Bansal Wire Industries Limited Set to Launch IPO on July 3, 2024

Bansal Wire IPO: Opens on July 3, 2024, with a price band of ₹243 to ₹256 per share

Proceeds Utilization: For debt repayment, working capital, and general corporate purposes

BILKULONLINE

Ahmedabad, July 1: Bansal Wire Industries Limited, a leading manufacturer of stainless steel wire, is gearing up to launch its Initial Public Offering (IPO) on Wednesday, July 3, 2024. The issue will close on Friday, July 5, 2024. With a price band fixed between ₹243 to ₹256 per equity share, investors have the opportunity to bid for a minimum lot size of 58 shares, with subsequent bids in multiples of 58 shares.

The IPO, valued at ₹745 crores, is entirely a fresh issue comprising 2.91 crore shares. Retail investors can participate with a minimum investment of ₹14,848, while sNII (Small Non-Institutional Investors) and bNII (Big Non-Institutional Investors) can bid for 14 lots (812 shares) at ₹207,872 and 68 lots (3,944 shares) at ₹1,009,664, respectively.

Incorporated in December 1985, Bansal Wire Industries Limited has established itself as a significant player in the steel wire industry. The company operates in three main segments: high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. With over 3,000 different types of steel wire products, ranging from very thin to very thick, Bansal Wire caters to a diverse customer base of more than 5,000 clients across various industries. This diversification helps mitigate risk by avoiding reliance on a single customer or customer type.

Bansal Wire’s products are exported to over 50 countries, underscoring its strong international presence. The company has 14 global representatives covering countries such as Bangladesh, Brazil, France, Germany, Israel, Italy, Netherlands, South Korea, South Africa, Sri Lanka, Turkey, the United Kingdom, the United States, and Vietnam. The export turnover has seen a remarkable CAGR of 47.15% over the last three fiscal years.

The company operates four manufacturing units located in Mohan Nagar, Ghaziabad, Loni Industrial Area, Ghaziabad, and Bahadurgarh, Jhajjar, Haryana. Since 2021, a dedicated sales team of over 50 professionals has been covering all regions of India, serving an extensive customer base.

Bansal Wire aims to use the net proceeds from the IPO for several strategic purposes: repaying or prepaying certain outstanding borrowings, funding working capital requirements, and for general corporate purposes. The allotment of shares is expected to be finalized on July 8, 2024, with the listing anticipated on July 10, 2024, on both BSE and NSE.

Management Interaction:
In a recent media interaction in Ahmedabad, key management members of Bansal Wire were present to discuss the company’s growth trajectory and future plans. The attendees included:

Arun Gupta, Chairman
Pranav Bansal, Managing Director and CEO
Ghanshyam Gujarati, CFO
Deepak Bansal, Executive Director
Amit Shah, Vice President (Sales and Marketing)
Rajesh Singh, Head of Operations

Disclaimer: Investors must thoroughly study the company profile and details before investing.