Excellent Wires and Packaging IPO: Key points to remember

• Excellent Wires and Packaging IPO is a fixed-price issue worth up to Rs 12.60 crores.
• Bidding opens on September 11 and closes on September 13, 2024.
• Excellent Wires and Packaging SME IPO price is set at Rs 90 per share.
• The minimum amount required for retail investors is Rs 1,44,000.

Excellent Wires and Packaging IPO: Synopsis

Excellent Wires and Packaging is open for subscription from Wednesday, September 11, 2024, and closes on Friday, September 13, 2024. The price for this IPO is set at Rs 90 per share.

Excellent Wires and Packaging' IPO is offering entirely a fresh issue of 14 lakh equity shares worth up to Rs 12.60 crore.

The allotment for this new IPO is expected to be finalised on Monday, September 16, 2024. Whereas a listing of this IPO will be done on Thursday, September 19, 2024, at the NSE SME segment.

The minimum and maximum lot size set for the retail category is 1 lot, i.e., 1,600 shares. For retail investors, the minimum and maximum investment amount required is Rs 144,000. However, for the HNI category, the minimum lot size is 2 lots, i.e., 3,200 shares amounting to Rs 288,000.

The IPO is managed by Inventure Merchant Banker Services Private Limited, which is the book-running lead manager of this public issue. The company has appointed Bigshare Services Private Limited as the registrar for the issue.

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Excellent Wires and Packaging Limited: About the Company

Excellent Wires and Packaging Limited came into existence in March 2021 and manufactured various wires and wire ropes under its brand name "Excellent." Their products range from spring steel wire, high carbon wire, galvanized wire commonly known as GI wire, to many more.

The products of the company broadly fall into three groups: Brass Wires & Products, Steel Wires & Products, and various Packaging Products. The products cater to industries including Packaging, Engineering, Stationery, Imitation Jewelry, and Wires & Cables.

The company is ISO 9001:2015 accredited, meaning that the Company adheres to the highest standards of quality management. As at July 2024, the total number of employees working at Excellent Wires and Packaging Limited is 18 employees across all departments.

Excellent Wires and Packaging IPO: Objectives

The company intends to utilise the funding received from the fresh issue for several purposes, these include the acquisition of land and construction of a building, the acquisition of plant and machinery, funding additional working capital requirements, and for general corporate purposes.

Excellent Wires and Packaging IPO: Other Important

Time Table of Excellent Wires and Packaging IPO

Excellent Wires and Packaging IPO: Financial Metrics (Amt in Rs Lakhs)

Minimum Investment: Lot Size Details

Promoters of Excellent Wires and Packaging Limited and Their Holdings

The company's promoters are Bhavya Vasant Shah, Rachit Paresh Masalia and Darshil Hasmukh Shah. They collectively held 91.90% of the company's shares. However, post-IPO, their shareholding will be 63.12%.

FAQs

1.       What are the core details available for the Excellent Wires and Packaging IPO?

Excellent Wires and Packaging IPO is a fixed price issue of 14 lakh equity shares. This upcoming IPO is offering entirely a fresh issue of 14 lakh equity shares. The allotment for this new IPO is expected to be finalised on Monday, September 16, 2024.

2.       How can I apply for the Excellent Wires and Packaging IPO?

The public subscription of this new IPO opens on September 11 and closes on September 13, 2024. Click here to initiate the application process.

3.       Who is the lead manager(s) for the Excellent Wires and Packaging IPO?

Inventure Merchant Banker Services Private Limited was appointed as the book-running lead manager for the IPO.

4.       Who is appointed as the registrar for this IPO?

Bigshare Services Private Limited has been appointed as the registrar for this public issue.

5.       How will the net proceeds from the IPO be utilised?

The company intends to utilise the funding received from the fresh issue for several purposes, these include the acquisition of land and construction of a building, the acquisition of plant and machinery, funding additional working capital requirements, and for general corporate purposes.

6.       How can I check the allotment status of the IPO?

Investors who applied for an IPO can check the allotment status of the Excellent Wires and Packaging IPO by visiting here, for further updates, follow Bigul.

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