Bansal Wire IPO: The bidding for the initial public offering (IPO) of Bansal Wire Industries Limited concluded last Friday, and the Bansal Wire IPO allotment status is now available. Those who have applied for the public issue can easily check their Bansal Wire IPO allotment status online by logging in at the BSE website or at the KFin Technologies' website.
For added convenience, Bansal Wire IPO applicants can use the direct BSE link — bseindia.com/investors/appli_check.aspx or the direct KFin Tech link — kosmic.kfintech.com/ipostatus to check their Bansal Wire IPO allotment status online. With the share allocation complete, attention now turns to the Bansal Wire IPO listing date, which is expected to be on 10th July 2024. Meanwhile, before the announcement of the Bansal Wire IPO listing date, the grey market has shown further interest in the Bansal Wire IPO. According to stock market observers, shares of Bansal Wire Industries Limited are available at a premium of ₹77, ₹2 higher than Monday's Bansal Wire IPO GMP (grey market premium) of ₹75.
As mentioned above, today's Bansal Wire IPO GMP is ₹77. Comparing the Bansal Wire IPO GMP with Friday last week, it has surged from ₹65 to ₹77, which is praiseworthy as bidding for the Bansal Wire IPO ended on Friday last week. Market observers believe that the rise in Bansal Wire IPO GMP can be attributed to two basic reasons: strong Bansal Wire IPO subscription status and positive sentiments in the Indian stock market.
Speaking on the expected Bansal Wire IPO listing price, market observers said that Bansal Wire IPO GMP today is ₹77, which means the grey market is expecting that Bansal Wire IPO listing price would be around ₹333 ( ₹256 + ₹77). So, the grey market hints that the Bansal Wire IPO listing may take place at a substantial 30 per cent premium against the upper price band of ₹256 per equity share.
However, stock market experts said GMP is not an ideal indicator for assessing the possible listing premium. They noted that the grey market is non-regulated and not connected to a company's financials. So, one should stick with the basics and rely on the company's balance sheet.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
