Bansal Wire Industries is set to debut on Dalal Street with a Rs 745-crore initial public offering (IPO) on July 3, with the price band to be announced on June 28. This marks the second public issue opening in July, following Emcure Pharmaceuticals.
The IPO, comprising solely a fresh issue by the Delhi-based company, will close on July 5, while the anchor book will open on July 2.
Bansal Wire Industries, which manufactures steel wires, operates through four established facilities in the National Capital Region—three in Ghaziabad (UP) and one in Bahadurgarh (Haryana). The company operates in three segments: high carbon steel wire, mild steel wire (low carbon steel wire), and stainless steel wire, contributing 22.14%, 8.21%, and 51.92% to FY24 revenue, respectively. Additionally, the company plans to introduce a new segment of specialty wires through a plant in Dadri.
The IPO proceeds will be used to repay Rs 452.7 crore of the company’s debt, Rs 93.7 crore of its subsidiary’s debt, and Rs 60 crore for working capital, with the remainder allocated for general corporate purposes. Half of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors (high net worth individuals), and 35% for retail investors.
SBI Capital Markets and DAM Capital Advisors are the book running lead managers for the issue.