Bansal Wire shares list with a strong 39% premium at ₹356 apiece on NSE

Bansal Wire Industries IPO Listing: Bansal Wire share price made a decent stock market debut on Wednesday led by strong demand for its initial public offering (IPO). Bansal Wire shares were listed at ₹356 apiece on the NSE, a premium of 39.06% to the issue price of ₹256 per share.

On BSE, Bansal Wire share price began trading with a 37.52% premium at ₹352.05 per share.

Bansal Wire Industries shares are listed in the ‘B’ Group of Securities list, according to a notice on the BSE.

Bansal Wire IPO listing was in-line with the street estimates. Analysts expected a listing premium of around 30% - 40%.

Ahead of the IPO listing, Bansal Wire IPO GMP today, or grey market premium today, was ₹70 per share, indicating a premium of 27.34%.

Bansal Wire IPO was open for subscription from July 3 to July 5. The IPO received robust demand from investors across the board.

The company raised ₹745 crore from the book built issue which was entirely a fresh issue of 2.91 crore equity shares. There was no offer-for-sale (OFS) component. Bansal Wire IPO price band was set at ₹243 to ₹256 per share.

Bansal Wire IPO allotment was finalized on July 8 and the IPO listing date was set at July 10.

Bansal Wire IPO was subscribed 59.57 times in total as the issue received bids for 127.85 crore equity shares as against 2.14 crore shares on the offer.

The issue was booked 13.64 times in the retail category and 51.46% in the Non Institutional Investors (NII) category. The Qualified Institutional Buyers (QIBs) portion was subscribed by a robust 146.05 times.

SBI Capital Markets and Dam Capital Advisors Ltd are the book running lead managers of the Bansal Wire IPO, while Kfin Technologies is the IPO registrar.

Arun Gupta, Anita Gupta, Pranav Bansal and Arun Kumar Gupta HUF are the promoters of the company.

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