Bharat Wire Ropes to make stock market debut tomorrow

Bharat Wire Ropes, which recently concluded its Rs 70 crore IPO, will list shares on the bourses tomorrow.
The IPO of Bharat Wire Ropes was oversubscribed 1.21 times.
The Maharashtra-based specialty wire ropes manufacturer had fixed the price band at Rs 40-45 for the IPO which was open for subscription from March 18-22, 2016.
The company has fixed the issue price at Rs 45.
The IPO was managed by Intensive Fiscal Services and BOB Capital Markets.
The equity shares of the company are proposed to be listed on BSE and NSE.
The proceeds will be utilised for setting up a manufacturing plant at Chalisgaon in Maharashtra and for other general corporate purposes.

Bharat Wire is the fifth company after HealthCare Global Enterprises, Quick Heal Technologies, TeamLease Services and Precision Camshafts to come out with an IPO this year.