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Bansal Wire Industries, a steel wire manufacturer, has submitted draft papers to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) to raise ₹745 crore. The IPO consists of an entirely fresh issue of equity shares, with the funds earmarked for debt payment, supporting working capital needs, and general corporate purposes. The company manufactures and exports high-carbon steel wire, mild steel wire, and stainless steel wire segments. It aims to introduce a new speciality wires segment through an upcoming plant in Dadri.
Bansal Wire Industries is engaged in 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.
Also, the company plans to add a new segment of speciality wires through its upcoming plant in Dadri, which will help it grow and expand its market presence in the upcoming fiscals.
The company's total income increased at a CAGR of 28 per cent to ₹2,422.56 crore in fiscal 2023 from ₹1,480.41 crore in fiscal 2021, and Profit After Tax (PAT) surged at a Compound Annual Growth Rate (CAGR) of 21.7 per cent to ₹59.93 crore in fiscal 2023 from ₹40.46 crore in fiscal 2021.
SBI Capital Markets and DAM Capital Advisors are the book-running lead managers to the issue.
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