📷 Image Credits: Mint
The recent bidding for Bansal Wire Industries Limited’s IPO has garnered significant attention from the Indian primary market investors. With the public issue worth ₹745 crore being oversubscribed by 59.57 times in just three days from 3rd to 5th July 2024, the focus has now shifted to the forthcoming Bansal Wire IPO allotment date on 8th July 2024. Market observers note that the grey market premium (GMP) for Bansal Wire IPO has seen a surge, currently standing at ₹70, which is ₹5 higher than the previous day’s premium of ₹65.
The robust subscription status of the Bansal Wire IPO and the positive sentiments in the Indian stock market have contributed to the rise in GMP. This increase to ₹70 showcases investor confidence in the IPO and hints at promising future performance of the company. The strong response from non-institutional investors (NII) and qualified institutional buyers (QIB) further reinforces the widespread interest in Bansal Wire Industries Limited.
Following the standard ‘T+3’ listing rule, the likely Bansal Wire IPO allotment date is scheduled for Monday, July 8th, 2024, while the anticipated listing date is Wednesday, July 10th, 2024. Once the allotment details are released, applicants can conveniently check their application status online on the BSE website. Additionally, they can visit the official registrar of the public issue, KFin Technologies Limited’s website, to access the allocation information.
The future outlook for Bansal Wire Industries seems promising with the positive market response to its IPO. With a diversified product portfolio and an established customer base, the company remains resilient to market volatilities. Moreover, the company’s strategic positioning and growth prospects have garnered positive reviews from brokerage firms, urging investors to consider subscribing to the IPO for potential returns. The IPO is set to be listed on both BSE and NSE, offering investors an opportunity to partake in the success story of Bansal Wire Industries Limited.
