Bansal Wire IPO subscription starts on Wednesday, July 3 and ends on Friday, July 5, 2024. The IPO is a book-built issue of Rs.745 crores. The issue is entirely fresh issue of 2.91 crore shares. Bansal Wire IPO price range sets to Rs. 243 to Rs. 256 per equity shares with a face value of Rs. 5 each. The issue shall be listed on both NSE and BSE with tempting date fixed as Wednesday, July 10, 2024.
The minimum order quantity of the issue is 58 equity shares and in multiples thereof. The minimum amount of investment required for Retail is ₹14,848. The minimum bid size for sNII is 14 lots, amounting to ₹207,872. The company has reserved 50% shares of the issue for QIB’s, 15% for NII’s and 35% for Retail.
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SBI Capital Markets Limited and DAM Capital Advisors Limited are the book-running lead managers. ICICI Bank Limited and HDFC Bank Limited are the sponsor bank of the issue. KFin Technologies Limited is registrar of the IPO.
Financials
| Particulars | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 2470.88 | 2422.56 | 2205.07 |
| Profit | 78.80 | 59.93 | 57.29 |
| PAT Margin | 3.19% | 2.47% | 2.60% |
| Borrowings | 681.14 | 422.19 | 413.15 |
Risk Factors
- The costs of the raw materials that company use in its manufacturing process are subject to volatility.
Objects of the issue
- Repayment or prepayment of all or a portion of certain outstanding borrowings availed by the company.
- Investment in subsidiary of the company for repayment or prepayment of all or a portion of certain of its outstanding borrowings.
- Funding working capital requirements – ₹600 crores
- General corporate purposes
About Bansal Wire Technologies Limited
Incorporated in 1985, Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume in India with a production of 72,176 MTPA and 206,466 MTPA.
Currently, the company is serving the wire needs of some significant Industries like:
- Automotive,
- General Engineering,
- Infrastructure,
- Hardware,
- Consumer Durables,
- Power And Transmission,
- Agriculture and
- Auto Replacement.