Bansal Wire’s stock price debuted strongly on Wednesday, driven by robust demand for its initial public offering (IPO). The NSE listed Bansal Wire shares for ₹356, which was 39.06% more than the share issue price of ₹256.
At ₹352.05 per share, Bansal Wire’s share price started trading on the BSE at a 37.52% premium.
According to a notice on the BSE, Bansal Wire Industries’ shares are now listed in the ‘B’ Group of Securities.
Subscription for the Bansal Wire IPO was open from July 3 through July 5. All types of investors showed strong interest in the IPO.
The firm raised ₹745 crore through a fresh issue of 2.91 crore equity shares. There was no “offer for sale” (OFS) component. The price band for the Bansal Wire IPO was set at ₹243 to ₹256 per share.
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