Bansal Wire Industries Ltd IPO Opens On July 03. Check IPO Details Issue Date Price

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Bansal Wire Industries Ltd IPO Opens On July 03. Check IPO Details Issue Date Price

July 03, 2024
Bansal Wire Industries Ltd IPO Opens On July 03. Check IPO Details Issue Date Price

Bansal Wire Industries Limited is coming out with an initial public offer to raise Rs. 745 crores from the market.

Below are the details of the Bansal Wire Industries Limited IPO:

  • Issue opens – July 03 (Wednesday)
  • Issue closes – July 05 (Friday)
  • Issue size – Rs. 745 crores
  • Price band – Rs. 243 to 256 per equity share
  • Bid lot – 58 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Bansal Wire Industries Limited (the “Company”) along with its subsidiary, Bansal Steel & Power Limited, offers over 3000 SKUs (i.e., stock keeping units) in three broad segments, i.e., high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire, with it’s offering of approximately 2000 SKUs and their Subsidiary’s offering of 1500 SKUs. Further, there are approximately 500 SKUs which are common in both the Company and it’s Subsidiary. High carbon steel wires refer to wires made from high carbon steel and are known for their exceptional strength, hardness, and durability.
  • They are used in applications where these properties are crucial, such as in the manufacturing of springs, cutting tools, and various industrial components that require resilience and resistance to wear and fatigue. Mild Steel Wire is made out of a low-carbon steel with a carbon content ranging from 0.05% to 0.25% and is known for its ductility, malleability, weldability, and versatile nature. They are commonly used in poultry & transmission, agriculture, poultry, fencing, and construction. Stainless steel wire is used in consumer durables, hardware, automotive, agriculture and other general engineering products.
  • The Company operate from their established manufacturing facilities in the National Capital Region, India, with three manufacturing facilities in Ghaziabad (U.P.) and one manufacturing facility in Bahadurgarh (Haryana). While it has built network in order to ensure pan India presence across all regions of India, i.e., they are present in 22 states and six union territories, by way of dealer distribution network, robust revenue from operations in northern states and Western states in India with 65.61%, 67.78% and 64.80% of revenue from operations generated from Delhi, Haryana, Maharashtra and Uttar Pradesh in Fiscal 2022, 2023 and 2024, respectively.
  • In terms of the operational benchmarking, steel wires industry is a highly fragmented industry with top 10 manufacturers contributing to around 22% of the overall production and the Company contributes 2% of the overall production and other unbranded larger and medium and small manufacturers contributing 75% of the overall production.
  • The Company operate in three broad segments, i.e., high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire and the Company will be also adding new segment of specialty wires through their manufacturing plant in Dadri, which will help them to grow and expand market presence in upcoming fiscals.

Issue Size : Rs.745 Cr

Issue break-up :

QIB – 50 % of the offer – Rs. 372.00 Cr.
NIB – 15 % of the offer – Rs. 112.00 Cr.
RET – 35 % of the offer – Rs. 261.00 Cr.

Listing : BSE & NSE

Registrar : KFin Technologies Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Friday, 5th July 2024.

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