Bansal Wire Industries IPO papers filed for Rs 745 crore fund elevating
Metal wire producer Bansal Wire Industries has filed preliminary papers with capital markets regulator Sebi to lift Rs 745 crore by way of an Preliminary Public Providing (IPO).
The maiden public difficulty is a completely contemporary difficulty of fairness shares with no offer-for-sale (OFS) part, in response to the Draft Purple Herring Prospectus (DRHP) filed on January 18.
Funds shall be used for the fee of debt, to assist the working capital necessities of the corporate, and for normal company functions.
Bansal Wire Industries is engaged within the enterprise of producing and exporting metal wires. It operates in three broad segments — excessive carbon metal wire, gentle metal wire (low carbon metal wire) and chrome steel wire.
Additionally, the corporate plans so as to add a brand new section of specialty wires by way of its upcoming plant in Dadri, which can assist it develop and develop its market presence within the upcoming fiscals.
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The corporate’s whole revenue elevated at a CAGR of 28 p.c to Rs 2,422.56 crore in fiscal 2023 from Rs 1,480.41 crore in fiscal 2021, and revenue after tax (PAT) surged at a compound annual progress price (CAGR) of 21.7 p.c to Rs 59.93 crore in fiscal 2023 from Rs 40.46 crore in fiscal 2021.
SBI Capital Markets and DAM Capital Advisors are the e-book working lead managers to the problem.
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