IPO Details
Bidding Dates
03 Jul '24 - 05 Jul '24
Minimum Investment
₹14,848/1 Lot ( 58 Shares )
Price Range
₹243 - ₹256
Maximum Investment
₹193,024/13 Lot ( 754 Shares )
Retail Discount
To be announced
Issue Size
₹745.00 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investors |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Jul 3, 2024
Closing Date
Jul 5, 2024
Allotment Date
Jul 8, 2024
Initiation of Refunds
Jul 9, 2024
Credit of Shares to Demat
Jul 9, 2024
Listing Date
Jul 10, 2024
Cut-off time for UPI mandate confirmation
Jul 5, 2024
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Jul 3, 2024 |
0.01x | 2.59x | 2.65x | 1.88x |
Day 2Jul 4, 2024 |
0.10x | 12.82x | 6.54x | 6.05x |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers | 0.10 |
| Non-Institutional Buyers | 12.82 |
| Retail Investors | 6.54 |
| Total | 6.05 |
About Bansal Wire Industries Limited
Bansal Wire Industries Limited stands as India's premier stainless steel wire manufacturer and holds the position of being the second-largest steel wire manufacturer by volume in the nation. In Fiscal 2023, the company produced 72,176 MTPA of stainless steel wire and 206,466 MTPA of steel wire, capturing 20% and approximately 4% of the market share, respectively, according to CRISIL Report.
Since its inception in 1985, Bansal Wire Industries has been committed to excellence, providing top-quality products and establishing a distinctive reputation within the steel wire sector. With a 38-year legacy, the company boasts a diverse portfolio that serves a variety of sectors including automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture, and the auto replacement market.
A vast range of over 3,000 stock-keeping units (SKUs), the most extensive variety among all steel wire manufacturers in India, with sizes from as thin as 0.04 mm to as thick as 15.65 mm. A diversified customer base exceeding 5,000 across various sectors, fostering a robust network that supports sustained growth.
Bansal Wire Industries operates across three main segments: high-carbon steel wire, mild steel wire (low-carbon steel wire), and stainless steel wire. Additionally, the company is poised to enhance its market footprint with the introduction of a new specialty wire segment through its forthcoming plant in Dadri. This expansion aims to further broaden its product offerings and strengthen its market position in the forthcoming fiscal year.
Industry Outlook:
- The Indian steel industry is projected to expand at a 7% CAGR through 2027, driven by robust demand from automotive, construction, and infrastructure sectors, reaching 155-160 MT.
- India's wire rods sector, having grown at a 7% CAGR from 2019 to 2023, continues to navigate a largely unorganised market landscape, underscoring the significant potential for structured growth and investment.
- The building and construction sector, which accounts for approximately 30% of finished steel demand, is expected to grow at a CAGR of 5-6% from fiscal 2023 to fiscal 2028. This growing demand provides Bansal Wires with opportunities to enhance its market share, boost revenues, and achieve sustained growth in the coming years.
Bansal Wire Industries Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Utilise ₹5,463.91 million to reduce existing debt and associated costs.
- Allocate ₹600 million to meet the company's future working capital needs.
- Use remaining funds for general corporate activities, including business development and strategic initiatives.
Peer Details
Rajratan Global Wire Limited is the only listed company considered by Bansal Wire Industries as its peers.
How to Check the Allotment Status of the Bansal Wire Industries Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the Individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Bansal Wire Industries Limited IPO
- Registered office: F-3, Main Road, Shastri Nagar, Delhi-110052
- Phone: 011-2365 1891/92/93
- E-mail:investorrelations@bansalwire.com
IPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Revenue from Operations (in ₹ million ) | 11,513.58 | 24,130.08 | 21,983.58 | 14,770.88 |
| Profit After Tax (PAT) (in ₹ million) | 389.98 | 599.30 | 572.90 | 404.67 |
| Cash & Cash Equivalents (in ₹ million) | 6.18 | 7.10 | 4.38 | 6.75 |
| EBITDA (in million) | 654.96 | 1,147.05 | 1,131.48 | 849.69 |
| Net Worth (in ₹ million) | 3,213.74 | 2,825.14 | 2,230.12 | 1,599.71 |
| Debt to Equity Ratio(x) | 1.26 | 1.49 | 1.85 | 2.26 |
| Return on Equity (%) | 25.83 | 23.71 | 29.92 | 28.39 |
| Return on Capital Employed (RoCE) (%) | 22.16 | 17.34 | 18.59 | 16.91 |
Know before investing
Strengths
4-
Bansal Wire Industries employs a risk management strategy that ensures no single customer accounts for more than 5% of total sales and no one sector accounts for more than 25% of sales.
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The company adopts a "Cost Plus model" operational strategy, effectively insulating it from fluctuations in commodity prices.
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Expertise in steel wire manufacturing since 1938, spanning three generations.
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Exports to over 50 countries, enhancing international footprint.
Risks
4-
Limited 35-45-day inventory makes operations vulnerable to supply chain disruptions.
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Dependence on four facilities in Uttar Pradesh and Haryana risks regional disruptions.
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Potential non-renewal of leasehold facilities could disrupt operations and impact finances.
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Overseas market distribution relies on a few representatives; changes could impact operations and financial health.
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Bansal Wire Industries IPO FAQs
Bansal Wire IPO is a book-built issue IPO. The IPO will be open from July 3, 2024, to July 5, 2024.
The Basis of Allotment will happen on Monday, July 8, 2024.
The IPO subscription window will open on July 3, 2024.
The lot size for Bansal Wire Industries Limited’s IPO is 1 lot of 58 shares, with a minimum investment of ₹ 14,848.
The listing date for Bansal Wire Industries is July 10, 2024.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
