Bansal Wire IPO: The IPO of stainless steel wire company Bansal Wire Industries is about to be launched. The company said that Rs. 745 crore for the initial public offering (IPO), with a price band of Rs. 243-256 per share has been fixed. Let us tell you that this IPO will open on July 3 and close on July 5. Bidding for anchor investors will open on July 2.
Fresh Issue IPO
The company’s IPO is a completely new issue and does not involve any form of offer for sale (OFS). Investors can apply for a minimum of 58 equity shares. In such a situation, investors have to bid a lot of at least Rs 14,848. Let us inform you that SBI Capital Markets and DAM Capital Advisors (formerly IDFC Securities) are the book running lead managers of the Bansal Wire IPO, while Kfin Technologies Limited is the registrar for the issue.
The company’s shares will be listed on both BSE and NSE with the tentative listing date being Wednesday, July 10. Let us tell you that Bansal Wire Industries will use the proceeds from the IPO for debt, working capital requirements and general corporate purposes.
The company has reserved 50 per cent of the issue for qualified institutional bidders (QIBs), while non-institutional investors have 15 per cent of the offer. While the remaining 35 percent will be allocated for retail investors.
About the company
Bansal Wire has more than 5,000 customers across various industries. The company exports products to more than 50 countries. It has 14 global representatives in Bangladesh, Brazil, France, Germany, Israel, Italy, Netherlands, South Korea, South Africa, Sri Lanka, Turkey, United Kingdom, United States and Vietnam.
Its four manufacturing units are Ghaziabad and Bahadurgarh. The company came into existence in December 1985 and is a stainless steel wire manufacturing company. The company operates in three main segments which include high carbon steel wire, mild steel wire and stainless steel wire. The company manufactures more than 3,000 types of steel wire products.