Bansal Wire IPO Listing Tomorrow: Stock likely to debut at over 28% premium


Bansal Wire IPO listing is scheduled for tomorrow, Wednesday, July 10, 2024. The IPO allotment was finalized on Monday, July 8, 2024. For those who have been allocated shares, the shares will be credited to their demat accounts today, Tuesday, July 9. Additionally, the refund process for those who did not receive shares will also be completed today. Here’s what you need to know about the Bansal Wire IPO listing tomorrow.

Bansal Wire IPO Listing Tomorrow

On the final day of subscription, Friday, July 5, Bansal Wire IPO received 59.57 times the number of subscriptions, according to BSE data. The qualified institutional buyer (QIB) segment was oversubscribed 146.1 times, while the non-institutional investor quota saw 51.5 times subscriptions. The retail individual investor (RII) quota was oversubscribed 13.6 times. The IPO, which opened on Wednesday, July 3, had a price band set between INR 243 – 256 per share.

In the Bansal Wire IPO, 15% of the shares are allocated for non-institutional investors (NII), 35% are designated for retail investors, and 50% are reserved for qualified institutional buyers (QIB).

Bansal Wire IPO

Bansal Wire IPO GMP

Investors are also considering the market opportunity and the unique premium of India’s second-largest steel wire manufacturer company about to enter the market. Consequently, there is a significant grey market premium (GMP), offering a profit potential. Let’s examine what the GMP for Bansal Wire IPO has indicated in the last few days ahead of its listing.

Over the past eight days (1 – 9 July), the average grey market premium (GMP) for Bansal Wire IPO was INR 66.75 per share, with today’s GMP being at INR 72 per share. This indicates that Bansal Wire shares were trading at a premium of INR 72 in the grey market, according to IPOCentral’s GMP tracker. Accordingly, the anticipated listing price for Bansal Wire IPO is pegged at INR 328 per share. This figure represents a 28.13% profit from the IPO price of INR 256 per share, factoring in the upper limit of the IPO pricing range and the current premium observed in the grey market.

The term “Grey market premium” signifies the willingness of investors to pay a price higher than the initial offering price. While trading in this parallel market is not recognized by stock exchanges, the grey market has worked reasonably well to anticipate listing prices. Most recently, shares of Allied Blenders & Distillers and Stanley Lifestyles had strong starts on their stock market debuts, as indicated by the grey market.

Bansal Wire IPO Details

Bansal Wire’s IPO subscription commenced on July 3, 2024, and concluded on July 5, 2024. The IPO is purely a fresh issue of 2,91,01,562 shares, valuing the offering between INR 707.17 – 745 crores. The price band for the IPO is fixed at INR 243 – 256 per share. The market lot for Bansal Wire IPO is 58 shares, with a minimum application amount of INR 14,848.

Bansal Wire Industries is India’s second-largest steel wire manufacturer by volume. In Fiscal 2023, Bansal Wire produced 72,176 metric tons per annum (MTPA) of stainless steel wire and 206,466 MTPA of steel wire, which translates to a market share of 20% and approximately 4%, respectively.

The company offers a diverse product range with over 3,000 stock-keeping units (SKUs), the highest among Indian steel wire manufacturers. Their wire sizes range from as thin as 0.04 mm to as thick as 15.65 mm. Bansal Wire boasts a well-diversified customer base of more than 5,000 clients across various sectors, which supports its sustained growth.

Bansal Wire IPO Listing FAQs

What are Bansal Wire IPO dates?

Bansal Wire’s IPO subscription commenced on July 3, 2024, and concluded on July 5, 2024.

When is the Bansal Wire IPO listing expected?

Bansal Wire IPO listing date is Wednesday, July 10, 2024.

Can we buy an IPO on the listing date?

You can place a buy order at a desired price for the IPO shares on the listing day after 10 AM.


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