Bansal Wire Industries IPO Oversubscribed 59.57 Times

By By Rediff Money Desk, New Delhi
Jul 05, 2024 20:20
Bansal Wire Industries IPO received 59.57 times subscription on the final day, with strong interest from QIBs, non-institutional investors and retail investors.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jul 5 (PTI) The initial public offer of steel wire manufacturer Bansal Wire Industries garnered 59.57 times subscriptions on the final day of bidding on Friday.

The Rs 745-crore initial share sale received bids for 1,27,85,23,754 shares against 2,14,60,906 shares on offer, according to NSE data.

The quota for Qualified Institutional Buyers (QIBs) received 146.05 times subscription, while the category for non-institutional investors attracted 51.46 times bidding, and the portion for Retail Individual Investors (RIIs) subscribed 13.64 times.

Bansal Wire Industries on Tuesday collected over Rs 223 crore from anchor investors.

The public issue is an entirely fresh issue of equity shares worth Rs 745 crore, with no offer-for-sale (OFS) component.

The issue, with a price band of Rs 243-256 per share, will close for public subscription on July 5.

The funds will be used for the payment of debt, to support the working capital requirements of the company and for general corporate purposes.

Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wires. It operates in three broad segments' high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire.

Also, the company plans to add a new segment of speciality wires through its upcoming plant in Dadri, which will help it grow and expand its market presence in the upcoming fiscal.

SBI Capital Markets and DAM Capital Advisors are the book-running lead managers to the issue.
Source: PTI
Read More On:
iporetail investorssubscriptioninitial public offersbi capital marketsqibsnon-institutional investorsbansal wire industriesdam capital advisorssteel wire
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

IREDA to Raise Rs 5,000 Cr via QIP for Green...

IREDA's board approves a plan to raise up to Rs 5,000 crore through QIP to support the...

CCPA Investigates Ola, Uber for Differential...

India's Consumer Protection Authority (CCPA) is investigating ride-hailing services Ola...

Amazon Web Services to Invest Rs 60,000 Cr in...

Amazon Web Services (AWS) will invest Rs 60,000 crore to expand its data center...

Adani Infra to Acquire Majority Stake in PSP...

Adani Infra, led by Gautam Adani, seeks CCI approval to acquire a majority stake in PSP...

Crude Oil Futures Fall on Weak Global Demand

Crude oil futures declined on the Multi Commodity Exchange (MCX) due to weak global...

Budget 2026: Barclays Urges Tax Cuts for...

Barclays recommends a personal income tax cut in India's FY26 budget to stimulate...

Coforge Q3 Profit Up 10.3% to Rs 268 Cr |...

Coforge's adjusted PAT surged 10.3% to Rs 268 crore in Q3, driven by strong revenue...

Paras Defence to Invest Rs 12,000 Cr in India's...

Paras Defence will invest Rs 12,000 crore to build India's first optics park in...

Ayushmann Khurrana: FICCI Frames Brand...

Bollywood star Ayushmann Khurrana has been appointed as the brand ambassador for FICCI...

India Employers Face Talent Shortage in Q1...

A new survey reveals Indian employers are anticipating cautious hiring in Q1 2025 due...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com