Excellent Wires and Packaging IPO Day 3: NSE SME issue booked over 20 times on high retail demand

Retail investors drove the demand by booking their quota 32 times. The retail category received bids for more than 2.12 crore shares against 6.64 lakh shares set aside for the segment.

In the Non-Institutional Investors (NIIs) category, the issue was subscribed 8.86 times with applications for 58.83 lakh shares against 6.64 lakh shares set aside for the segment.

Excellent Wires and Packaging IPO offer size, price band and other details

Excellent Wires and Packaging IPO was a book-building issue worth ₹12.6 crore. The public offer comprised an entirely fresh issue of 14 lakh shares. Excellent Wires and Packaging IPO price was fixed at ₹90 per share.

The company's IPO subscription was open from September 11 to September 13. The IPO allotment status is likely to be finalised on September 16.

Refunds for non-allottees will be initiated on September 17 and the credit of shares into the demat accounts of successful bidders will also be done on the same day.

Shares of the company are scheduled to debut on the NSE SME platform on September 19.

Excellent Wires and Packaging IPO registrar

Bigshare Services Private Limited is the registrar of the Excellent Wires and Packaging IPO, with Inventure Merchant Banker Services Private Limited serving as the book-running lead manager.

Inventure Growth and Securities is the market maker for the company.

Excellent Wires and Packaging IPO objective

Excellent Wires and Packaging wants to use the funds raised through the offering to address the need which includes the acquisition of land and construction of the building, acquisition of plant & machinery, funding for working capital and a significant portion for general corporate purposes.

About Excellent Wires and Packaging Limited

Excellent Wires and Packaging Limited, founded in March 2021, manufactures a range of wires and wire ropes under the Excellent brand, including Spring Steel Wire, High Carbon Wire, and Galvanized Wire for various uses.

The company's product range includes brass wires, steel wires and packaging products, serving industries like packaging, engineering, stationery, and imitation jewellery.