Bansal Wire Industries IPO Subscribed 59.57 Times On Final Day
The IPO has been subscribed 59.57 times as of 7 p.m. on Friday.
The initial public offer for steel wire manufacturer Bansal Wire Industries has been subscribed 59.57 times on its third and final day, led by demand from institutional investors. The Rs 745-crore IPO consists of a fresh issue of 2.91 crore shares with no offer-for-sale component.
Click on the link to find out the step-by-step guide to check the allotment status of Bansal Wire Industries IPO.
The stainless-steel wire manufacturer has set a price band of Rs 243–256 per share with a face value of Rs 5 apiece for the three-day issue, which will close on Friday. It has already raised Rs 223 crore from anchor investors a day ahead of its IPO.
The minimum lot size for retail investors is 58 shares, which requires an investment of at least Rs 14,848. For small non-institutional investors, the minimum lot size is 812, which is a total of Rs 2.07 lakh. The minimum lot size for big non-institutional investors is 3,944, which amounts to more than Rs 10 lakh, according to the red herring prospectus.
Issue Details
Issue opens: July 3.
Issue closes: July 5.
Issue price: Rs 243–256 per share.
Total issue size: Rs 745 crore.
Bid lot: 58 shares.
Listing: BSE and NSE.
Business
Bansal Wire Industries manufactures stainless steel wire in three different segments: high carbon steel wire, low-carbon steel wire, and stainless-steel wire.
The company produces over 3,000 different types of steel wire products and serves over 5,000 customers in a variety of industries including automotive, infrastructure, power and transmission, agriculture, general engineering, hardware, and consumer goods.
It not only has a presence in India, but also exports its products to more than 50 different countries. The company's export turnover has increased at a compounded annual growth rate of 47.15% during the last three financial years.
Subscription Status: Day 3
The IPO has been subscribed 59.57 times as of 7 p.m. on Friday.
Institutional investors: 146.05 times.
Non-institutional investors: 51.46 times.
Retail investors: 13.64 times.
