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Posted on  June 29, 2024 under  by Meghna Mundhra

Bansal Wire IPO Details - Complete Overview of Bansal Wire Industries Limited IPO

Bansal Wire IPO Price: ₹243 to ₹256 per share
IPO Date Range:
3 July 2024 - 5 July 2024

Bansal Wire IPO

Company Overview

Incorporated in December 1985, Bansal Wire Industries Limited is India's leading stainless steel wire manufacturer. The company operates in three main segments: high-carbon steel wire, low-carbon steel wire (mild steel wire), and stainless steel wire. Bansal Wire produces over 3,000 different types of steel wire products, catering to more than 5,000 customers across various industries, which supports the company's growth and diversification.

Manufacturing Capabilities

The company operates four manufacturing units located in Mohan Nagar, Ghaziabad, Loni Industrial Area, Ghaziabad, and Bahadurgarh, Jhajjar, Haryana. With two units in the Loni Industrial Area, Bansal Wire Industries Limited is well-equipped to meet the demands of its diverse product portfolio. In Fiscal 2023, the company produced 72,176 MTPA of stainless steel wire and 206,466 MTPA of steel wire, representing 20% and approximately 4% market share, respectively, making it the largest stainless steel wire manufacturer and the second-largest steel wire manufacturer by volume in India.

Market Presence and Export Growth

Bansal Wire Industries Limited has a significant presence across India and exports products to over 50 countries, establishing itself as a key player in the global market. The company has 14 global representatives covering regions such as Bangladesh, Brazil, France, Germany, Israel, Italy, Netherlands, South Korea, South Africa, Sri Lanka, Turkey, the United Kingdom, the United States, and Vietnam. The company's export turnover has grown at a CAGR of 47.15% over the last three fiscal years.

Business Strategy and Future Prospects

Bansal Wire follows a de-risking strategy by ensuring no single customer accounts for more than 5% of its sales, and no sector exceeds 25% of its sales, creating a balanced and resilient business model. The company operates on a "Cost Plus model," which helps mitigate the impact of commodity price fluctuations. With a legacy of 38 years, the company continues to expand its market presence by adding a new segment of speciality wires through its upcoming plant in Dadri, which will be one of the largest single-location manufacturing facilities of steel wire in Asia. Bansal Wire's diversified product mix and flexible plant capabilities allow it to adapt to industry demands, ensuring sustained growth and profitability.

Bidding Starts In

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Bansal Wire IPO Specifics:

IPO DateJuly 3, 2024 to July 5, 2024
Listing DateWednesday, July 10, 2024
Face Value₹5 per share
Price Band₹243 to ₹256 per share
Lot Size58 Shares
Total Issue Size29,101,562 shares
(aggregating up to ₹745.00 Cr)
Fresh Issue29,101,562 shares
(aggregating up to ₹745.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue127,454,390
Share holding post issue156,555,952

Bansal Wire IPO Lot Size

Bidders have the opportunity to bid for a minimum of 58 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.

ApplicationLotsSharesAmount
Retail (Min)158₹14,848
Retail (Max)13754₹193,024
S-HNI (Min)14812₹207,872
S-HNI (Max)673,886₹994,816
B-HNI (Min)683,944₹1,009,664

Bansal Wire IPO Reservation

QIB Shares OfferedNot more than 50% of the Net offer
Retail Shares OfferedNot less than 35% of the Offer
NII (HNI) Shares OfferedNot less than 15% of the Offer

Bansal Wire IPO Timetable (Important Dates)

IPO Open DateWednesday, July 3, 2024
IPO Close DateFriday, July 5 2024
Basis of AllotmentMonday, July 8, 2024
Initiation of RefundsTuesday, July 9, 2024
Credit of Shares to DematTuesday, July 9, 2024
Listing DateWednesday, July 10, 2024
Cut-off time for UPI mandate confirmation5 PM on July 5, 2024

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Bansal Wire Industries Limited IPO Financial Information

Bansal Wire Industries Limited experienced a 1.99% increase in revenue and a 31.48% rise in profit after tax (PAT) between the financial years ending March 31, 2024, and March 31, 2023.

Period Ended31 Mar 202231 Mar 202331 Mar 2024
Assets695.48749.051264.01
Revenue2205.072422.572470.89
Profit After Tax57.2959.9378.80
Net Worth223.01282.51422.37
Reserves & Surplus213.91273.41358.64
Total Borrowing413.15422.19681.14
Amount in ₹ Crore

Key Performance Indicator - Bansal Wire IPO

KPIValues
Market CapRs 4,007.83 Cr
EPSRs 6.18
P/E (x)41.41
ROE21.19%
ROCE18.46%
Debt/ Equity1.48
RoNW18.27%
P/BV7.72
PAT Margin3.19%

Objects of the Issue:

The company intends to use the net proceeds from the issue for the following purposes:

  • Repayment or prepayment of all or part of certain outstanding borrowings by the company and its subsidiary.
  • Funding the company's working capital requirements.
  • General corporate purposes.

Prospectus Links:

Prospectus: Official documents that provide detailed information about the IPO and the company. Bansal Wire Industries Limited DRHP and Bansal Wire Industries Limited RHP.

Frequently Asked Questions

What is an IPO?

An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.

Why do companies go public with an IPO?

Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.

What is the price range for the "Bansal Wire Industries Limited" IPO?

The price range for the"Bansal Wire Industries Limited" IPO is ₹243 to ₹256 per share.

When will the "Bansal Wire Industries Limited" IPO be listed on the stock exchange?

The "Bansal Wire Industries Limited" IPO is expected to be listed on Wednesday, 10 July 2024.

How to apply for an IPO with Lakshmishree?

To apply for an IPO with Lakshmishree:
Go to www.lakshmishree.com/ipo
Select the desired IPO and fill in the required details.
Confirm your application and make the payment.
Once applied, you can track the status of your application on the platform or get in your registered Email ID.

How can I check the subscription status of an IPO on Lakshmishree?

Log in to your Lakshmishree account and navigate to the 'IPO' section. Here, you can view live updates on the subscription status of ongoing IPOs.

Written by Meghna Mundhra

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