Bansal Wire IPO subscribed 59 times on last day; check subscription status, allotment, listing date

Bansal Wire IPO garnered significant interest across investor categories on the final day of bidding on July 5. The issue closed with a subscription of 59.57 times on the last day of bidding as investors placed bids for over 127.85 crore shares compared to 2.14 crore shares offered for subscription.

Bansal Wire IPO was subscribed 62.15 times in the Qualified Institutional Buyers (QIB) category with bids for more than 89.55 crore shares compared to 61.31 lakh shares set aside for the category.

The non-Institutional Investors (NIIs) placed bids for more than 23.66 crore shares against 45.98 lakh shares reserved for the category. On the final day of bidding, the Bansal Wire IPO was subscribed 51.46 times in the NII category.

Retail investors placed bids for more than 14.63 crore shares compared to 1.07 crore shares set aside for the category. The retail portion was booked 13.64 times.

Bansal Wire IPO share allotment status and listing date

The subscription window for Bansal Wire IPO opened on Wednesday, July 3 and closed on Friday, July 5. After the close of the subscription window, the share allotment status of the mainboard issue is likely to be finalised by Monday, July 8. Refunds will be initiated for unsuccessful bidders on Tuesday, July 9. Shares of Bansal Wire will also be credited into the demat accounts of successful bidders on the same day. Bansal Wire’s shares are likely to list on the exchanges on Wednesday, July 10. The stainless steel wire maker’s shares will be listed on the BSE and NSE.

Bansal Wire IPO price band, issue size and other details

Bansal Wire IPO is a completely fresh issue of 2.91 crore shares worth ₹745 crore. The price band for Bansal Wire IPO was fixed at ₹243 to ₹256 per share.

The minimum lot size for the mainboard public issue was 58 shares, aggregating to an investment of ₹14,848.

About Bansal Wire Industries

Stainless steel maker Bansal Wire was incorporated in 1985. The company’s business is segmented in three main categories: high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. Bansal Wire has a presence in more than 50 countries. The company has four manufacturing units located in Ghaziabad, Uttar Pradesh and Jhajjar, Haryana.

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