Bansal Wire Industries IPO allotment: Check application status as GMP rises
The IPO of New Delhi-based Bansal Wire was open for bidding between July 03 and July 05, which offered its shares in the fixed price band of Rs 243-256 per share with a lot size of 58 shares.
- Jul 8, 2024,
- Updated Jul 8, 2024 11:54 AM IST
Bansal Wire Industries is scheduled to finalise share allotment basis on Monday, July 8. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by Monday or by Tuesday, July 9. The stainless steel wire maker had received a strong response from the investors.
The IPO of Bansal Wire Industries was open for bidding between July 03 and July 05. The New Delhi-based company had offered its shares in the fixed price band of Rs 243-256 per share with a lot size of 58 shares. The company raised a little about Rs 745 crore via its primary offering, which was entirely an offer for sale of 2,91,01,562 equity shares.
The issue saw a solid bidding and was overall subscribed 59.57 times. The quota for qualified institutional bidders (QIBs) was booked a stellar 146.05 times The quota for non-institutional investors was subscribed a whopping 51.46 times. The portion reserved for retail investors saw bidding for13.64 times during the three-day bidding process.
Grey market premium (GMP) of Bansal Wire Industries has seen a sharp upside after a strong bidding for the issue. Last heard, the company was commanding a premium of Rs 75-80 per share, suggesting a listing pop of around 30 per cent for the investors. However, it was around Rs 60 apiece, when the issue had closed for the bidding.
Bansal Wire Industries, incorporated in December 1985, is a stainless steel wire manufacturing company. The company operates in three main segments including high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. The company makes over 3,000 different types of steel wire products.
Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it on the back of robust business model, strong growth prospects, rising demand of products and long-term experience of the management. However, limited reach in the southern Indian and raw material price fluctuations are the key risks for the company.
DAM Capital Advisors (Formerly IDFC Securities) and SBI Capital Markets are the book running lead managers of the Bansal Wire IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Wednesday, July 10 as the date of listing.
Investors, who had bid for the issue of Bansal Wire Industries, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Bansal Wire Industries Ltd in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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Bansal Wire Industries is scheduled to finalise share allotment basis on Monday, July 8. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by Monday or by Tuesday, July 9. The stainless steel wire maker had received a strong response from the investors.
The IPO of Bansal Wire Industries was open for bidding between July 03 and July 05. The New Delhi-based company had offered its shares in the fixed price band of Rs 243-256 per share with a lot size of 58 shares. The company raised a little about Rs 745 crore via its primary offering, which was entirely an offer for sale of 2,91,01,562 equity shares.
The issue saw a solid bidding and was overall subscribed 59.57 times. The quota for qualified institutional bidders (QIBs) was booked a stellar 146.05 times The quota for non-institutional investors was subscribed a whopping 51.46 times. The portion reserved for retail investors saw bidding for13.64 times during the three-day bidding process.
Grey market premium (GMP) of Bansal Wire Industries has seen a sharp upside after a strong bidding for the issue. Last heard, the company was commanding a premium of Rs 75-80 per share, suggesting a listing pop of around 30 per cent for the investors. However, it was around Rs 60 apiece, when the issue had closed for the bidding.
Bansal Wire Industries, incorporated in December 1985, is a stainless steel wire manufacturing company. The company operates in three main segments including high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. The company makes over 3,000 different types of steel wire products.
Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it on the back of robust business model, strong growth prospects, rising demand of products and long-term experience of the management. However, limited reach in the southern Indian and raw material price fluctuations are the key risks for the company.
DAM Capital Advisors (Formerly IDFC Securities) and SBI Capital Markets are the book running lead managers of the Bansal Wire IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Wednesday, July 10 as the date of listing.
Investors, who had bid for the issue of Bansal Wire Industries, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Bansal Wire Industries Ltd in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
ReplyReply allForward
Attendee panel closed