Bansal Wire IPO Listing : Investors who got shares in Bansal Wire Industries Limited IPO got a big boost today. Bansal Wire has got a strong listing in the stock market today. The company’s share was listed on BSE at a price of Rs 352, while the upper price band in the IPO was Rs 256. In this sense, investors have made a profit of 38 percent or Rs 96 per share on listing. This IPO was subscribed 63 times overall, while there was a craze about it in the grey market as well. Brokerage houses are positive on the company’s outlook. Now the question is whether to sell the shares after the listing gains or hold on.
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Bansal Wire : It was subscribed 63 times
Bansal Wire’s IPO received an overall subscription of about 63 times. 35 percent of the IPO was reserved for retail investors and it was subscribed 14.37 times. 50 percent of it was reserved for qualified institutional buyers i.e. QIB and it was subscribed 153.86 times overall. While 15 percent of the IPO was reserved for non-institutional investors i.e. NII and it was subscribed 54.21 times overall.
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Company Outlook
According to brokerage house Anand Rathi, Bansal Wire Industries Limited has achieved a revenue of Rs 2466 crore in FY 2024, strengthening its strong market position and brand value. Serving more than 5000 customers across various industrial sectors, the company is exhibiting strong market presence.
The company and its subsidiary, Bansal Steel & Power Limited, offer a comprehensive portfolio of steel wire products with a total of over 3000 SKUs across high carbon steel, mild steel (low carbon) and stainless-steel wires. Bansal Wire Industries Limited itself offers around 2000 SKUs, while its subsidiary contributes around 1500 SKUs.
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Risks and positive factors with the company
Brokerage house SBI Securities has mentioned some risk factors associated with the company.
• Disruption in supply of raw materials
• Volatility in raw material costs
• Slowdown in steel wire market
• Changes in arrangements with global representatives
Brokerage house SBI Securities has pointed out some positive factors with the company.
• The company is expanding its customer base
• The company is focused on increasing exports
• The company is focusing on expanding in the retail sector
• Improved margin profile by focusing on high-margin products
(Disclaimer: Investing or selling stocks is advised by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)