7 things to know about Bansal Wire Industries IPO

Bansal Wire Industries Limited is a 1985-established business entity engaged in the manufacture of various ranges of stainless-steel wire products totaling more than 3,000 varieties. Participate in their upcoming IPO with ease using HDC Sky's One-Click IPO feature. Participate effortlessly using your existing UPI account.?

Here's what you need to know:?

1.Growing company?

Bansal Wire Industries is a company on the rise, steadily increasing its market share in the Indian steel wire industry.?

2. Leading manufacturer?

They're one of the top manufacturers of steel wires in India, with a strong presence all across the country and a diverse range of products.?

3. Strong customer base??

With over 5,000 customers from various sectors, Bansal Wire Industries has built a solid foundation of loyal clients.?

4. Experienced team?

Their team consists of seasoned professionals who possess a deep understanding of the steel wire industry.?

5. Global presence?

Bansal Wire Industries exports its products to more than 50 countries worldwide and has made a name for itself in the global market.?

6. Financially sound?

As of March 31, 2024, the company's finances are looking good, with a Return on Equity (ROE) of 21.19%, a Debt/Equity ratio of 1.48, and a Net Worth of 422.37 Cr.?

?7. IPO proceeds for growth?

The company plans to utilize the funds raised through the IPO to fuel its expansion plans, including the development of new manufacturing facilities, meeting working capital requirements, and furthering general corporate development.?

About Bansal Wire Industries Ltd.?

Bansal Wire Industries Limited is one of the biggest manufacturers of steel wires across India. The company manufactures high carbon steel wire, mild steel wire or low carbon steel wire, stainless steel wire, and more than 3,000 different types of steel wire products. They have a pan-India presence and global presence in more than 50 countries through exports of their products, hence making them a better and bolder performer in the global market.?

It has representatives in 14 countries, which includes Bangladesh, Brazil, France, Germany, Israel, Italy, Netherlands, South Korea, South Africa, Sri Lanka, Turkey, the United Kingdom, the United States of America, and Vietnam. The export turnover has grown at a CAGR of 47.15% in the last three fiscals.?

Key Details of IPO?

• Issue Sub open: July 3, 2024; closes: July 5, 2024.?

• Price band: ?243 to ?256 per equity share.?

• Minimum Lot size of Application is 58 equity shares.?

• The IPO is an entirely fresh issue of shares. No existing shares are being sold by the company.?

Objectives of the IPO?

• The company proposes to utilize the fresh issue proceeds, for repayment or prepayment of, a portion or all of the outstanding borrowings.??

• Funding working capital requirements of the company.??

• General corporate purposes.??

Bansal Wire Industries Financials as per 31 Mar 2024 (all values in Cr)??

• Assets: 1,264.01??

• Revenue: 2,470.89??

• Profit After Tax: 78.80??

• Net Worth: 422.37??

• Reserves and Surplus: 358.64 Conclusion?

Bansal Wire Industries has built up a strong presence in the Indian steel wire market. The business is diversified by products with existing customers and is spread across various parts of the globe, hence providing investors opportunities to invest in a growing company that has future expansion plans.?

Supported by strong financials and the ease of investing through HDFC SKY's One-Click IPO—Bansal Wire Industries has bright prospects to be in your portfolio.?