The company sold 87.30 lakh shares to 18 funds at Rs. 256, which is also the upper end of the price band. This brings the transaction size to Rs. 223.5 crore, he added.
First Public Issue Rs. 745 crore is an entirely fresh issue of equity shares, with no offer-for-sale (OFS) component.
per share Rs. 243 to Rs. The issue with a price band of 256 will be open for public subscription from July 3-5.
The funds will be used to repay debt, support the Company’s working capital requirements and for general corporate purposes.
Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wire. It operates in three broad segments high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire.
Also, the company plans to add a new segment of specialty wire through its upcoming plant in Dadri, which will help it grow and expand its market presence in the next financial year.
The total revenue of the company in FY 2021 is Rs. 1,480.41 crore in FY23 at a CAGR of 28 percent to Rs. 2,422.56 crore and profit after tax (PAT) rose at a compound annual growth rate (CAGR) of 21.7 percent to Rs. 59.93. In FY21 Rs. 40.46 crores in FY23.
Half of the issue size is reserved for qualified institutional investors (QIB), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Further, investors can bid for a minimum of 58 shares and in multiples of 58 thereafter.
SBI Capital Markets and DAM Capital Advisors are the book running lead managers to the issue.
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