Bansal Wire Industries IPO listing date today. Latest GMP, experts see share listing price at strong premium

Bansal Wire Industries IPO: Bansal Wire Industries IPO listing date has been scheduled for today (Wednesday, July 10) on the bourses at 10:00 IST. The information on the BSE website states that during Wednesday's deals, Bansal Wire Industries share price will list on the BSE and NSE in a special pre-open session. Bansal Wire Industries share price today will be available for trade from 10:00 IST.

The BSE has announced that, as of Wednesday, July 10, 2024, trading members of the exchange would be able to make trades in Bansal Wire Industries Ltd equity shares by listing them in the 'B' Group of Securities list.

Bansal Wire Industries IPO listing price prediction

Amit Goel, Co-Founder & Chief Global Strategist, Pace 360

“Bansal Wire Industries is a stainless-steel wire manufacturing company, incorporated in 1985. The company is divided into three business segments: stainless steel wire, low carbon steel wire, and high carbon steel wire. The metal wire industry is a highly competitive and fragmented market. We expect a listing at around ₹330-340 per share, resulting in a listing gain of around 30%. Post-listing, investors should book profits,” advised Goel.

VLA Ambala, SEBI Registered RA and Co-Founder of SMT

Ambala stated that Bansal Wire, a mainline initial public offering (IPO) valued at Rs. 745 crore, received an amazing response on its last day of the offering in all categories, with 62.76 subscriptions. Working capital finance and prepayment would be covered by the IPO's proceeds, which will be offered at a set price range of ₹243–256 per share. As reflected by its solid financial position and market presence, the company's PAT was 57.29 in March 2022 and 78.80 in March 2024.

“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,” said Ambala.

Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities

Despite knowing that the operating margin profile is expected to remain steady at roughly 6-7%, Tapse noted that Bansal Wire received an overwhelming response from all types of investors from the first to the last day of the issue. However, Prashanth anticipates a significant increase in the bottom line, primarily driven by financial costs associated with repaying outstanding borrowings from the proceeds of the initial public offering. Notwithstanding obstacles in the sector and a stable margin business plan, management is optimistic about the company's prospects for multi-segmental growth.

In light of the market sentiment and subscription demand, there appears to be ample opportunity for a robust listing gain of approximately 25-30% relative to the issue price of ₹256 per share. Tapse continues to advise allocated investors to book profits on the day of the anticipated listing.

Bansal Wire Industries IPO GMP today

Bansal Wire IPO GMP today is +70 . This indicates Bansal Wire Industries share price were trading at a premium of ₹70 in the grey market, according to investorgain.com.

Bansal Wire Industries expected listing price was ₹326 per share, 27.34% more than the IPO price of ₹256, taking into account the top end of the IPO pricing band and the existing premium on the grey market.

IPO GMP is heading upward and is expected to have a solid listing based on the actions of the past 14 sessions of the gray market. According to analysts at investorgain.com, the lowest GMP is ₹0 and the maximum GMP is ₹76.

Investor willingness to pay over the issue price is indicated by the “grey market premium.”

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.