Bansal Wire Industries has filed draft papers with SEBI to raise INR 745 crore through an initial public offering for the payment of debt, to support the company’s working capital requirements, and for general corporate purposes.

Jan 19, 2024

Bansal Wire Industries, a leading steel wire manufacturer, has filed draft papers with SEBI to raise INR 745 crore through an initial public offering. According to the Draft Red Herring Prospectus (DRHP), the IPO is a fresh issue of equity shares, without Offer-For-Sale (OFS). The funds are planned to be utilized for the repayment of debt, to cover the working capital requirements of the company, and for general purposes. The company has planned an addition of a new segment of specialty wire in its new plant in Dadri, which will enhance its market footprint and help in the growth of the company.