IPO Centre     03-Jul-24
IPO News
Bansal Wire Industries IPO subscribed 1.76 times
The offer received bids for 3.77 crore shares as against 2.14 crore shares on offer.
The initial public offer (IPO) of Bansal Wire Industries received 3,77,76,154 bids for shares as against 2,14,60,906 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (3 July 2024). The issue was subscribed 1.76 times.

The issue opened for bidding on Wednesday (3 July 2024) and it will close on Friday (5 July 2024). The price band of the IPO is fixed at Rs 243 to 256 per share. An investor can bid for a minimum of 58 equity shares and in multiples thereof.

The offer comprises only of fresh issue of equity shares aggregating upto Rs 745 crore.

The net proceeds will be used from the fresh issue towards repayment or prepayment of all or a portion of certain outstanding borrowings amounting Rs 452.68 crore, investment in subsidiary for repayment or prepayment of all or a portion of certain outstanding borrowings amounting Rs 93.708 crore, funding the working capital requirements amounting Rs 60 crore, and balance towards general corporate purposes.

The total outstanding borrowings were Rs 676.28 crore as on 31 May 2024. The total outstanding borrowings of subsidiary were Rs 103.92 crore.

Ahead of the IPO, Bansal Wire Industries on Tuesday, 2 July 2024, raised Rs 223.49 crore from anchor investors. The board allotted 87.30 lakh shares at Rs 256 each to 18 anchor investors.

Bansal Wire Industries is the largest stainless-steel wire manufacturer and the second largest steel wire manufacturer by volume in India. Manufacturing steel wires since the last 38 years, the company caters to various sectors, with a diversified portfolio spread across high carbon steel wire, mild steel wire (low carbon steel wire) and stainless-steel wire. It is adding a new segment of specialty wires. These will be manufactured at Dadri.

The firm reported a net profit of Rs 78.80 crore and total income of Rs 2,466.03 crore for the twelve months ended on 31 March 2024.

Previous News
  Bansal Wire Industries consolidated net profit rises 41.72% in the March 2025 quarter
 ( Results - Announcements 20-May-25   14:52 )
  Bansal Wire Industries to conduct board meeting
 ( Corporate News - 14-May-25   15:17 )
  Bansal Wire Industries inaugurates its largest steel wire manufacturing unit at Dadri
 ( Corporate News - 10-Apr-25   12:51 )
  Bansal Wire Industries announces allotment of land at GIDC, Sanand II, Gujarat
 ( Corporate News - 18-Mar-25   13:58 )
  Bansal Wire Industries consolidated net profit rises 181.62% in the December 2024 quarter
 ( Results - Announcements 29-Jan-25   16:39 )
  Bansal Wire Industries announces board meeting date
 ( Corporate News - 24-Jan-25   10:46 )
  Bansal wire Industries commences production of its specialty wire vertical
 ( Corporate News - 06-Dec-24   18:51 )
  Bansal Wire Industries consolidated net profit rises 118.40% in the September 2024 quarter
 ( Results - Announcements 11-Nov-24   18:04 )
  Bansal Wire Industries to announce Quarterly Result
 ( Corporate News - 07-Nov-24   14:25 )
  Bansal Wire Industries to convene AGM
 ( Corporate News - 19-Sep-24   10:05 )
  Board of Bansal Wire Industries approves acquisition of balance stake in Bansal Steel & Power
 ( Corporate News - 02-Aug-24   16:38 )
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