Excellent Wires and Packaging IPO share allotment expected on Sept 16: Steps to check status on NSE, Bigshare Service

Excellent Wires and Packaging Limited IPO share allotment status is expected to be finalised on Monday, September 16. The initial public offering of the wire manufacturer received strong demand from retail investors during the subscription period.

The ₹12.6-crore NSE SME issue was booked more than 20 times at the close of bidding on September 13.

Successful bidders will be intimated through emails and SMS about the share allotment. However, investors can also check the share allotment status on NSE and the website of IPO registrar Bigshare Services Pvt Ltd.

Steps to check Excellent Wires and Packaging share allotment on IPO registrar’s website

• Open the website of BigshareServices Pvt Ltd (https://www.bigshareonline.com )
• Select any server
• Click on IPO allotment status -www.bigshareonline.com/ipo_Allotment.html
• Select Excellent Wires and Packaging Ltd
• Enter Application number or PAN ID
• Complete the 'captcha' to verify
• Click the "Search" button to check your allotment status

Here’s how to check Excellent Wires and Packaging IPO share allotment status on NSE

• Open the NSE IPO allotment page
• Login with username and password provided by NSE (Investors need to register on NSE website for getting a username and password).
• Select Excellent Wires and Packaging Ltd
• Verify PAN details
• Enter IPO application No
• Click on Submit

Excellent Wires and Packaging IPO details

Excellent Wires and Packaging launched its IPO on September 11, 2024, to raise ₹12.6 crore from investors. The fixed price public offer was entirely a fresh issue of 14 lakh shares.

The company fixed the price at ₹90 per share for the IPO. The minimum lot size was 1,600 shares. The minimum amount of investment required was ₹1,44,000.

Inventure Merchant Banker Services Pvt Ltd was the book running lead manager. BigshareServices Pvt Ltd is the registrar for the Excellent Wires and Packaging IPO.

Excellent Wires and Packaging IPO booked 20 times

At the close of bidding on September 13, the Excellent Wires and Packaging IPO was booked more than 20 times. The public offer received applications for more than 2.70 crore shares worth ₹243.50 crore against 13.28 lakh shares on offer for subscription.

Retail individual investors submitted bids for over 2.12 crore shares against 6.64 lakh shares set aside for them. The RII category was booked 32 times. Non-retail investors (NIIs) submitted applications for 58.11 lakh shares against 6.64 lakh shares marked for them. The non-retail portion was booked 8.75 times.

Excellent Wires and Packaging has proposed to initiate credit of shares to Demat accounts as well as refunds on September 17. Shares of the company will make market debut on the NSE SME platform on September 19.

Excellent Wires and Packaging IPO objects

Excellent Wires and Packaging Limited manufactures and supplies a range of wires and wire ropes. The company sells products such as Spring Steel Wire, Galvanised Wire (GI Wire) and High Carbon Wire under the ‘Excellent’ brand. These wires are used in multiple applications. Its products can be put into three categories of brass wires and products; steel wires and products, and other products such as packaging materials.

The company has proposed to utilise IPO proceeds to fund the acquisition of land and construction of building; finance the acquisition of plant & machineries as well as fund additional working capital requirements.

The company reported revenue from operations of ₹1,540.82 lakh in FY24 against ₹1,448.46 lakh in FY23. Its Profit After Tax stood at ₹82.98 lakh in FY24 against ₹10.43 lakh in FY23.