Bansal Wire Industries Limited’s (IPO) opens on July 3, 2024, and closes on July 3, 2024. The allotment for the Bansal Wire Industries Limited IPO is anticipated to be completed on Monday, July 8, 2024. The IPO will be listed on the NSE and BSE, with a tentative date set for Wednesday, July 10, 2024.
The price band for the Bansal Wire Industries Limited IPO is set at ₹243 to ₹256 per share. The IPO is a book-built issue of Rs745.00 crores, entirely a fresh issue of 2.19 crore shares.
Bansal Wire IPO Details
| IPO Date | July 3, 2024 to July 5, 2024 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price | ₹243 to ₹256 per share |
| Lot Size | 58 Shares |
| Total Issue Size | 29,101,562 shares (aggregating up to ₹745.00 Cr) |
| Fresh Issue | 29,101,562 shares (aggregating up to ₹745.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 127,454,390 |
| Shareholding post issue | 156,555,952 |
Bansal Wire IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 58 | ₹14,848 |
| Retail (Max) | 13 | 754 | ₹193,024 |
| S-HNI (Min) | 14 | 812 | ₹207,872 |
| S-HNI (Max) | 67 | 3,886 | ₹994,816 |
| B-HNI (Min) | 68 | 3,944 | ₹1,009,664 |
Bansal Wire Industries Limited IPO Objectives
The objectives of the Issue are:
- The company intends to use IPO proceeds for repayment of loans availed by itself and its subsidiary as well as for funding the working capital requirements of the company.
- General corporate purposes.
About Bansal Wire Industries Limited Company
Bansal Wire Industries, founded in December 1985, specializes in manufacturing various types of steel wire. They produce over 3,000 different steel wire products, including high-carbon steel, low-carbon steel (mild steel), and stainless steel wires. These wires range from very thin to very thick.
The company serves more than 5,000 customers across various industries, ensuring steady growth by not relying heavily on any single customer. They use a pricing model that adapts to changes in material costs, reducing risk.
Bansal Wire Industries has a strong presence in India and exports to over 50 countries, making it a significant player in the global market.
Bansal Wire Industries Limited Financial Information
Bansal Wire Industries Limited’s revenue increased by 1.99% and profit after tax (PAT) rose by 31.48% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 1,264.01 | 749.05 | 695.48 |
| Revenue | 2,470.89 | 2,422.57 | 2,205.07 |
| Profit After Tax | 78.80 | 59.93 | 57.29 |
| Net Worth | 422.37 | 282.51 | 223.01 |
| Reserves and Surplus | 358.64 | 273.41 | 213.91 |
| Total Borrowing | 681.14 | 422.19 | 413.15 |
Bansal Wire IPO Timeline
| IPO Open Date | Wednesday, July 3, 2024 |
| IPO Close Date | Friday, July 5, 2024 |
| Basis of Allotment | Monday, July 8, 2024 |
| Initiation of Refunds | Tuesday, July 9, 2024 |
| A credit of Shares to Demat | Tuesday, July 9, 2024 |
| Listing Date | Wednesday, July 10, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 5, 2024 |
Conclusion
Bansal Wire Industries Limited is set to launch its IPO from July 3 to July 5, 2024, with a price band of ₹243 to ₹256 per share. The company aims to raise ₹745.00 crores through a fresh issue of 29.10 million shares. The IPO proceeds will be used primarily for loan repayment and working capital requirements. With over 3,000 steel wire products and a strong global presence, Bansal Wire Industries has shown steady financial growth, as evidenced by a 31.48% increase in profit after tax for the financial year ending March 31, 2024. The shares will be listed on both the NSE and BSE on July 10, 2024.
