Bansal Wire Industries IPO: Check Important details before applying

Bansal Wire Industries has come up with an offering of a public issue. This initial public offering (IPO) will come with a total issue size of up to Rs 745 crore. This new IPO is being made through a book-built type with a reservation of not less than 50% of the net issue being offered to qualified institutional buyers, retail investors being offered not less than 35% of the net issue, and not less than 15% of the net issue is reserved for HNI category. This IPO will be open for subscription from June 21, 2024, till June 25, 2024, whereas the listing date is decided on June 28, 2024, and refund initiation for those who will not get allotted the share will be on June 27, 2024. keep in mind that the public offering is proposed to be listed on the NSE exchange on an SME segment.

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About Bansal Wire Industries Limited

Bansal Wire Industries Limited, founded in December 1985, is a leading manufacturer of stainless-steel wire with operations spanning high carbon, low carbon, and stainless-steel wire segments. The company produces over 3,000 varieties of steel wire, serving more than 5,000 customers across diverse industries. With a risk-mitigation strategy based on customer diversification and adaptive pricing, Bansal Wire has established a strong presence in India and exports to over 50 countries, supported by 14 global representatives. The company's manufacturing capabilities are distributed across four units in Ghaziabad and Haryana, and since 2021, it has bolstered its sales efforts with a team of 50+ experienced professionals to cover all regions of India. This strategic approach has contributed to Bansal Wire's significant growth, including a 47.15% CAGR in export turnover over the last three fiscal years, solidifying its position as a key player in both domestic and international markets.

Primary Objectives of Public Issue

The company plans to use the Net Proceeds from the issue for three main purposes. They aim to repay or prepay certain outstanding borrowings, fund working capital requirements, and allocate some funds for general corporate purposes. This strategy balances debt reduction, operational support, and financial flexibility, reflecting the company's focus on stability and growth.

Financial Performance of Bansal Wire Industries Limited (Amount in Rs Crore)

The company's revenue was reported to be Rs 2,407.89 crore for the year ended March 2024, which shows a decline of 0.6%. The profit after tax is jumped to Rs 78.80 Crore, marking an increase of 31.48% for the year ended March 2024 compared to previous year.

Essential Details of the Bansal Wire Industries Public Issue 2024

Bansal Wire Industries IPO Tentative Timeline  

Lot Size of Bansal Wire IPO

An Investor can bid for a min of 58 shares and its multiple. The minimum and maximum amount an investor can bid by different categories is specified below.

KPI of Bansal Wire (March 31, 2024)

The market cap of the company’s IPO is Rs 4007.83 Crore

Reservation of Bansal Wire IPO

What is the change in promoter holding for Bansal Wire Industries before and after the IPO?

The promoters of Bansal Wire Industries are Arun Gupta, Anita Gupta, Pranav Bansal and Arun Kumar Gupta HUF. Prior to the IPO the promoters collectively held 95.78% of the company's shares. However, post-IPO, their combined shareholding will be disclosed soon.

Lead Manager(s) of Bansal Wire Industries IPO 2024

The lead managers of Bansal Wire Industries IPO are SBI Capital Markets Limited and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd).  

How to Apply for Bansal Wire Industries IPO

The public issue will be open for subscription in a few days. You can click here to apply for the Bansal Wire Industries IPO with Bigul.

How to Check the Allotment Status of Bansal Wire Industries IPO 2024

Kfin Technologies Limited is the registrar for Bansal Wire Industries IPO. You can check your allotment status by clicking here.

FAQs

1.      When is the IPO scheduled to open and close?

Bansal Wire Industries IPO is scheduled to open for subscription from July 3, 2024, till July 5, 2024.  

2.      What will the price band be for the IPO?

Bansal Wire Industries' IPO price band is set at Rs 243 to Rs 256 per share.  

3.      What are the main objectives of this IPO?

The company plans to use the Net Proceeds from the issue for three main purposes. They aim to repay or prepay certain outstanding borrowings, fund working capital requirements, and allocate some funds for general corporate purposes. This strategy balances debt reduction, operational support, and financial flexibility, reflecting the company's focus on stability and growth.

4.      How has Bansal Wire Industries Limited performed financially?

The company's revenue was reported to be Rs 2,407.89 crore for the year ended March 2024, which shows a decline of 0.6%. The profit after tax is jumped to Rs 78.80 Crore, marking an increase of 31.48% for the year ended March 2024 compared to previous year.

5.      How can I apply for the Bansal Wire Industries IPO?

The public issue will be open for subscription in a few days. You can click here to apply for the Bansal Wire Industries IPO with Bigul.   

6.      How can I check the allotment status of the IPO?

Kfin Technologies Limited is the registrar for Bansal Wire Industries IPO. You can check your allotment status by clicking here. 

7.      Where will the IPO be listed?

The IPO will be listed at BSE and NSE.

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