Bansal Wire Share Price

Bansal Wire IPO to List on BSE, NSE on July 10, 2024

Key Points:

* Bansal Wire IPO to list on BSE, NSE with tentative listing date fixed as Wednesday, July 10, 2024. * Bansal Wire IPO price band is set at Rs. 243 to Rs. 256. * The New Delhi-based Bansal Wire Industries is selling its shares in the price band of Rs. 243-256 apiece. * The quota for non-institutional investors received 404 times subscription.

Bansal Wire Industries Ltd., a New Delhi-based company, is selling its shares in the price band of Rs. 243-256 apiece in its initial public offering (IPO). The price band of the IPO has been fixed at Rs. 243-Rs. 256 per share.

The quota for non-institutional investors received 404 times subscription, while the quota for retail investors received 94 times subscription. The qualified institutional buyers (QIBs) portion was subscribed 1.46 times.

Bansal Wire Industries is a manufacturer of steel wires and wire products. The company's products are used in a variety of industries, including automotive, construction, and manufacturing.

The company's revenue grew from Rs. 1,019 crore in FY2020 to Rs. 1,403 crore in FY2022. The company's net profit grew from Rs. 42 crore in FY2020 to Rs. 57 crore in FY2022.

The company's IPO is expected to raise around Rs. 500 crore. The proceeds of the IPO will be used to fund the company's expansion plans, including the construction of a new manufacturing facility in Maharashtra.

Conclusion:

Bansal Wire Industries' IPO is expected to be a success given the company's strong growth potential and the positive outlook for the steel industry. Investors may consider subscribing to the IPO for a potential gain.