Bansal Wire IPO Subscription Reached 6.03x On Day 2

Bansal Wire IPO witnessed an increased subscription from investors on the second day of bidding

Bansal Wire IPO price band has been set at ₹243 to ₹256 per share. The minimum lot size for an application is 58 Shares. The minimum amount of investment required by retail investors is ₹14,848.

Bansal Wire IPO offers 2,91,01,562 shares. 58,20,313 (20.00%) to QIB, 43,65,234 (15.00%) to NII, 1,01,85,547 (35.00%) to RII and 87,30,468 (30.00%) to Anchor investors. 1,75,612 RIIs will receive a minimum of 58 shares, and 1,791 (sNII) and 3,583 (bNII) will receive a minimum of 812 shares.

Day Wise Subscription

On 1st Day, Bansal Wire IPO subscribed 1.85 times. The public issue subscribed 2.60 times in the retail category, 0.01 times in QIB, and 2.57 times in the NII category.

On 2nd Day, Bansal Wire IPO subscribed 6.03 times. The public issue subscribed 6.51 times in the retail category, 0.10 times in QIB, and 12.81 times in the NII category.

Grey Market Premium

The last GMP for Bansal Wire IPO is ₹58. With a price band of ₹256.00, the estimated listing price is ₹314 (cap price + today’s GMP). The expected percentage gain/loss per share is 22.66%.

About Bansal Wire Industries Limited

Bansal Wire Industries Ltd. (BWIL), along with its Subsidiary, Bansal Steel & Power Limited, offers over 3000 SKUs (i.e., stock-keeping units) in three broad segments, i.e., high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire, with Company’s offering of approximately 2,000 SKUs and its Subsidiary’s offering of 1,500 SKUs. Further, approximately 500 SKUs are common in both the company and subsidiary.

High-carbon steel wires refer to wires made from high-carbon steel with 0.30% to 1.00% carbon. They are known for their exceptional strength, hardness, and durability. They are used in applications where these properties are crucial, such as in the manufacturing of springs, cutting tools, and various industrial components that require resilience and resistance to wear and fatigue.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.