Bansal Wire Industries Sets IPO Price Band At Rs 243–256 Apiece
Bansal Wire Industries Ltd. has set the price band for its initial public offering at Rs 243–256 apiece.
The Rs 745 crore public offering consists of a fresh issue with no offer-for-sale component. The issue will open for subscription on July 3 and close on July 5. The bidding for the anchor portion will open for a day on July 2.
The minimum lot size for bidding will be 58 shares, with further bids to be made in multiples, according to the price band advertisement released by the company on Friday.
The shares will be listed on the National Stock Exchange and on the BSE, while SBI Capital Markets Ltd. and DAM Capital Advisors Ltd. are the bookrunning lead managers for the issue.
The steel wire manufacturer filed its preliminary papers with the capital markets regulator to raise funds in January 2024.
Click on the link to find out the step-by-step guide to check the allotment status of Bansal Wire Industries.
About Bansal Wire Industries
Bansal Wire Industries manufactures and exports steel wires. It operates in three broad segments: high-carbon steel wire, mild steel wire (low-carbon steel wire), and stainless steel wire.
The steel wire manufacturer's total income increased at a compound annual growth rate of 28% to Rs 2,422.5 crore in fiscal 2023 from Rs 1,480.4 crore in fiscal 2021. The profit surged at a compound annual growth rate of 21.7% to Rs 59.9 crore in fiscal 2023 from Rs 40.4 crore in fiscal 2021.
The company will use the funds for debt repayment, working capital requirements, and general corporate purposes.
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