July 5, 2024
New Delhi, India
Bansal Wire IPO: Key Details For Investors
Bansal Wire Industries Limited, a prominent player in the steel wire industry, has launched its initial public offering (IPO). The IPO opened for bidding on July 3, 2024, and will close on July 5, 2024. As the final day for application approaches, the IPO has garnered significant interest from investors. Here’s a detailed look at the current grey market premium (GMP), subscription status, and other crucial details.
Subscription Status
As of 10:51 AM on the third day of bidding, the Bansal Wire IPO has been subscribed 8.15 times. Breakdown of the subscription:
- Retail Portion: Subscribed 7.74 times
- Non-Institutional Investors (NII): Subscribed 19.86 times
- Qualified Institutional Buyers (QIB): Subscribed 0.10 times
Grey Market Premium (GMP)
The grey market premium for Bansal Wire IPO is currently ₹65, showing an increase from ₹59 on the previous day. This rise in GMP indicates strong investor interest and positive market sentiment. Market observers attribute this uptick to robust subscription levels and favorable conditions in the secondary market.
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The high subscription rates, particularly in the NII segment, highlight the strong demand for the IPO.
IPO Details and Important Dates
- Bidding Period: July 3, 2024, to July 5, 2024
- Tentative Allotment Date: July 6, 2024
- Final Allotment Date (if delayed): July 8, 2024
- Expected Listing Date: July 10, 2024, following the ‘T+3’ listing rule
Should You Apply? Given the strong subscription levels and the positive grey market sentiment, the Bansal Wire IPO appears to be a promising investment opportunity. However, investors should consider their risk appetite and investment strategy before making a decision.
The Bansal Wire IPO has attracted significant interest from investors, reflected in its high grey market premium and robust subscription status. With the listing date approaching, prospective investors have a short window to apply and potentially benefit from this promising IPO.
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