Excellent Wires And Packaging IPO Opens On Sept. 11: Check Price Band, Offer Size and Other Details
The NSE SME IPO is a fixed price issue worth Rs 12.6 crore, and comprises an entirely fresh issue of 14 lakh shares.
Excellent Wires and Packaging Ltd.'s initial public offering is set to open for bidding on Sept. 11. The NSE SME IPO is a fixed price issue worth Rs 12.6 crore, and comprises an entirely fresh issue of 14 lakh shares.
The offering will close on Sept. 13. Share allotment status for the issue is expected to be finalised on Sept. 16. The company will initiate refunds for unsuccessful bidders and transfer of shares into the Demat accounts of allottees on Sept. 17.
The company will likely list on Sept. 19 on the NSE SME Emerge platform.
The IPO price has been fixed at Rs 90 per share.
Retail investors can apply for a minimum lot size of 1,600 shares, amounting to an investment of Rs 1.44 lakh. The minimum investment for High Net-worth Individuals is Rs 2.88 lakh. The application size for HNIs is of two lots, or 3,200 shares.
Bigshare Services Pvt. is the registrar for the Excellent Wires and Packaging IPO, while Inventure Merchant Banker Services Pvt. is the book-running lead manager. Inventure Growth and Securities is the market maker of the issue.
Use Of Proceeds
Net proceeds of the IPO will be used for acquisition of land and construction of a building by the company. The company will also use the funds for the acquisition of a plant and machineries and funding working capital requirements. A portion of the IPO proceeds will also be used for general corporate purposes.
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Business
Incorporated in March 2021, Excellent Wires and Packaging Ltd. manufactures several types of wires under the brand name 'Excellent'. It also sells packaging products to its customers under the same brand name, after procuring them from the market.
The company's product portfolio includes brass wires and related products, steel wires, and packaging materials. Its products are supplied to different industries including engineering, packaging, imitation jewellery, stationery, and wires and cable, among others.
Financial Performance
The company's revenue stood at Rs 15.4 crore in fiscal 2024, up by 6.35% compared to Rs 14.48 crore in the preceding financial year. The company's net profit surged over 695% to Rs 82.98 lakh during this period as compared to Rs 10.43 lakh in fiscal 2023.
