Bansal Wire Industries IPO Allotment

Bansal Wire Industries IPO Allotment: Check Application Status as GMP Rises

The IPO of New Delhi-based Bansal Wire Industries, which was open for bidding from July 03 to July 05, offered its shares in a fixed price band of Rs 243-256 per share with a lot size of 58 shares.

Key Highlights of the IPO:

• Strong Investor Response: Bansal Wire Industries received a robust response from investors, with the issue being oversubscribed by 59.57 times. The quota for qualified institutional bidders (QIBs) was oversubscribed by a remarkable 146.05 times, while non-institutional investors bid 51.46 times. Retail investors showed strong interest, subscribing 13.64 times during the three-day bidding process.
• Grey Market Premium (GMP) Surge: Following vigorous bidding, Bansal Wire Industries saw its Grey Market Premium (GMP) rise significantly. Currently, the company commands a premium of Rs 75-80 per share, indicating a potential listing gain of approximately 30% for investors, up from Rs 60 per share when the bidding closed.
• Business Overview: Incorporated in December 1985, Bansal Wire Industries specializes in manufacturing stainless steel wire across three segments: high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. The company boasts a diverse portfolio of over 3,000 steel wire products.
• Brokerage Recommendations: Most brokerage firms have expressed positive sentiments towards the IPO, citing a robust business model, strong growth prospects, rising product demand, and seasoned management. Key risks highlighted include limited market reach in southern India and fluctuations in raw material prices.

Listing Details:

• The shares of Bansal Wire Industries will be listed on both BSE and NSE with Wednesday, July 10, scheduled as the listing date.

Allotment Process and Checking Status:

Investors who participated in the Bansal Wire Industries IPO can check their application status using the following methods:

Via BSE Website:

1. Visit BSE India Investors Page.
2. Select “Equity” under the issue type.
3. Choose “Bansal Wire Industries Ltd” from the drop-down menu under issue name.
4. Enter your application number and PAN card ID.
5. Complete the captcha verification and click submit.

Via KFin Technologies Portal:

1. Visit the KFin Technologies Limited IPO Status Portal here.
2. Select the IPO of Bansal Wire Industries (name will be visible only if allotment is finalized).
3. Choose your preferred mode of verification: Application number, Demat Account number, or PAN ID.
4. Enter the details as per the mode selected in step 2.
5. Fill in the captcha for security verification and submit.

About the Registrar: KFin Technologies Limited, a SEBI-registered entity, is the registrar for the issue. It electronically processes all applications and oversees the allotment process as per regulatory requirements. The registrar ensures timely updates on share credits, refunds, and addresses investor queries. Bansal Wire Industries IPO Allotment

For further assistance, investors can visit the respective portals or contact their financial advisors. Bansal Wire Industries IPO Allotment

Conclusion

Bansal Wire Industries’ IPO has garnered substantial investor interest, reflected in its oversubscription and rising Grey Market Premium (GMP). With a strong business model and positive brokerage recommendations, the company is poised for a promising debut on the stock exchanges. Investors eagerly await the listing on both BSE and NSE scheduled for Wednesday, July 10. For those who participated in the IPO, checking allotment status is straightforward via the BSE website or KFin Technologies’ online portal. As the allotment process concludes, stakeholders anticipate a listing pop, underscoring the market’s confidence in Bansal Wire Industries’ future prospects.

Bansal Wire Industries IPO Allotment

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