Excellent Wires and Packaging IPO Day 3: Issue subscribed 5.47 times so far, check allotment date and more

The initial public offer of Excellent Wires and Packaging Limited has been subscribed 5.47 times so far on Friday, the third day of bidding.

The demand was led by retail investors, who bid for 9.71 times the quota set aside for them. The non-institutional investors (NIIs) portion was subscribed 1.22 times the part reserved for them.

The ₹12.6 crore IPO is solely a fresh issue of 14 lakh equity shares. The initial share sale, which went live on September 11, will conclude on Friday, September 13. It is a fixed-price issue at ₹90 per share.

Retail investors can apply for at least one lot, consisting of 1,600 shares worth ₹1,44,000. High-net-worth individuals (HNIs) can place bids for two lots, aggregating to ₹2,88,000.

The proceeds from the fresh issue will be used to acquire plant and machinery, acquire land, construct buildings, meet working capital requirements, and for general corporate purposes.

Excellent Wires and Packaging IPO: Key dates

About Excellent Wires and Packaging

Excellent Wires and Packaging Ltd, originally established as Perfect Wire Industries, specialises in manufacturing wire products. Its extensive portfolio includes spring steel wire, galvanised wire, and high-carbon wire.

The book-running lead manager for the issue is Inventure Merchant Banker Services Pvt Ltd, while Bigshare Services Pvt Ltd is the registrar.