New Delhi: Steel wire manufacturer Bansal Wire Industries on Friday said it has fixed a price band of Rs 243 to Rs 256 per share for its Rs 745-crore initial public offering (IPO).The initial share-sale will open for public subscription during July 3-5.
The bidding for anchor investors will open for a day on July 2, the company announced. The maiden public issue is an entirely fresh issue of equity shares worth Rs 745 crore, with no offer-for-sale (OFS) component. Funds will be used for the payment of debt, to support the working capital requirements of the company, and for general corporate purposes.
Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wires. It operates in three broad segments — high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire.