Subscribe Bansal Wire Industries Ltd; KR Choksey

KR Choksey, IPO report on Bansal Wire Industries Ltd

Bansal Wire Industries Limited specializes in manufacturing stainless steel wire across three segments: high carbon steel, low carbon steel (mild steel), and stainless steel. With a product range exceeding 3,000 types catering to diverse industries, the company serves over 5,000 customers globally, aided by a strong presence in over 50 countries through robust export operations. Around 70% of exports revenues are from US and Europe Wire Markets. Their primary market in India is concentrated in the North India. It is one of the second largest Steel wire manufacturer in India by volume and the largest Stainless Steel Wire manufacturer in India by volume.

Valuation and Outlook

We assign a 'SUBSCRIBE' to this IPO due to the improving strength of the balance sheet, available headroom for higher revenue growth driven by sufficient demand conditions and the additional capacity being added at the new Dadri Plant.