Bansal Wire IPO: Allotment Status Announced – What GMP Predicts for Upcoming Share Listing

Bansal Wire IPO GMP Grey Market Indicates Listing Price Around ₹333 Per Share

Bansal Wire IPO: Bidding for the initial public offering (IPO) of Bansal Wire Industries Limited ended last Friday, and the allotment status is now available. Applicants can easily check their allotment status online by logging in to the BSE website or KFin Technologies’ website.

For 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 allotment status online. With the share allocation finalized, the focus now shifts to the expected listing date of 10th July 2024. Meanwhile, the grey market has shown increased interest in the Bansal Wire IPO. According to market observers, shares of Bansal Wire Industries Limited are currently trading at a premium of ₹77, up ₹2 from Monday’s GMP of ₹75.

Today’s Bansal Wire IPO GMP

As of today, the Bansal Wire IPO grey market premium (GMP) stands at ₹77. This marks a significant increase from last Friday’s GMP of ₹65, reflecting a notable surge since the IPO bidding concluded. Market analysts attribute this rise in GMP to two primary factors: the robust subscription status of the Bansal Wire IPO and the positive sentiment prevailing in the Indian stock market.

Bansal Wire IPO Listing Price Prediction

Regarding the anticipated listing price of the Bansal Wire IPO, market analysts note that today’s GMP of ₹77 suggests an expected listing price of approximately ₹333 per share (₹256 + ₹77). This indicates that the grey market anticipates a substantial 30% premium over the upper price band of ₹256 per equity share when the Bansal Wire IPO goes public.

However, stock market experts caution that GMP is not a reliable indicator for predicting the potential listing premium. They emphasize that the grey market is unregulated and not linked to the company’s financial performance. Therefore, it is advisable to focus on the fundamentals and rely on the company’s balance sheet for a more accurate assessment.

Disclaimer: The opinions and suggestions mentioned are those of individual analysts or brokerage firms and do not reflect the views of Mint. Investors are encouraged to consult with certified professionals before making any investment choices.