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Emcure Pharmaceuticals and Bansal Wire Industries will make their debut on Dalal Street this week, the latter of which plans to raise Rs 745 crore through an initial public offering (IPO).
SBI Capital Markets and DAM Capital Advisors are acting as book running lead managers for this issue, with Kfin Technologies Limited acting as its registrar.
Date
Bansal Wire Industries is India’s second-largest steel wire manufacturer and offers an expansive array of products tailored to diverse industries. Their portfolio features high carbon, low carbon, and stainless steel wires – as well as employing risk mitigation strategies such as diversifying customers in order to hedge against fluctuations in commodity prices.
The company’s initial public offering (IPO) is valued at Rs745 crore, and proceeds from it will be used for debt repayment and working capital needs, as well as investments that will strengthen and position its business for further expansion.
The initial public offering (IPO) will open its doors on July 3, with share prices between Rs243-256 per share. Investors can apply through online brokers Zerodha or TradeSmart Online or use the ASBA application process at their bank; applications close July 5. The application deadline is July 5.
Review
Bansal Wire Industries IPO is an equity book-building issue, with 745 crore shares available for subscription. The funds raised through this offering will be used to repay or prepay outstanding borrowings as well as meet working capital needs; any excess proceeds may also be utilized for general corporate purposes.
This company produces an array of steel wire products suitable for multiple applications. Their strong reputation in India extends overseas; their exports reach over 50 nations. Their specialties include stainless steel and low carbon wires. Furthermore, their cost-plus model protects their business against fluctuations in raw material prices.
Ghaziabad and Bahadurgarh facilities, with an annual capacity of 259,000MTPA for high carbon, mild steel, and stainless steel wire production, serve India and export over 50 countries via 14 global representatives – their revenues and profits depend heavily on performance of steel wire industry.
Price
Steel wire manufacturer Bansal Wire Industries has set an initial public offering (IPO) price range between Rs 243-256 per share for their IPO, scheduled to open for subscription July 3-6 and close July 5 respectively. They plan to raise approximately Rs 745 crore through this IPO; proceeds from it will be utilized towards paying off or prepaying certain outstanding debts, meeting working capital requirements, as well as general corporate purposes.
This company boasts an impressive and varied customer base of more than 5,000 across various sectors, and an active export business. They have put into effect a risk management plan which ensures no single customer accounts for more than 5% of sales while no single sector accounts for more than 25%.
Investors can utilize the ASBA process to apply for shares in an initial public offering (IPO). They should ensure they have their net banking access information and DP ID information ready before filing their applications.
Allotment
The company has set aside at least 50% of their issue for qualified institutional buyers and retail investors, 15% for non-institutional investors, with allocation quotas for each category in relation to total proposed shares issued. KFin Technologies Ltd will act as the registrar for Bansal Wire’s initial public offering (IPO), providing allotment status online as well as refund eligibility status to those not allotted shares by KFin.
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