Bansal Wire IPO share allotment expected soon. Check status, GMP, date of listing and other details

After the good response to the IPO, Bansal Wire is likely to finalize the share allotment on Monday. The issue was booked around 58 times due to strong interest from institutional and non-institutional investors. Investors can check their share allotment status by logging on to the BSE or the registrar’s website.

First, here is how you can know the status on BSE

Step 1: Visit the BSE website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, it is the company name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

To check the Bansal Wire IPO allotment status through the registrar, which in this case is Link Intime India, please follow the steps below.

Step 1: Visit Kfin Technologies website (https://rti.kfintech.com/iposatus/)

Step 2: Select Bansal Wire IPO

Step 3: Enter the PAN details and click on search to know the status

Also Read: IPO calendar: 1 IPO, 5 listings investors need to watch out for next week

Bansal Wire GMP

In the unlisted market, the company’s shares traded at Rs. 76 are being traded at a premium. This compares to an IPO price of 256, a 30% increase on listing day, which is set for July 10.

Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume with production of 72,176 MTPA and 206,466 MTPA respectively in FY23.

The company has a diversified portfolio, catering to a wide range of sectors such as automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture and auto replacement.

It manufactures more than 3,000 stock-keeping units, the highest among all steel wire manufacturers in India with sizes ranging from as thin as 0.04 mm to as thick as 15.65 mm.

With a diverse customer base of over 5,000 spread across various sectors, Bansal Wire Industries has established a strong network that contributes to its growth.

Over the years, the company has adopted a de-risking strategy, under which no single customer accounts for more than 5% of its sales, and no sector or segment accounts for more than 25% of sales.

Total revenue in FY21 was Rs. 1480 crore in FY23 to Rs. 2,422 crores. EBITDA grew by 16% during the same period to Rs. 1,15 crore, while PAT grew by 21.6% to Rs. 59.9 crores.

SBI Capital Markets and DAM Capital are acting as book-running lead managers for the IPO.

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