In this article you get to know insight about Excellent Wires and Packaging Limited IPO Details. Incorporated in March 2021, Excellent Wires and Packaging Limited specializes in the manufacturing of a diverse range of wires and wire ropes under the brand name “Excellent.” Their product line includes Spring Steel Wire, High Carbon Wire, Galvanised Wire (GI Wire), and more, catering to various applications. The company’s offerings are broadly categorized into three main segments: Brass Wires & Products, Steel Wires & Products, and other products, including packaging solutions.
The Excellent Wires and Packaging IPO is set to raise ₹12.60 crores through a fixed-price issue, entirely composed of a fresh issue of 14 lakh equity shares. The IPO will open for subscription on September 11, 2024, and close on September 13, 2024. Investors can expect the allotment to be finalized by September 16, 2024, with the shares likely to be listed on the NSE SME platform on September 19, 2024.
Priced at ₹90 per share, the IPO requires a minimum lot size of 1,600 shares, translating to an investment of ₹144,000 for retail investors. For high-net-worth individuals (HNIs), the minimum investment is 2 lots, or 3,200 shares, amounting to ₹288,000. The lead manager for this issue is Inventure Merchant Banker Services Pvt Ltd, with Bigshare Services Pvt Ltd serving as the registrar. Inventure Growth & Securities will act as the market maker for the IPO.
This IPO presents a promising opportunity for investors, especially those looking to invest in the SME segment. With its fixed pricing and strategic listing on the NSE SME, the Excellent Wires and Packaging IPO is poised to attract significant interest from both retail and HNI investors.
Excellent Wires and Packaging IPO Objectives
Excellent Wires and Packaging Limited plans to utilize the net proceeds from the fresh issue to fund several key objectives. These include the acquisition of land and the construction of a new building, the purchase of advanced plant and machinery, and the funding of additional working capital requirements. Additionally, a portion of the proceeds will be allocated toward general corporate purposes, supporting the company’s overall growth and operational needs.
Excellent Wires and Packaging Limited IPO Details
| IPO Date | September 11, 2024 to September 13, 2024 |
| Face Value | ₹10 per share |
| Price | ₹90 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 1,400,000 shares (aggregating up to ₹12.60 Cr) |
| Fresh Issue | 1,400,000 shares (aggregating up to ₹12.60 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing | NSE SME |
| Share holding pre issue | 3,835,400 |
| Share holding post issue | 5,235,400 |
| Market Maker portion | 72,000 shares |
Excellent Wires and Packaging Limited IPO Reservation
The Excellent Wires and Packaging IPO has a well-defined reservation structure aimed at ensuring fair participation across different investor categories. The shares are evenly distributed, with 50% of the net issue reserved for retail investors and the remaining 50% allocated to other investors. This balanced allocation is designed to attract a diverse group of participants, providing opportunities for both retail and institutional investors to engage in the offering.
Excellent Wires and Packaging Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | ₹144,000 |
| Retail (Max) | 1 | 1600 | ₹144,000 |
| HNI (Min) | 2 | 3,200 | ₹288,000 |
Excellent Wires and Packaging Limited IPO Promoter Holding
The promoters of Excellent Wires and Packaging are Bhavya Vasant Shah, Rachit Paresh Masalia, and Darshil Hasmukh Shah. Before the IPO, these promoters hold a significant 91.90% stake in the company. However, following the issue, their collective shareholding will be reduced to 63.12%, reflecting the dilution of equity due to the fresh issuance of shares.
Excellent Wires and Packaging Limited IPO Tentative Dates
| IPO Open Date | Wednesday, September 11, 2024 |
| IPO Close Date | Friday, September 13, 2024 |
| Basis of Allotment | Monday, September 16, 2024 |
| Initiation of Refunds | Tuesday, September 17, 2024 |
| Credit of Shares to Demat | Tuesday, September 17, 2024 |
| Listing Date | Thursday, September 19, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 13, 2024 |
Excellent Wires and Packaging Limited IPO Registrar
If you need to inquire about the allotment status of Excellent Wires and Packaging Limited IPO, you can contact Bigshare Services Pvt Ltd, the registrar for the IPO, through the following means
Bigshare Services Pvt Ltd, a well-established firm known for its expertise in handling IPO-related processes. Investors can reach them via phone at +91-22-6263 8200 or through email at ipo@bigshareonline.com. For more details or to check the status of the IPO, investors can visit their website at Bigshare Services IPO Status.
FAQs
What is Excellent Wires and Packaging Limited known for?
Excellent Wires and Packaging Limited specializes in manufacturing a range of wires and wire ropes, including Spring Steel Wire, High Carbon Wire, and Galvanised Wire (GI Wire). The company offers products in three main segments: Brass Wires & Products, Steel Wires & Products, and packaging solutions.
When will the IPO for Excellent Wires and Packaging Limited open and close?
The IPO will open for subscription on September 11, 2024, and close on September 13, 2024.
What is the price range and face value of the shares in the IPO?
The face value of each share is ₹10, and the price per share is fixed at ₹90.
What is the minimum lot size for retail investors in the IPO?
The minimum lot size for retail investors is 1,600 shares, which translates to an investment of ₹144,000.
How is the IPO reserved among different investor categories?
The shares are reserved as follows:
50% of the net issue for retail investors.
50% of the net issue for other investors, including institutional investors.
What are the objectives of the IPO proceeds?
The funds will be used for acquiring land and constructing a new building, purchasing advanced plant and machinery, and funding additional working capital requirements. A portion will also be used for general corporate purposes.
When will the basis of allotment, refunds, and credit of shares occur?
The basis of allotment is expected to be finalized by September 16, 2024. Refunds and credit of shares to demat accounts are anticipated to occur on September 17, 2024. The shares are expected to be listed on the NSE SME platform on September 19, 2024.
What are the contact details for the IPO registrar?
The registrar for the IPO is Bigshare Services Pvt Ltd. Investors can contact them at:
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: Bigshare Services IPO Status
What is the pre and post-issue shareholding of the promoters?
Before the IPO, the promoters hold 91.90% of the company’s shares. After the IPO, their collective shareholding will be reduced to 63.12%.
Who is managing the IPO and acting as the market maker?
The lead manager for the IPO is Inventure Merchant Banker Services Pvt Ltd, and Inventure Growth & Securities will act as the market maker.