Excellent Wires and Packaging IPO: Check issue size, price band, GMP and other details

The SME IPO of Excellent Wires and Packaging will open for subscription today and will close on September 13. The company aims to raise about Rs 12.6 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) Excellent Wires and Packaging IPO size

The IPO is entirely a fresh equity issue of 14 lakh shares and through the issue, the company plans to raise Rs 12.6 crore.

2) Excellent Wires and Packaging IPO price band

The company is offering its shares at Rs 90 apiece, and investors can bid for 1600 shares in 1 lot.

3) Excellent Wires and Packaging GMP

In the unlisted market, the company's shares had no GMP ahead of the issue opening.

4) About Excellent Wires and Packaging

The company is a manufacturer of various types of wires, such as spring steel wire, high carbon wire, galvanised wire or GI wire, round stitching wire, flat stitching wire, mild steel (MS) and low carbon wire, HB and HHB wire among others.

5) Industry overview

India is the world’s second-largest producer of crude steel, with an output of 125.32 MT of crude steel and finished steel production of 121.29 MT in FY23. India’s steel production is estimated to grow 4-7% to 123-127 MT in FY24.

Also Read: Bajaj Housing Finance vs PN Gadgil & 2 other IPOs: Which is the smartest bet?

6) Excellent Wires and Packaging financial performance

For the year ended March 2024, the company clocked total revenues of Rs 15.4 crore and net profit of Rs 82 lakh.

7) Objects of the offer

The net proceeds from the public offer will be used for acquisition of land and construction of building, acquisition of plant and machineries, working capital requirements, general corporate purposes and offer expenses.

8) Lead managers and Registrar

Inventure Merchant Banker is acting as the lead manager to the issue and Bigshare Services is the registrar.

9) Issue structure

About 50% of the offer is reserved for retail investors and the rest 50% for other investors.

10) Important dates

The IPO opened on September 11 and will close on September 13. The final allotment will likely be made on September 16. The company's shares will likely get listed on September 18.