Bansal Wire Industries IPO made a strong market debut, listing at ₹356 on the NSE and ₹352.05 on the BSE, with a premium of 39.06% and 37.52% respectively over the IPO issue price of ₹256 per share. The robust demand for the IPO led to the impressive opening.
Bansal Wire’s IPO, open from July 3 to July 5, was a huge success, subscribing 59.57 times overall. The retail, NII, and QIB portions saw 13.64x, 51.46%, and 146.05x subscriptions, respectively. This strong investor demand resulted in Bansal Wire’s impressive market debut on July 10.
Bansal Wire Industries, with over 3000 SKUs, is a leading manufacturer of high carbon, mild, and stainless steel wires, operating from four facilities across northern and western India. They source raw materials from major suppliers, ensuring quality, quantity, and competitive pricing for their diversified product range.
Bansal Wire Industries’ IPO proceeds will be utilized to optimize borrowings, support subsidiary investments, and fund working capital needs. Key objectives include repaying/prepaying debt to reduce costs, investing in a subsidiary, and addressing operational working capital, alongside general corporate purposes to drive growth and expansion.