Bansal Wire Industries IPO: The IPO listing date has been set for today (Wednesday, July 10) at 10:00 IST on the bourses. According to the BSE website, Bansal Wire Industries’ share price will be listed on the BSE and NSE in a special pre-open session on Wednesday. Today’s share price for Bansal Wire Industries will be ready for trading at 10:00 IST.
The BSE has announced that starting Wednesday, July 10, 2024, trading members of the exchange will be eligible to trade Bansal Wire Industries Ltd equity shares by listing them in the ‘B’ Group of Securities list.
The price projection for Bansal Wire Industries’ initial public offering
Amit Goel, Co-Founder and Chief Global Strategist of Pace 360
“Founded in 1985, Bansal Wire Industries manufactures stainless steel wire. The company is organized into three business units: stainless steel wire, low carbon steel wire, and high carbon steel wire. The metal wire industry is both competitive and fragmented. We anticipate a listing at approximately ₹330-340 per share, resulting in a 30% gain. “Investors should book profits after the listing,” Goel suggested.
VLA Ambala, a co-founder of SMT and a SEBI-registered RA
Ambala claimed that Bansal Wire, a mainline initial public offering (IPO) valued at Rs. 745 crore, experienced an outstanding response in all categories on the last day of the sale, with 62.76 subscriptions. The proceeds of the IPO, priced at ₹243-256 per share, would cover working capital financing and prepayment. The company’s PAT was 57.29 in March 2022 and 78.80 in March 2024, indicating a robust financial condition and market presence.
“The market expects a listing above ₹315, and based on Bansal Wire’s market demand and financial standing, I expect a bumper listing of 42-65% for this IPO,” declared Ambala.
Prashanth Tapse is the Senior Vice President of Research at Mehta Equities
Even though the operational margin profile is likely to stay stable at around 6-7%, Tapse highlighted that Bansal Wire received an overwhelming reaction from all sorts of investors from the start to the end of the issuance. However, Prashanth expects a considerable increase in the bottom line, owing mostly to financial charges connected with repaying outstanding borrowings with the proceeds of the initial public offering. Despite sector challenges and a steady margin business plan, management is enthusiastic about the company’s multi-segmental growth possibilities.
Based on market sentiment and subscription demand, there is potential for a 25-30% listing gain compared to the issue price of ₹256 per share. Tapse continues to advise assigned investors to take profits on the day of the expected listing.
Bansal Wire Industries’ IPO GMP today
Bansal Wire’s IPO GMP today is +70. Investorgain.com reports that Bansal Wire Industries’ share price is selling at a premium of ₹70 in the gray market.
Bansal Wire Industries’ estimated listing price was ₹326 per share, 27.34% higher than the IPO price of ₹256, considering the top end of the IPO pricing band and the current premium on the grey market.
IPO GMP is on the rise and is likely to have a strong listing based on the movements of the previous 14 gray market sessions. According to analyst reports at investorgain.com, the GMP is between ₹0 and ₹76.
The “grey market premium” represents investors who are prepared to pay more than the issue price.
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
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