Bansal Wire Industries files draft papers to mobilise Rs 745 crore via IPO

Steel wire manufacturer Bansal Wire Industries Ltd has filed preliminary papers with
capital markets regulator Sebi to raise Rs 745 crore through an Initial Public Offering
(IPO).
The maiden public issue is an entirely fresh issue of equity shares with no Offer-For-Sale
(OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on
Thursday.

Funds will be used for the payment of debt, to support the working capital requirements
of the company, and for general corporate purposes.
Bansal Wire Industries is engaged in the business of manufacturing and exporting steel
wires. It operates in three broad segments high carbon steel wire, mild steel wire (low
carbon steel wire) and stainless steel wire.