty per cent of the IPO is reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. The minimum lot size investment for sNII is 14 lots, and bNIIs are allowed to bid for 68 lots.
Bansal Wire IPO GMP today
As per Chittorgarh.com, the shares of Bansal Wire and Industries were trading at a premium of Rs 65 in the grey market. As per the latest information available, Bansal Wire IPO GMP stood at Rs 65 on July 2 morning. As of now, shares of the stainless steel wire manufacturing company are expected to be listed at around Rs 321. The grey market price is an unofficial indication which gives an idea to gauge the anticipated listing price of the stock.
Bansal Wire IPO allotment, listing
The shares of Bansal Wire IPO are expected to be allotted on July 8, 2024, while the process to initiate refunds to unsuccessful investors may start on July 9. The shares are likely to be credited to the demat accounts of eligible investors on July 9 and the stock would be listed on BSE and NSE tentatively on July 10.
SBI Capital Markets and DAM Capital Advisors are the book running lead managers to the issue. Kfin Technologies Limited is the registrar for the issue.
Bansal Wire Industries business
The Bansal Wire Industries has said that the funds collected from the public offer will be used for the payment of debt and to support the working capital requirements of the company. Incorporated in December 1985, the company is engaged in the business of manufacturing and exporting steel wires. Its main areas are manufacturing of high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire.
The company is all set to launch a new wire product at its upcoming plant in Dadri, which will help it grow and expand its market presence in the upcoming fiscals.
Bansal Wire financials
Bansal Wire Industries reported its total income spiked at a CAGR of 28 per cent to Rs 2,422.56 crore in 2023-24 from Rs 1,480.41 crore in fiscal 2021. The Profit After Tax (PAT) increased at a compound annual growth rate (CAGR) of 21.7 per cent to Rs 59.93 crore in fiscal 2023.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Bansal Wire Industries IPO opens for subscription on July 3 and ends on 5th July. The Bansal Wire IPO GMP stood at Rs 65 on the morning of July 2. The price is fixed in the range of Rs 243 to Rs 256 per share. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
