After receiving a strong response, Bansal Wire is set to finalize its IPO share allotment on Monday. The issue was subscribed nearly 58 times, driven by significant interest from both institutional and non-institutional investors. Here’s how investors can check the status of their share allotment.
How to Check Allotment Status on BSE:
- Visit the BSE Website here.
- Select the issue name (Bansal Wire IPO) from the dropdown menu.
- Enter your application number or PAN number to check the allotment status.
How to Check Allotment Status on the Registrar’s Website:
- Visit the Kfin Technologies website here.
- Select Bansal Wire IPO.
- Enter your PAN details and click search to see the status.
Bansal Wire GMP
In the unlisted market, Bansal Wire shares are trading at a premium of ₹76. With an IPO price of ₹256, this suggests a potential gain of 30% on the listing day, scheduled for July 10.
Company Overview
Bansal Wire is the largest stainless steel wire manufacturer and the second-largest steel wire manufacturer in India, with production volumes of 72,176 MTPA and 206,466 MTPA, respectively, in FY23. The company has a diverse product portfolio, serving sectors like automotive, general engineering, infrastructure, consumer durables, power and transmission, agriculture, and auto replacement.
Bansal Wire manufactures over 3,000 different products, with sizes ranging from 0.04 mm to 15.65 mm, the highest among steel wire manufacturers in India. The company serves over 5,000 customers across various sectors, ensuring no single customer accounts for more than 5% of its sales, and no sector exceeds 25% of total sales.
Financial Performance
Bansal Wire’s total income grew at a CAGR of 28% from ₹1,480 crore in FY21 to ₹2,422 crore in FY23. During the same period, EBITDA grew by 16% to ₹115 crore, and PAT increased by 21.6% to ₹59.9 crore.
Book-Running Lead Managers
SBI Capital Markets and DAM Capital are acting as the book-running lead managers for the IPO.
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