Bansal Wire Industries IPO Subscribed 5.73 Times by Day 2! Check Subscription Status, GMP, and More
The initial public offering (IPO) of Bansal Wire Industries opened for subscription on July 3. As of the second day of bidding, the IPO has been subscribed over 5.73 times.
Retail investors showed strong interest, with the retail portion subscribed 6.19 times on July 4. The non-institutional investors (NII) category was booked 12.16 times, while the qualified institutional buyers (QIB) category was subscribed 0.09 times.
On the second day, the Bansal Wire Industries IPO received 12,28,88,254 applications for the 2,14,60,906 shares offered.
In the Bansal Wire Industries IPO, up to 50% of the shares are reserved for QIBs, at least 15% for NIIs, and a minimum of 35% for retail investors.
Bansal Wire Industries IPO Details
The Bansal Wire IPO is valued at ₹745 crore and consists solely of a fresh issue of 29,101,562 equity shares, with no offer-for-sale (OFS) component.
The price band is set at ₹243 to ₹256 per equity share with a face value of ₹5.
The company’s primary objectives, as outlined in its memorandum of association, are to conduct its current commercial operations and to pursue projects proposed to be funded with the net proceeds from the IPO.
SBI Capital Markets Limited and Dam Capital Advisors Ltd (formerly Idfc Securities Ltd) are the book running lead managers for the Bansal Wire IPO, with Kfin Technologies Limited acting as the registrar.
Bansal Wire Industries IPO GMP Today
The Grey Market Premium (GMP) for Bansal Wire IPO is +58, indicating that Bansal Wire Industries shares are trading at a premium of ₹58 in the grey market, according to investorgain.com.
The expected listing price for Bansal Wire Industries is ₹314 per share, which represents a 22.66% increase over the IPO price of ₹256. This is based on the upper end of the IPO pricing band and the current grey market premium.
The GMP reflects investors’ willingness to pay above the issue price, indicating positive market sentiment.
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