Excellent Wires and Packaging IPO Opens Today: ₹12.6 Cr Issue Size, Price Band & Key Details for Investors

The IPO of Excellent Wires and Packaging has opened for subscription today and will close on September 13. The company plans to raise around ₹12.6 crore through this IPO, which will be listed on the NSE SME platform. Here are 10 key points that investors should know before subscribing:

1) IPO Size
The IPO is a fresh issue of 14 lakh equity shares, with the company aiming to raise ₹12.6 crore.

2) Price Band
Each share is priced at ₹90, and investors can bid for a lot of 1,600 shares.

3) GMP (Grey Market Premium)
As of now, there is no GMP for Excellent Wires and Packaging shares in the unlisted market.

4) About the Company
Excellent Wires and Packaging manufactures various types of wires, including spring steel wire, high carbon wire, galvanised (GI) wire, stitching wire (both round and flat), mild steel (MS) wire, low carbon wire, and more.

5) Industry Overview
India is the second-largest producer of crude steel globally, producing 125.32 million tonnes (MT) of crude steel and 121.29 MT of finished steel in FY23. Production is expected to grow by 4-7% in FY24.

6) Financial Performance
For the year ending March 2024, Excellent Wires and Packaging reported revenues of ₹15.4 crore and a net profit of ₹82 lakh.

7) Purpose of the IPO
The funds raised will be used to acquire land, build a facility, purchase machinery, meet working capital needs, and cover general corporate expenses.

8) Lead Managers and Registrar
Inventure Merchant Banker is the lead manager for this IPO, while Bigshare Services is acting as the registrar.

9) Issue Structure
50% of the shares are reserved for retail investors, and the remaining 50% are for other investors.

10) Important Dates
The IPO opened on September 11 and will close on September 13. Final allotment is expected on September 16, and the shares are likely to be listed on September 18.