Investors are showing strong interest in Bansal Wire Industries’ IPO, subscribing 5.73 times by the second day. The company aims to raise Rs 745 crore through the IPO, with bidding open until July 5.
Subscription Details
The IPO has garnered bids for 12.28 crore shares against the 2.14 crore shares offered. Non-institutional investors lead with a subscription of 12.16 times, followed by retail investors at 6.19 times. Qualified Institutional Buyers (QIBs) have subscribed 0.09 times.
Issue Specifics
Bansal Wire Industries will issue fresh equity shares valued at Rs 745 crore, with no Offer for Sale (OFS).
Investors can bid in multiples of 58 shares, requiring a minimum investment of Rs 14,848 for retail investors.
Utilization of Funds
Proceeds from the IPO will be allocated towards debt repayment, working capital needs, and general corporate purposes.
SBI Capital Markets and DAM Capital Advisors are managing the issue as book running lead managers.
Company Overview
Bansal Wire Industries specializes in manufacturing and exporting steel wires across segments including high carbon, mild steel, and stainless steel.
The company plans to expand into specialty wires with a new facility in Dadri, aiming for future market growth and expansion.
