Bansal Wire IPO: GMP, subscription status, review, allotment, listing date, other details. Apply or not? | Stock Market News

The Bansal Wire Industries Limited IPO (Initial Public Offering) started on 3rd July 2024 and will end today, 5th July 2024. Bansal Wire Industries is a leading company in the steel wire sector. This IPO has drawn strong interest from investors right from the start. With just one day left to apply, shares of Bansal Wire are seeing a lot of interest in the grey market, where they are currently selling at a ₹65 premium.

Grey Market Premium (GMP) for Bansal Wire IPO:

Today, the grey market premium (GMP) for Bansal Wire IPO is ₹65, up from ₹59 yesterday. This rise is due to the strong demand for the IPO and positive overall market trends. Investors are feeling optimistic about the stock, leading to higher prices in the grey market.

Bansal Wire IPO Subscription Status:

By 10:12 AM on the final day of bidding, the IPO was subscribed 6.44 times. Here’s the breakdown:

• Retail investors: 6.74 times
• Non-Institutional Investors (NII): 14.19 times
• Qualified Institutional Buyers (QIB): 0.10 times

Expert Opinions on Bansal Wire IPO:

Rajan Shinde, Mehta Equities:

Rajan Shinde recommends subscribing to the Bansal Wire IPO, even though the price is on the higher side at ₹256 per share. He points out that while the company’s price-to-earnings ratio is 50.86 times, which seems high compared to its peers, the company is expected to grow strongly in the next financial year. Bansal Wire is in a phase of consolidation and is likely to show significant growth by 2025. Shinde believes the company’s involvement in the growing Indian steel wire industry makes it a good long-term investment. He also expects the stock to see a listing gain of at least 25%.

Arun Kejriwal, Kejriwal Research and Investment Services:

Arun Kejriwal notes that although the IPO is priced slightly higher, the current market trends suggest there could be a decent profit on listing day. He advises investors to consider booking profits soon after the stock lists. Kejriwal also mentions that Bansal Wire’s capacity is expected to double next year, but the financial benefits may take a few years to appear in their balance sheet. He suggests that investors might want to buy the stock again at lower prices for a long-term hold.

Important Dates for Bansal Wire IPO:

Allotment Date: Expected to be announced on 6th July 2024 or 8th July 2024 if delayed to Monday.

• Listing Date: Expected to be 10th July 2024.

Keep an eye on these dates if you’re applying for the Bansal Wire IPO or awaiting the results of your application.