- Price Band fixed at ₹243 to ₹256 per Equity Share of face value of ₹5 each
- Bid / Issue will open on Wednesday, July 3, 2024 and close on Friday, July 5, 2024.
- Bids can be made for a minimum of 58 Equity Shares and in multiples of 58 Equity Shares thereafter
NE BUSINESS BUREAU
AHMEDABAD, JULY 2
Ahead of floating ₹745 crore IPO, Bansal Wire Industries Limited, a stainless steel wire manufacturing company, has raised ₹223.5 crore through anchor investors on Tuesday, July 2.
Bansal Wire Industries Limited shall open its Bid / Issue in relation to its initial public issue of Equity Shares on Wednesday, July 3, 2024.
The total Issue size of Equity Shares (face value ₹5 each) comprises fresh issue aggregating up to ₹745 crore.
The Bid/Issue will open on Wednesday, July 3, 2024 and close on Friday, July 5, 2024.
The Price Band of the Issue has been fixed at₹243 to ₹256 Per Equity Share. Bids can be made for a minimum of 58 Equity Shares and in multiples of 58 Equity Shares thereafter.
The company informed exchanges on Tuesday that it has finalised allocation of 87,30,468 equity shares to anchor investors at the upper band price of ₹256 per equity share.
SBI Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Eastspring Investments, Optimix Wholesale Global Emerging Markets Share Trust, HSBC Mutual Fund and Edelweiss Trusteeship participated in the anchor book launched by the company for a day on Tuesday.
In addition, Motilal Oswal Mutual Fund, Carmignac Portfolio, Tata Mutual Fund, DSP India, Malabar Midcap Fund, and Think India Opportunities Master Fund also invested in the company via anchor book.
The ₹546.4 crore out of the net fresh issue proceeds will be utilised for repaying debts of the company and its subsidiary. Further, ₹60 crore will be spent for working capital requirements and the remainder funds will be set aside for general corporate purposes.
Bansal Wire Industries IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Between March 31, 2024, and March 31, 2023, Bansal Wire Industries Limited’s profit after tax (PAT) climbed by 31.48% while its revenue increased by 1.99%.
SBI Capital Markets Limited and DAM Capital Advisors Limited are the Book Running Lead Managers to the issue.
