The initial public offer of steel wire manufacturer Bansal Wire Industries received 5.72 times subscription on the second day of bidding on Thursday.
The initial share sale received bids for 12,28,12,970 shares against 2,14,60,906 shares on offer, according to NSE data.
The quota for non-institutional investors was subscribed 12.16 times while the portion for Retail Individual Investors (RIIs) fetched 6.18 times subscription. The Qualified Institutional Buyers (QIBs) part received a mere 9 per cent subscription.
Bansal Wire Industries on Tuesday said it has collected over Rs 223 crore from anchor investors.
The public issue is an entirely fresh issue of equity shares worth Rs 745 crore, with no offer-for-sale (OFS) component.
The issue, with a price band of Rs 243-256 per share, will close for public subscription on July 5.
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 Indus

Post the aforesaid allotment, the issued and paid-up share capital of the Company shall be increased from Rs 1,27,27,97,050 (12,72,79,705 equity shares of face value of Rs 10 each) to Rs 1,27,29,32,170 (12,72,93,217 equity shares of face value of Rs 10 each).

GOCL Corporation announced that Coal India (CIL) in a letter dated 2July 2024 to IDL Explosives (IDL), a wholly owned subsidiary of the Company, has communicated IDL being barred for award of any contract / order by CIL or its subsidiaries for a period of two years. However, this will not affect the current running contracts (RC) which are effective up to May’25 for supply of cartridge explosives and accessories; and up to October’25 for supply of bulk explosives respectively. This action was due to not meeting a tender condition of stipulated local content in the supplies.

DY Chandrachud also emphasised that behind the effective functioning of our tribunals and courts, are the registrars, researchers and staff who keep the ‘machinery well-oiled’