Bansal Wire Industries files DRHP to raise ₹745 crore via IPO
₹745 crore through an Initial Public Offering (IPO). The proposed IPO consists solely of a fresh issue of equity shares, with no component involving an Offer-For-Sale (OFS), as outlined in the DRHP filed on Thursday. Also read: Upcoming IPOs: 1 main board, 5 SME public issues to open next week; check full list here Approximately 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
The public offer is being made through the book-building process. The company plans to pay down part of its debt, cover its working capital needs, and use the proceeds from the IPO for other general business needs. With 206,466 MTPA and 72,176 MTPA of production in FY23, Bansal Wire is India's second-biggest steel wire manufacturer by volume and the country's largest manufacturer of stainless steel wire.
Also read: Bharti Airtel arm Bharti Hexacom files for IPO; to issue up to 10 crore equity shares via OFS With a diverse range of products and services, the company serves a number of industries, including agriculture, general engineering, hardware, consumer durables, automotive, infrastructure, power and transmission, and vehicle replacement. It produces a vast array of more than 3,000 stock-keeping units, surpassing all other steel wire manufacturers in India. These sizes span from an incredibly fine 0.04 mm to a substantial 15.65 mm in thickness.
The total income grew from ₹1,480 crore in FY21 to ₹2,422 crore in FY23 at a compound annual growth rate (CAGR) of 28%. PAT jumped by 21.6% to ₹59.9 crore during the same time, while EBITDA grew at a pace of 16% to ₹1,15 crore. Also read: Medi Assist IPO: What GMP signals as listing date fixed on 23rd January Revenue was
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