Trilegal and AZB & Partners have advised on Bansal Wire Industries’ INR 7.45 billion (USD89 million) IPO on the NSE.
AZB counselled Bansal Wire on the IPO, with the team comprising senior partners Varoon Chandra and Agnik Bhattacharyya, counsel Rahul Aggarwal, senior associate Rajat Chadha, and associates Anusha Mehta, Tanaiy Tewari, Yagnesh Sharma and Damini Mathur.
Trilegal advised the book-running lead managers, SBI Capital Markets and DAM Capital Advisors. Partner Richa Choudhary and counsel Avanti Kale led the Trilegal team, with help from associates Maitreya Rajurkar, Aayush Khandelwal, Shivayana Balodia and Urmil Shah.
Bansal Wire Industries, together with its subsidiary Bansal Steel & Power, are the largest manufacturers of stainless-steel wire. The company offers more than 3,000 products across the high carbon steel wire, mild steel wire, and stainless-steel wire segments.
Proceeds from the IPO will be used for the repayment of debt and working capital requirements. The issue was subscribed 59.57 times, and the equity shares debuted strongly on 10 July, listing at a premium of 39% above the issue price.
