Bharat Wire Ropes in public issue

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Bharat Wire Ropes listed its shares on the Bombay Stock Exchange and National Stock Exchange on 1 April. The company issued 15.6 million equity shares with a face value of ₹10 each for cash at a price of ₹45 per equity share (including a share premium of ₹35 per equity share), for a total of ₹700 million (US$10.5 million). The issue comprised a net issue to the public of 14.8 million shares and reservation of 777,777 shares for subscription by eligible employees. The issue constituted 34.6% of the post-issue paid-up equity share capital and the net issue to the public constituted 32.87% of the post-issue paid-up equity share capital of Bharat Wire Ropes.

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