Bansal Wire Industries IPO opens tomorrow: GMP, issue details, 10 key things to know before subscribing to the issue

Bansal Wire Industries IPO opens for subscription on tomorrow (Wednesday, July 3). In three main categories—high carbon steel wire, mild steel wire (low carbon steel wire), and stainless steel wire—the company and its subsidiary, Bansal Steel & Power Ltd, provide over 3000 SKUs (stock keeping units). Thecompany offers about 2000 SKUs, while their subsidiary offers 1500 SKUs. Additionally, around 500 SKUs are shared between their company and its subsidiary.

Since its founding, the firm has marketed and sold its goods under the "BANSAL" brand, which enjoys a solid reputation as a reliable brand in the marketplace. In addition to helping to sustain sales momentum, the company's numerous efforts to promote its brands and goods have produced an outstanding customer retention ratio of more than 64% as of Fiscal 2024, Fiscal 2023, and Fiscal 2022.

The firm uses five production sites to produce its products. To meet the required production standards, these methods combine mechanised and human talents. With 14 international representatives, the firm exports its goods to a number of nations, including Bangladesh, Brazil, France, Germany, Israel, Italy, the Netherlands, South Korea, South Africa, Sri Lanka, Turkey, the United Kingdom, the United States of America, and Vietnam. In fiscal 2024, the company's export turnover was ₹283.94 crore, with over 70% of its total exports going to the US and European markets.

Between FY 2022 and FY 2024, the company's total income climbed at a compound annual growth rate (CAGR) of 5.86% to ₹2,470.89 crore. Their PAT climbed at a CAGR of 17.28% from ₹57.29 crore in fiscal 2022 to ₹78.8 crore in fiscal 2024, while the company's EBITDA expanded at a CAGR of 14.87% from ₹113.15 crore in fiscal 2022 to ₹149.31 crore in fiscal 2024.

Here are the 10 key things to know about Bansal Wire Industries IPO:

Bansal Wire Industries IPO date: The issue opens for subscription on Wednesday, July 3, and closes on Friday, July 5.

Bansal Wire Industries IPO price band: Bansal Wire IPO price band has been fixed in the range of ₹243 to ₹256 per equity share of face value of ₹5.

Bansal Wire Industries IPO lot size: The issue's lot size is 58 equity shares and in multiples of 58 equity shares thereafter.

Anchor investors: The allocation to anchor investors for Bansal Wire IPO is scheduled to take place today (Tuesday, July 2).

Bansal Wire IPO details: The initial public offering of Bansal Wire Industries, worth ₹745 crore, is completely a fresh issue of 29,101,562 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

Bansal Wire Industries IPO Objective: The main aims of the company are described in its memorandum of association, together with auxiliary and incidental purposes that help to achieve them. The aforementioned objectives enable the corporation to: (i) execute its ongoing business activities; and (ii) execute the projects that are recommended to be funded using the net revenues.

Bansal Wire IPO listing date and allotment details: The Bansal Wire Industries initial public offering (IPO) basis for share allocation is expected to be finalized on Monday, July 8. The business will start processing refunds on Tuesday, July 9, and the shares will be credited to the allottees' demat accounts on the same day. Bansal Wire Industries shares are likely to be listed on BSE and NSE on Tuesday, Wednesday, July 10.

Lead Manager and Registrar of Bansal Wire Industries IPO: The book running lead managers of the Bansal Wire IPO are SBI Capital Markets Limited and Dam Capital Advisors Ltd (formerly Idfc Securities Ltd), with Kfin Technologies Limited serving as the issue's registrar.

Bansal Wire Industries IPO reservation: 15% of the shares in the public offering of Bansal Wire Industries have been allocated for non-institutional institutional investors (NII), 50% of the shares are reserved for qualified institutional buyers (QIB), and a minimum of 35% of the offer is designated for retail investors.

Bansal Wire Industries IPO GMP today: Bansal Wire IPO GMP today is +65. This indicates Bansal Wire Industries share price were trading at a premium of ₹65 in the grey market, according to investorgain.com.

Bansal Wire Industries expected listing price was ₹321 per share, 25.39% more than the IPO price of ₹256, taking into account the top end of the IPO pricing band and the existing premium on the grey market.

Investor willingness to pay over the issue price is indicated by the “grey market premium.”