Bansal Wire IPO Subscription Reached 62.75x On Day 3

The Bansal Wire IPO closed on July 05, 2024, after an increased subscription from investors. The allotment for the Bansal Wire IPO is expected to be finalised on July 8, 2024. The Bansal Wire IPO will be listed on BSE and NSE, with a tentative listing date of July 10, 2024.

Bansal Wire appointed SBI Capital Markets Limited and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) as the book-running lead managers, while Kfin Technologies Limited as the registrar to the issue.

Bansal Wire IPO price band has been set at ₹243 to ₹256 per share. The minimum lot size for an application is 58 Shares. The minimum amount of investment required by retail investors is ₹14,848.

Day Wise Subscription

On 1st Day, Bansal Wire IPO subscribed 1.85 times. The public issue subscribed 2.60 times in the retail category, 0.01 times in QIB, and 2.57 times in the NII category.

On 2nd Day, Bansal Wire IPO subscribed 6.03 times. The public issue subscribed 6.51 times in the retail category, 0.10 times in QIB, and 12.81 times in the NII category.

On 3rd day of subscription, Bansal Wire IPO subscribed 62.75 times. The public issue subscribed 14.34 times in the retail category, 153.86 times in QIB, and 54.21 times in the NII category

Grey Market Premium

The last GMP for Bansal Wire IPO is ₹75. With a price band of ₹256.00, the estimated listing price is ₹331 (cap price + today’s GMP). The expected percentage gain/loss per share is 29.30%.

About Bansal Wire Industries Limited

Bansal Wire Industries Ltd. (BWIL), along with its Subsidiary, Bansal Steel & Power Limited, offers over 3000 SKUs (i.e., stock-keeping units) in three broad segments, i.e., high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire, with Company’s offering of approximately 2,000 SKUs and its Subsidiary’s offering of 1,500 SKUs. Further, approximately 500 SKUs are common in both the company and subsidiary.

BWIL operates from its four established manufacturing facilities in the National Capital Region, India, with 3 manufacturing facilities in Ghaziabad (U.P.) and 1 manufacturing facility in Bahadurgarh (Haryana). It has built its network to ensure a pan-India presence across all regions of India, i.e., it is present in 22 states and six union territories.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.