AZB & Partners advised Bansal Wire Industries Limited on its initial public offering, which was undertaken by way of a fresh issue of equity shares for an amount aggregating to ₹ 7,450 million
The book running lead managers to the initial public offering were SBI Capital Markets Limited and DAM Capital Advisors Limited.
The AZB team comprised Senior Partners, Varoon Chandra and Agnik Bhattacharyya; Counsel, Rahul Aggarwal; Senior Associate, Rajat Chadha; and Associates, Anusha Mehta, Tanaiy Tewari, Yagnesh Sharma and Damini Mathur.
Shares of Bansal Wire Industries had a strong start on the NSE, opening at Rs 356, a significant 39 percent premium over the IPO price of Rs 256 on July 10. The IPO, which exclusively offered 2.91 crore new shares, was well-received following its bidding phase from July 3 to July 5. The price range for the IPO was between Rs 243 and Rs 256 per share. Bansal Wire’s public offer, valued at Rs 745 crore, attracted bids for over 67 crore equity shares, oversubscribing the initial offer size by 31.25 times.
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