Bansal Wire IPO share allotment expected soon. Check status, GMP, listing date and other details
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Synopsis
Bansal Wire's IPO saw strong interest with 58 times subscription. Share allotment to be finalized on Monday. Company is the largest stainless steel wire manufacturer in India, catering to various sectors. Unlisted shares trading at a premium of Rs 76.
Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)
Step 3: Enter the application number or PAN number to check the allotment status.
To check the status of Bansal Wire IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the below steps.
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In the unlisted market, the company's shares are trading with a premium of Rs 76. This compares with an IPO price of 256, indicating a gain of 30% on listing day, which is fixed as July 10.
Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume in India with a production of 72,176 MTPA and 206,466 MTPA, respectively, in FY23.
It manufactures over 3,000 stock-keeping units, the highest amongst all steel wire manufacturers in India with sizes ranging from as thin as 0.04 mm to as thick as 15.65 mm.
With a well-diversified base of more than 5,000 customers spanning various sectors, Bansal Wires Industries has established a robust network that contributes to its growth.
Over the years, the company has adopted a de-risking strategy, under which no single customer accounts for more than 5% of its sales, and no sector or segment constitutes more than 25% of the sales.
The total income has increased at a CAGR of 28% from Rs 1480 crore in FY21 to Rs 2,422 crore in FY23. EBITDA during the same period grew at a rate of 16% to Rs 1,15 crore, while PAT has increased at 21.6% to Rs 59.9 crore.
SBI Capital Markets and DAM Capital are acting as the book-running lead managers to the IPO.
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