Bharat Wire Ropes Limited (BWR) which had tapped the markets with its issue to raise Rs 70 crs was subscribed. The issue was a compulsory 75% QIB issue. The price band was Rs 40-45 and the company is setting up an integrated wire to wire ropes factory in Chalisgaon Maharashtra at a cost of Rs 500 crs. The company enjoys a mega project status and is eligible for state incentives like stamp duty, electricity duty and VAT refund.

The issue was subscribed with each of the bucks oversubscribed except employee quota which wqas undersubscribed. The overall issue was subscribed 1.21 times.

Full details of the subscription are given below: –