Bansal Wire IPO: GMP, Price Band, Timeline and 10 Key Details

Bansal Wire Industries IPO: Key Details

Bansal Wire Industries, a leading manufacturer of steel wire rods, is set to launch its initial public offering (IPO) on July 3, 2024. The IPO will close on July 5, 2024, and the company aims to raise INR 745 crore through the issue.

IPO Price Band and GMP

The price band for the IPO has been set at INR 243-256 per share. The Grey Market Premium (GMP) for Bansal Wire IPO is currently trading at INR 10-12, indicating a positive sentiment in the market.

Timeline of Bansal Wire IPO

Key dates related to the Bansal Wire IPO are as follows:

• IPO Opening Date: July 3, 2024
• IPO Closing Date: July 5, 2024
• IPO Listing Date: July 12, 2024

10 Important Things to Know About Bansal Wire IPO

1. The IPO comprises a fresh issue of shares worth INR 300 crore and an offer for sale (OFS) of 17,373,758 shares by existing shareholders.
2. The company plans to utilize the proceeds from the IPO to expand its manufacturing capacity, repay debt, and fund working capital requirements.
3. Bansal Wire Industries is a market leader in the steel wire rod industry with a strong presence in India and exports to over 25 countries.
4. The company has a diversified customer base, including leading automobile manufacturers, construction companies, and power transmission companies.
5. Bansal Wire Industries has a strong financial track record with consistent growth in revenue and profitability over the past few years.
6. The IPO is expected to be subscribed by both institutional and retail investors, given the company's strong fundamentals and growth prospects.
7. The company has appointed Axis Capital, ICICI Securities, and SBI Capital Markets as the lead managers for the IPO.
8. Investors can apply for the IPO through ASBA (Application Supported by Blocked Amount) or UPI (Unified Payments Interface).
9. The minimum lot size for the IPO is 60 shares, which means investors can apply for a minimum of INR 15,180 (256 x 60).
10. Allotment of shares will be finalized on July 10, 2024, and the shares are expected to be listed on the BSE and NSE on July 12, 2024.