Bharat Wire Ropes Ltd (BWRL) entered the capital markets with its initial public offering (IPO). The IPO consists of public issue to raise up to Rs 70 crore. The objects of the net proceeds is to set up a proposed fully integrated wire rope plant under one roof of 66,000 MTPA at Chalisgaon, in the Jalgaon district of Maharashtra. The project cost is Rs 507.18 crore, out of which the company has made firm tie up from seven banks to the extent of Rs 330 crore. BWRL, established in 1986, is engaged in the business of manufacturing wire ropes.