Bansal Wire Industries Limited gets Sebi’s go-ahead to raise ₹745 crores via IPO

IPOWatch Team
May 25, 2024

IPOWatch Team

Bansal Wire Industries Limited, is going to raise ₹745 crores from the public via an Initial Public Offering (IPO) that includes fresh issues of ₹1.4 crores and an OFS of 45,00,000 equity shares by its existing shareholders, and promoters as per the DRHP data. The company gets Sebi's nod to float an IPO. The company's Mainboard IPO is proposed to be listed on the NSE and BSE indices. The face value of the equity shares of Vraj Iron and Steel Limited is ₹10. The retail quota is 35%, QIB is 50%, and HNI is 15%.

The promoters of the Company are Arun Gupta, Anita Gupta, Pranav Bansal and Arun Kumar Gupta HUF. The registrar of the IPO is KFin Technologies Limited. The book-running lead managers of the Bansal Wire Industries Limited IPO are Axis Capital, DAM Capital Advisors, and JM Financial.

The company reported revenue of ₹24,225.68 million in 2023 against revenues of ₹22,050.72 million in 2022. The PAT was 599.30 million in 2023 against 572.90 million in 2022. The peer group of the company is Rajratan Global Wire Limited.

Bansal Wire Industries is involved in manufacturing and exporting steel wires. The company operates in three main segments: high carbon steel wire, mild steel wire (low carbon steel wire), and stainless steel wire.

Additionally, it plans to introduce a new segment of speciality wires through its upcoming plant in Dadri, which will enable the company to grow and expand its market presence in the upcoming fiscal years.

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