The initial public offering of Excellent Wires and Packaging Ltd. was subscribed over 20 times on the final day of bidding on Friday, led by demand from retail investors. The SME IPO received bids for 2,70,56,000 shares against 1,328,000 shares for offer, as per the market tracking site Chittorgarh.
Excellent Wires and Packaging IPO was subscribed 3.45 on the second day of bidding on Thursday while it was subscribed 1.27 times on the opening day.
The NSE SME IPO was a fixed-price issue worth Rs 12.6 crore and comprised an entirely fresh issue of 14 lakh shares. The price was fixed at Rs 90 per share.
Retail investors could apply for a minimum lot of 1,600 shares, requiring an investment of Rs 1.44 lakh. High Net-worth Individuals (HNIs) needed to invest at least Rs 2.88 lakh, with the minimum application size set at two lots, or 3,200 shares.
The share allotment status is expected to be finalised by September 16. Refunds for unsuccessful bidders and the transfer of shares to allottees' Demat accounts will likely happen by September 17. The company's listing on the NSE SME Emerge platform will take place on September 19.
Investors can check the Excellent Wires and Packaging IPO allotment status on Bigshare Services Pvt. Ltd.
How To Check Excellent Wires And Packaging IPO Allotment Status On Bigshare Services Pvt Ltd
Visit the official website of Bigshare Services at www.bigshareonline.com/ipo_Allotment.html
Select any one server to check your IPO Allotment Status.
Choose 'Excellent Wires and Packaging Limited' from the list of companies.
In the Selection Type dropdown, choose either Application number, Beneficiary ID, or PAN ID.
Enter the required information, which could be your application number, PAN (Permanent Account Number), or Beneficiary ID.
Complete the 'captcha' to verify that you are not a robot.
Finally, click the 'Search' button to check your allotment status.
Excellent Wires and Packaging IPO Timeline
IPO Open Date: Wednesday, September 11
IPO Close Date: Friday, September 13
Basis of Allotment: Monday, September 16
Initiation of Refunds: Tuesday, September 17
Credit of Shares to Demat: Tuesday, September 17
Listing Date: Wednesday, September 18
About Excellent Wires And Packaging Limited
Excellent Wires and Packaging Limited, founded in March 2021, manufactures a variety of wires and wire ropes under the brand "Excellent". Their product range includes Spring Steel Wire, High Carbon Wire, and Galvanised Wire, catering to industries like packaging, engineering, stationery, and imitation jewellery. The company holds an ISO 9001:2015 certification for quality management and, as of July 2024, employs 18 people.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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