The preliminary public provide of metal wire producer Bansal Wire Industries obtained 1.76 occasions subscription on the primary day of bidding on Wednesday.

The preliminary share sale obtained bids for 3,77,76,154 shares towards 2,14,60,906 shares on provide, in response to NSE knowledge.

The quota for Retail Particular person Traders (RIIs) acquired subscribed 2.47 occasions whereas the portion for non-institutional traders fetched 2.44 occasions subscription. The Certified Institutional Consumers (QIBs) half obtained 1 per cent subscription.

Bansal Wire Industries on Tuesday stated it has collected over Rs 223 crore from anchor traders.

The general public difficulty is a completely contemporary difficulty of fairness shares value Rs 745 crore, with no offer-for-sale (OFS) part.

 

The problem, with a value band of Rs 243-256 per share, shall be open for public subscription throughout July 3-5.

Funds shall be used for the cost of debt, to assist the working capital necessities of the corporate, and for common company functions.

Bansal Wire Industries is engaged within the enterprise of producing and exporting metal wires. It operates in three broad segments’ excessive carbon metal wire, gentle metal wire (low carbon metal wire) and chrome steel wire.

Additionally, the corporate plans so as to add a brand new phase of speciality wires via its upcoming plant in Dadri, which is able to assist it develop and increase its market presence within the upcoming fiscal.

SBI Capital Markets and DAM Capital Advisors are the book-running lead managers to the difficulty.

First Revealed: Jul 03 2024 | 6:32 PM IST