Bansal Wire Industries, a steel wire products manufacturer, exceeded expectations with a robust debut on the stock exchanges. It opened at ₹356 per share—a notable 39.4 per cent increase from its issue price of ₹256. This impressive performance eclipsed the pre-listing anticipation.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., noted the company’s strong subscription rate, reflecting investor confidence in Bansal Wire’s established market position, diverse product portfolio, and consistent financial track record. However, Nyati cautioned about the challenges posed by the company’s operations in a competitive and fragmented market.
Despite the stellar listing, Nyati advises investors to maintain their positions with a stop-loss set at ₹321, emphasising the importance of considering associated risks carefully. This listing success underscores investor optimism in Bansal Wire’s prospects while urging prudent investment strategies amid market dynamics.
Also read: IPO screener: Bansal Wire to debut on bourses with strong subscription
