New Delhi: Shares of steel wire maker Bansal Wire Industries Ltd on Wednesday debuted in the market with a 39 per cent premium over the issue price of Rs 256.
The stock was listed at Rs 352.05 on BSE, showing a jump of 37.51 per cent. It rose 44 percent to Rs 368.70.
It started trading on NSE at Rs 356 with a gain of 39 per cent.
The market valuation of the company stood at Rs 5,329.16 crore.
The initial public offering of Bansal Wire Industries was subscribed 59.57 times on the last day of bidding on Friday.
The price range of the initial share sale of Rs 745 crore was Rs 243-256 per share.
The public issue was a completely fresh issue of equity shares worth Rs 745 crore, with no offer for sale (OFS) component.
The funds will be used to repay loans, support the working capital requirements of the company and for general corporate purposes.
Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wires. It operates in three broad segments – High Carbon Steel Wire, Mild Steel Wire (Low Carbon Steel Wire) and Stainless Steel Wire.
Additionally, the company is planning to add a new segment of specialty wires through its upcoming plant in Dadri, which will help it grow and expand its market presence in the upcoming financial year.
The stock was listed at Rs 352.05 on BSE, showing a jump of 37.51 per cent. It rose 44 percent to Rs 368.70.
It started trading on NSE at Rs 356 with a gain of 39 per cent.
The market valuation of the company stood at Rs 5,329.16 crore.
The initial public offering of Bansal Wire Industries was subscribed 59.57 times on the last day of bidding on Friday.
The price range of the initial share sale of Rs 745 crore was Rs 243-256 per share.
The public issue was a completely fresh issue of equity shares worth Rs 745 crore, with no offer for sale (OFS) component.
The funds will be used to repay loans, support the working capital requirements of the company and for general corporate purposes.
Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wires. It operates in three broad segments – High Carbon Steel Wire, Mild Steel Wire (Low Carbon Steel Wire) and Stainless Steel Wire.
Additionally, the company is planning to add a new segment of specialty wires through its upcoming plant in Dadri, which will help it grow and expand its market presence in the upcoming financial year.
