The IPO season appears to be in full swing. Of late, the focus has been on headline-grabbing SME stocks that have subscribed in ways never seen before. Keeping up with the trend and the momentum, another SME or small and medium-scale enterprise, is lining up for its Dalal Street debut.
Excellent Wires and Packaging Limited
The Maharashtra-based company was incorporated in 2021. The 'Excellent' brand is used to create a wide range of wires and wire ropes. The company's declared existing portfolio includes Spring Steel Wire, High Carbon Wire, Galvanised Wire (GI Wire).
The company's offers are divided into three categories: brass wires and products, steel wires and products, and other products, which include packaging products.
The "Excellent" brand is used to create a wide range of wires and wire ropes. |
IPO Starts On September 11
The company will start its initial public offering on September 11, 2024, and it will close the proceedings on September 13, 2024.
IPO Details
The Excellent Wires and Packaging Limited IPO is a fixed price issue of Rs 12.60 crores. This is a fresh issue of 14 lakh. The IPO's face value is pegged at Rs 10 per share. This IPO comes with an issue price of Rs 90 per share. The Ipo has a lot size of 1600.
It has an issue size of 1,400,000 shares, with the value amounting to Rs 12.60 crore. The company, as mentioned before, will be listed on the NSE SME. The company has a market capitalization of Rs 47.12 crore.
The listing date is yet to be disclosed, but the tentative date for listing is reported to be Thursday, September 19. | File/ Representational Image
Dates To Remember
After closing of the subscription date on September 13, the allotment may be finalised on Monday, September 16. Refunds of initiation would be carried out on Tuesday, September 17, 2024. The listing date is yet to be disclosed, but the tentative date for listing is reported to be Thursday, September 19.
Objectives Of IPO
The company intends to use the resources raised to acquire land and construct buildings. In addition, it also intends to use the raised sum for the acquisition of Plant & Machineries, funding additional Working capital requirements and general corporate purposes.
