New Delhi: Shares of steel wire maker Bansal Wire Industries Ltd on Wednesday closed at a premium of about 37 per cent 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. During the day it rose 44 percent to Rs 368.70. Shares of the company closed at Rs 350.30 with a gain of 36.83 percent.
The stock started trading at Rs 356, up 39 per cent, on NSE. It closed at Rs 350.15 per share with a jump of 36.77 percent.
The market valuation of the company stood at Rs 5,484.15 crore.
In terms of volume, 25.42 lakh shares of the company were traded on BSE and 273 lakh shares on NSE during the day.
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. During the day it rose 44 percent to Rs 368.70. Shares of the company closed at Rs 350.30 with a gain of 36.83 percent.
The stock started trading at Rs 356, up 39 per cent, on NSE. It closed at Rs 350.15 per share with a jump of 36.77 percent.
The market valuation of the company stood at Rs 5,484.15 crore.
In terms of volume, 25.42 lakh shares of the company were traded on BSE and 273 lakh shares on NSE during the day.
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.
