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- By Aditya Pratap Singh
- Wed, 10 Jul 2024 11:58 AM (IST)
- Source:JND
Bansal Wire Industries IPO Listing: The Strong subscription rate of the initial public offering (IPO) of Bansal Wire resulted in a decent stock market debut for the company's shares on Wednesday i.e. July 10. Bansal Wire shares were listed at Rs 356 apiece on the National Stock Exchange (NSE), a premium of 39.06% against the upper band of the issue price of Rs 256 per share. Meanwhile, on BSE, Bansal Wire shares began trading at a premium of 37.52% at Rs 352.05 per share.
The company's IPO listing was in line with the early estimates as various analysts had expected a listing premium of around 30%-40%.
Prior to the IPO listing, Bansal Wire shares were trading at a premium of Rs 70 per share on the grey market (GMP), which was a premium of 27.34 percent. Bansal Wire IPO was open for subscription from July 3 to July 5. The IPO received a strong response from investors throughout the board.
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The company raised Rs 745 crore from the book-built issue, which was a sale of entire fresh equity shares. The IPO did not consist of any offer-for-sale (OFS) component. The Bansal Wire IPO price range was set at Rs 243 to Rs 256 per share.
The allotment of the Bansal Wire IPO was finalized on July 8, and the IPO was scheduled to list on July 10. The IPO was subscribed 59.57 times overall, as the issue received bids for 127.85 crore equity shares as compared to 2.14 crore shares on offer.
In the retail category, the issue was subscribed 13.64 times, and in the Non-Institutional Investors (NII) category, it was subscribed 51.46 percent. The Qualified Institutional Buyers (QIBs) portion was subscribed 146.05 times.
SBI Capital Markets and Dam Capital Advisors Ltd are the book-running lead managers for the Bansal Wire IPO, while Kfin Technologies is the IPO registrar. Anita Gupta, Arun Gupta, Pranav Bansal, and Arun Kumar Gupta HUF are the promoters of the company.