Bansal Wire IPO opens for subscription on July 3, 2024 and closes on July 5, 2024. IPO price band is set at Rs 243 to Rs 256 per share. The minimum lot size for an application is 58 Shares. The minimum amount of investment required by retail investors is Rs 14,848. The minimum lot size investment for NII is 14 lots (812 shares), amounting to Rs 207,872, and for NII, it is 68 lots (3,944 shares), amounting to Rs 1,009,664. IPO is a book built issue of Rs 745 crore. The issue is entirely a fresh issue of 2.91 crore shares. The allotment is expected to be finalized on Monday, July 8, 2024. IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, July 10, 2024. The Company proposes to utilise net proceeds from fresh issue of Equity Shares towards Repayment or prepayment of all or a portion of certain outstanding borrowings availed by Company estimated to Rs 4526.83 million; Investment in Subsidiary for repayment or prepayment of all or a portion of certain of its outstanding borrowings estimated to Rs 937.08 million; Funding the working capital requirements of Company estimated to Rs 600 million and General corporate purposes.
- Issue Opens: July 3, 2024
- Issue Closes: July 5, 2024
- Face Value: Rs 5 each
- Price Band: Rs 243 to Rs 256 per share
- Lot Size: 58 Shares
- Listing On: BSE & NSE
- Basis of Allotment: July 8, 2024
- Initiation of Refund: July 9, 2024
- Credit to Demat: July 9, 2024
- Listing Date: Tuesday, July 10, 2024
Bansal Wire Industries Limited is a stainless steel wire manufacturing company which operates in three main segments: high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. The company makes over 3,000 different types of steel wire products, ranging in size from very thin to very thick. The company has a presence across India and operates in over 50 countries through product exports, solidifying its position as a key player in the global market.
The company exports products to over 50 countries. It has 14 global representatives covering Bangladesh, Brazil, France, Germany, Israel, Italy, Netherlands, South Korea, South Africa, Sri Lanka, Turkey, the United Kingdom, the United States, and Vietnam. Export turnover has grown at a CAGR of 47.15% in the last three fiscal years. The company has four manufacturing units in Mohan Nagar, Ghaziabad, Loni Industrial Area, Ghaziabad and Bahadurgarh, Jhajjar, Haryana. Out of four units two are located in Loni Industrial Area, Ghaziabad.
