Bansal Wire IPO booked nearly 4 times on Day 2. Check GMP and other details
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 for debt repayment, working capital requirements, and other general corporate purposes.
Bansal Wire GMP
In the unlisted market, the company's shares are trading with a premium of Rs 65, unchanged from Wednesday.
Bansal Wire IPO review
Bansal Wire, a manufacturer of steel wire products, operates across three segments, catering to a diverse customer base exceeding 5,000. With a comprehensive product portfolio of over 3,000 SKUs, the company offers a favorable mix of high-volume and higher-margin products, contributing to a stable and consistent margin profile.
Analysts believe the company's financial performance has been positive, demonstrating consistent growth in both revenue and profitability. However, the company's operations are susceptible to fluctuations in raw material supply and costs due to the inherent volatility of the steel market.
«The IPO is priced at a P/E ratio of 41.41x, which appears on the higher end. Considering both the company's strengths and potential risks, we recommend this IPO only for investors with high-risk appetite,» said Swastika Investmart.
Bansal Wire IPO price band
The issue is priced in the range 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
