Bansal Wire Industries IPO Day 3: Issue subscribed 9.34 times so far, NIIs lead; check key dates

Bansal Wire Industries IPO (initial public offering) has received a good response from investors, with the issue being subscribed 9.34 times so far on the final day of bidding.

According to data available on the National Stock Exchange (NSE), the initial share sale received bids for 20 crore shares against 2.14 crore equity shares on offer on day 3.

The portion for non-institutional investors was booked 23.67 times while the quota for retail investors was subscribed 8.44 times. The qualified institutional buyers (QIBs) category fetched a mere 14% subscription.

Before the IPO, Bansal Wire Industries collected ₹223.5 crore in the anchor round from investors such as SBI Mutual Fund, Kotak Mahindra Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Optimix Wholesale Global Emerging Markets Share Trust, Eastspring Investments, and Edelweiss Trusteeship.

The mainboard IPO is entirely a fresh issue of shares worth ₹745 crore without any offer-for-sale (OFS) component.

The issue, which is live from July 3 to July 5, has set a price band of ₹243 to ₹256 per share.

To know more and apply for Bansal Wire Industries IPO, CLICK HERE.

The funds generated from the fresh issue will be utilised for debt repayment, to meet working capital requirements of the firm and for general corporate purposes.

Bansal Wire IPO: Key dates

• IPO subscription window: July 3 to July 5
• Allotment finalisation: July 8
• Refund initiation: July 9
• Demat transfer: July 9
• Listing: July 10

About Bansal Wire IPO

Bansal Wire Industries is involved in the production of steel wires and operates in three broad segments: high carbon steel wire, stainless steel wire, and mild steel wire (low carbon steel wire).

The company plans to add a new segment of speciality wires at its new plant in Dadri, which would help the firm expand its market presence.

DAM Capital Advisors and SBI Capital Markets are the book-running lead managers for the issue.

To know more about IPO listing, schedule and upcoming IPOs, click here.