Bansal Wire IPO: Oversubscribed 59.57 Times on Final Day! Expected Listing Price, GMP, and Subscription Status Revealed | Stock Market News
Bansal Wire Industries Ltd’s IPO has received a tremendous response on its third and final day. Investors, including qualified institutional buyers (QIBs), non-institutional investors (NIIs), and retail investors, have shown strong interest. As of 17:12 IST, the IPO was oversubscribed by 59.57 times, according to BSE data.
Oversubscription Details
The IPO saw bids for 1,27,85,11,574 shares against the 2,14,60,906 shares on offer. The breakdown of the subscriptions is as follows:
- QIBs: 146.05 times
- NIIs: 51.46 times
- Retail Investors: 13.64 times
The company reserved up to 50% of the shares for QIBs, 15% for NIIs, and 35% for retail investors.
IPO Overview
The Bansal Wire IPO, which began on Wednesday, July 3, and ended on Friday, July 5, was priced between ₹243 and ₹256 per share.
Prashanth Tapse, Research Analyst at Mehta Equities, commented on the strong interest from all investor segments and expressed optimism about the IPO’s performance. He also noted that both the Bansal Wire and Emcure Pharma IPOs are expected to deliver substantial returns over their issue prices.
Company Profile
Bansal Wire Industries Ltd specializes in manufacturing steel wire. Alongside its affiliate, Bansal Steel & Power Limited, it offers over 3,000 different product units (SKUs). The company’s products include:
- Mild Steel (Low Carbon Steel Wire)
- Stainless Steel Wire
- High Carbon Steel Wire
Grey Market Premium (GMP) Today
As of today, Bansal Wire’s grey market premium is ₹75, suggesting a listing price of ₹331 per share. This is a 29.3% increase from the IPO’s upper price band of ₹256 per share. The grey market premium reflects investor willingness to pay more than the issue price.
IPO Management
The IPO, valued at ₹745 crore, consists entirely of a fresh issue of 29,101,562 equity shares with no offer-for-sale (OFS) component. SBI Capital Markets Limited and Dam Capital Advisors Ltd managed the IPO, and Kfin Technologies Limited served as the registrar.
Strong Response Over Time
- Day 1: Subscribed 1.76 times
- Day 2: Subscribed 5.73 times
The Bansal Wire IPO has been highly successful, attracting significant interest from all types of investors and showing strong potential for gains based on the current grey market premium.
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