Bansal Wire IPO will open for subscription from 03 July 2024. The company aims for an issue size of ₹745 Cr through this IPO.
Company Overview
| Full name | Bansal Wire Industries Limited |
| Sector | Iron & Steel |
| Industry | Steel & Iron Products |
| Company Website | https://bansalwire.com/ |
About Company
Bansal Wire Industries is India’s second-largest steel wire manufacturer by volume. In Fiscal 2023, Bansal Wire produced 72,176 metric tons per annum (MTPA) of stainless steel wire and 206,466 MTPA of steel wire, which translates to a market share of 20% and approximately 4%, respectively. The company offers a diverse product range with over 3,000 stock-keeping units (SKUs), the highest among Indian steel wire manufacturers. Their wire sizes range from as thin as 0.04 mm to as thick as 15.65 mm. Bansal Wire boasts a well-diversified customer base of more than 5,000 clients across various sectors, which supports its sustained growth.
Bansal Wire has a significant presence across India and extends its reach to over 50 countries through exports, reinforcing its status as a major player in the global market. The company operates four manufacturing facilities in Ghaziabad and on the Delhi-Rohtak Road in Asaudha, Bahadurgarh, and Jhajjar, Haryana. These facilities collectively have an installed capacity of 259,000 MTPA for mild steel, high carbon, and stainless steel wires.
The Objectives of the Issue
- Repayment or prepayment of all or a portion of certain outstanding borrowings availed by our Company and our Subsidiary;
- Funding the working capital requirements of the company and
- General corporate purposes.
Bansal Wire IPO Timetable
| IPO Opening date | 03 July 2024 |
| IPO Closing | 05 July 2024 |
| Basis of Allotment | 08 July 2024 |
| Initiation Refund | 09 July 2024 |
| Credit to Demat Account | 09 July 2024 |
| Listing Date | 10 July 2024 |
Bansal Wire IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹745 Cr – 29,101,562 shares |
| Fresh Issue | ₹745 Cr – 29,101,562 shares |
| Offer for sale | Nil |
| Face value | ₹05 per share |
| Price Band | ₹243 to ₹256 per share |
| Lot size | 58 Shares |
| Shareholding pre-issue | 127,454,390 |
| Shareholding post-issue | 156,555,952 |
| Listing Exchange | BSE & NSE |
Bansal Wire IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 58 | ₹14,848 |
| Retail (Max) | 13 | 754 | ₹193,024 |
| S-HNI (Min) | 14 | 812 | ₹207,872 |
| S-HNI (Max) | 67 | 3,886 | ₹994,816 |
| B-HNI (Min) | 68 | 3,944 | ₹1,009,664 |
Bansal Wire Offer Documents
Bansal Wire Offer Reservation Details
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 8,730,468 (30.00%) | NA |
| QIB Shares Offered | 5,820,313 (20.00%) | NA |
| NII (HNI) Shares Offered | 4,365,234 (15.00%) | |
| bNII > ₹10L | 2,910,157 (10.00%) | 3,583 |
| sNII < ₹10L | 1,455,078 (5.00%) | 1,791 |
| Retail Shares Offered | 10,185,547 (35.00%) | 175,612 |
| Total Shares Offered | 29,101,562 (100%) |
Bansal Wire Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 2,198.36 | 2,413.01 | 2,466.03 |
| Expenses | 2,126.94 | 2,341.01 | 2,363.84 |
| Net income | 57.29 | 59.93 | 78.80 |
| Margin (%) | 2.61 | 2.48 | 3.20 |
Bansal Wire Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 4.49 | 4.70 | 6.18 | 5.03 |
| PE Ratio | – | – | 39.32 – 41.42 | 48.29 – 50.88 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 25.69 | 21.21 | 18.27 |
| NAV | 17.49 | 22.16 | 33.13 |
| EBITDA (%) | 5.13 | 4.73 | 6.04 |
| ROCE (%) | 18.59 | 17.34 | 18.46 |
| Debt/Equity Ratio | 1.85 | 1.49 | 1.48 |
Company Promoters
- Arun Gupta
- Anita Gupta
- Pranav Bansal
- Arun Kumar Gupta HUF.
Promoter Holding
| Pre Issue Share Holding | 73.60% |
| Post Issue Share Holding | 59.92% |
Bansal Wire IPO GMP Update
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 9 July 2024 | 72 | – | 3,100 |
| 8 July 2024 | 70 | – | 3,000 |
| 6 July 2024 | 65 | – | 2,800 |
| 5 July 2024 | 60 | – | 2,600 |
| 4 July 2024 | 62 | – | 2,700 |
| 3 July 2024 | 65 | – | 2,750 |
| 2 July 2024 | 70 | – | 3,000 |
| 1 July 2024 | 70 | – | 3,000 |
Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Bansal Wire Industries | 41.42 | 6.18 | 18.27 | 33.13 | 2,470.89 |
| Rajratan Global Wire | 41.68 | 14.15 | 15.41 | 97.03 | 898.68 |
| DP Wires | 18.94 | 23.43 | 17.39 | 145.93 | 1,221.31 |
| Bedmutha Industries | 37.52 | 6.28 | 19.04 | 37.23 | 748.15 |
Bansal Wire IPO Subscription Update
| Category | Subscription (times) |
|---|---|
| QIB | 153.86 |
| NII | 54.21 |
| bNII (bids above ₹10L) | 55.27 |
| sNII (bids below ₹10L) | 52.11 |
| Retail | 14.37 |
| Total | 62.76 |
Bansal Wire IPO Allotment Status
Bansal Wire IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
Bansal Wire IPO Listing Details
| Listing Date | 10 July 2024 |
| BSE Scrip Code | 544209 |
| NSE Symbol | BANSALWIRE |
| ISIN | INE0B9K01025 |
| Final Issue Price | ₹256 per share |
Bansal Wire IPO Listing Day Update
| Listing Exchange | BSE | NSE |
| Final Issue Price | ₹256.00 | ₹256.00 |
| Open | ₹352.05 | ₹356.00 |
| Low | ₹335.85 | ₹336.00 |
| High | ₹368.70 | ₹372.00 |
| Last Trade | ₹350.30 | ₹350.35 |
Bansal Wire IPO Lead Manager(s)
- SBI Capital Markets Limited
- Dam Capital Advisors Ltd
Bansal Wire Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: bwil.ipo@kfintech.com
Website: www.kfintech.com
Bansal Wire Contact Details
BANSAL WIRE INDUSTRIES LIMITED
F-3, Main Road, Shastri Nagar, Delhi-110052
Phone: 011-2365 1891/92/93
Email: investorrelations@bansalwire.com
Website: www.bansalwire.com
Bansal Wire IPO FAQs
How many shares in Bansal Wire IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Bansal Wire Public Offer?
The best way to apply for Bansal Wire public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Bansal Wire IPO GMP today?
Bansal Wire IPO GMP today is INR 72 per share.
What is Bansal Wire kostak rate today?
Bansal Wire kostak rate today is INR NA per application.
What is Bansal Wire Subject to Sauda rate today?
Bansal Wire Subject to Sauda rate today is INR 3,100 per application.
Final thoughts
Bansal Wire IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
