Bansal Wire IPO Subscription Status

Last updated on July 5, 2024

Bansal Wire IPO subscription started on 3 July 2024 and will close on 5 July 2024. Bansal Wire plans to raise around INR 745 crores via the IPO. The price band is fixed at INR 243 – 256 per share. The Bansal Wire IPO market lot has 58 shares and the minimum application amount is INR 14,848. The retail quota is 35%, QIB is 50% and NII is 15%.

Check Bansal Wire IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. The public issue has QIB, NII, and Retail categories for the subscription. Here you can find Bansal Wire IPO subscription status segregated by days and investor categories.

Bansal Wire IPO Subscription Status – Live Updates

Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.

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.

Investor Categories in Bansal Wire IPO Subscription

The three most important categories of IPO investors defined by SEBI are part of the Bansal Wire IPO.

Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.

Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.

Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.

The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).

Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors. 

Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.

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Bansal Wire IPO Subscription Status FAQs