Bansal Wire Industries shares debut with 39% premium on NSE

Shares of Bansal Wire Industries made an impressive debut on the NSE on July 10, listing at Rs 356. This represents a 39% premium over the issue price of Rs 256 following a successful Initial Public Offering (IPO).

The Bansal Wire IPO, which opened for bidding on July 3 and concluded on July 5, was a book-built issue consisting entirely of a fresh issue of 2.91 crore shares. The price band for the issue was set between Rs 243 and Rs 256 per share.

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Bansal Wire’s Rs 745-crore public offer received bids for over 67 crore equity shares, surpassing the offer size of 2.14 crore equity shares by 31.25 times. Qualified institutional buyers (QIBs) led the charge, buying over 55 times their allotted portion. Non-institutional investors followed, bidding 44.60 times their allotted quota, while retail investors subscribed to 11.76 times their reserved portion.

SBI Capital Markets Limited and Dam Capital Advisors Ltd acted as the book-running lead managers for the IPO. Kfin Technologies Limited served as the registrar.

Bansal Wire is a prominent manufacturer of stainless steel wire, catering to diverse sectors including automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture, and auto replacement. The company’s products are marketed under the brand name “BANSAL.” Bansal Wire operates across three primary segments: high carbon steel wire, mild steel wire (low carbon steel wire), and stainless steel wire.