Bansal Wire announces price band for its Rs 745 crore IPO. Check details
IPO) of Bansal Wire will open for subscription on July 3 and close on July 5. The company has fixed a price band of Rs 243-256 per share.
At the upper end, the company plans to raise around Rs 745 crore. Investors can bid for 58 shares in one lot and in multiples thereafter.
The public offer is being made through the book building process, wherein about 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.
The company proposes to use the funds from the IPO to repay some of its debt, working capital requirements and other general corporate purposes.
Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume in India with a production of 72,176 MTPA and 206,466 MTPA, respectively, in FY23.
The company has a diversified portfolio, catering to a wide range of sectors such as automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture and auto replacement.
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It manufactures over 3,000 stock keeping units, the highest amongst all steel wire manufacturers in India with sizes ranging from as thin as 0.04 mm to as thick as 15.65 mm.
With a well-diversified base of more than 5,000 customers spanning various sectors, Bansal Wires Industries has established a robust network that contributes to its growth.
Over the
