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Bansal Wire shares list with a strong 39% premium at ₹356 apiece on NSE

BNE News Desk , July 10, 2024
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New Delhi: Bansal Wire Industries IPO Listing: Bansal Wire's stock market debut on Wednesday was successful due to high demand for its IPO. Bansal Wire stocks debuted on the NSE at a price of Rs 356 each, which represented a 39.06 percentage increase from the original price of Rs 256 per share.

On the Bombay Stock Exchange, Bansal Wire's stock started trading at a price of Rs 352.05 per share, showing a premium of 37.52 percentage. Bansal Wire Industries' shares are included in the ‘B’ Group of Securities list, as stated in a notification on the BSE. The listing of Bansal Wire IPO met street expectations. Analysts anticipated a premium of approximately 30 percentage - 40 percentage for the listing.

Prior to the IPO debut, Bansal Wire IPO GMP today stood at Rs 70 per share, representing a premium of 27.34 percentage. The subscription period for Bansal Wire IPO was from July 3 to July 5. The initial public offering (IPO) was met with strong interest from investors of all types.

The company collected  Rs 745 crore through the book built issue, consisting only of 2.91 crore new equity shares. There was no component of offer-for-sale (OFS) available. The price range for Bansal Wire IPO was established at Rs 243 to Rs 256 per share. The IPO allotment for Bansal Wire was completed on July 8th and the IPO will start trading on July 10th.

The Bansal Wire IPO saw a total subscription of 59.57 times, with bids received for 127.85 crore equity shares, surpassing the 2.14 crore shares offered. There was an oversubscription of 13.64 times in the retail category and 51.46 percentage in the Non Institutional Investors (NII) category. The portion reserved for Qualified Institutional Buyers (QIBs) was oversubscribed by a strong 146.05 times