The initial public offering (IPO) of Bansal Wire Industries Limited, a key player in the steel wire industry, is currently open for bidding from 3rd July 2024 until 5th July 2024.
Here’s a summary of the current developments and market sentiment surrounding the IPO.
Market Response and Grey Market Premium
The Bansal Wire IPO has garnered significant interest from primary market investors. As of the latest update,
the grey market premium (GMP) for Bansal Wire shares stands at ₹65, indicating a bullish sentiment compared to previous days.
Subscription Status and Market Outlook
Subscription Status Highlights
By 3:12 PM on the third day of bidding:
1) Overall subscription was 41.68 times.
2) Retail segment was subscribed 12.38 times.
3) Non-Institutional Investors (NII) segment saw a subscription of 48.16 times.
4) Qualified Institutional Buyers (QIB) portion was oversubscribed at 88.09 times.
Analyst Recommendations and Investment Strategy
Analyst Insights and Recommendations
Analysts have given a ‘subscribe’ recommendation to the Bansal Wire IPO:
1) Rajan Shinde from Mehta Equities highlights the company’s growth prospects despite high valuation, suggesting potential long-term gains.
2) Arun Kejriwal from Kejriwal Research and Investment Services advises booking profits post-listing due to expected market dynamics.
IPO Timeline and Allotment Details
Key Dates to Note
The tentative allotment date for Bansal Wire IPO shares is 6th July 2024, with listing expected on 10th July 2024 following the ‘T+3’ listing rule.
This restructuring aims to maintain clarity while keeping all essential information intact. If you need any further adjustments or additional details, feel free to let me know!
