Excellent Wires and Packaging is scheduled to hit the market on September 11, 2024 and close on September 13, 2024. Excellent Wires and Packaging plans to raise around ₹12.60 Cr through an IPO with a sale of up to 1,400,000 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Excellent Wires and Packaging Limited was started in March 2021 and makes a variety of wires and wire ropes under the brand name “Excellent.” Their products include Spring Steel Wire, High Carbon Wire, Galvanised Wire (GI Wire), and more, which are used in different applications. The products are divided into three categories: Brass Wires & Products, Steel Wires & Products, and Other Products like Packaging Products. They supply their items to industries such as Packaging, Engineering, Stationery, Imitation Jewelry, and Wires & Cables.
The company has achieved ISO 9001:2015 Certification, which shows that they follow good quality management practices. As of July 2024, Excellent Wires and Packaging Limited has 18 employees working in various departments.
Excellent Wires and Packaging IPO Details
Excellent Wires and Packaging IPO opens on September 11, 2024, and closes on September 13, 2024. The Listing date for Excellent Wires and Packaging IPO is on September 19, 2024. The price band for IPO is ₹90 per share and lot size of 1600 Shares.
| IPO Date | September 11, 2024 to September 13, 2024 |
| Listing Date | September 19, 2024 |
| Price | ₹90 per share |
| Lot Size | 1600 Shares |
| Issue Size | ₹12.60 Cr |
| Face Value | ₹10 per share |
Excellent Wires and Packaging IPO Tentative Timetable
Excellent Wires and Packaging opening date is September 11, 2024 and close date is September 13, 2024. The IPO allotment date is September 16, 2024. Therefund initiation of IPO is on September 17, 2024. The credit of shares in demat account is on September 17, 2024. The listing date is on September 19, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 11, 2024 |
| IPO Closing | September 13, 2024 |
| IPO Allotment Date | September 16, 2024 |
| Refund Initiation | September 17, 2024 |
| Shares Credit to Demat | September 17, 2024 |
| Lisiting Date | September 19, 2024 |
Excellent Wires and Packaging IPO Lot Size
Lot Size of this IPO is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹144,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1600 | ₹144,000 |
| Retail(Maximum) | 1 | 1600 | ₹144,000 |
| HNI (Minimum) | 2 | 3200 | ₹288,000 |
Excellent Wires and Packaging IPO Promoter Holding
| Pre Issue Share Holding | 91.90% |
| Post Issue Share Holding | 63.12% |
Excellent Wires and Packaging IPO Review
The company is launching its first IPO, offering 1,400,000 shares at Rs. 10 each. The shares are priced at Rs. 90 each, aiming to raise Rs. 12.60 crores.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 7.29 cr. / Rs. 0.05 cr. (FY22), Rs. 14.48 cr. / Rs. 0.10 cr. (FY23), Rs. 15.41 cr. / Rs. 0.83 cr. (FY24). The sudden boost in bottom line in a pre-IPO year raises eyebrows and concern over its sustainability going forward.
For the last three fiscals, it has reported an average EPS of Rs. 1.85, and an average RoNW of 42.57%. The issue is priced at a P/BV of 5.66 based on its NAV of Rs. 15.90 as of March 31, 2024, and at a P/BV of 2.12 based on its post-IPO NAV of Rs. 42.51 per share.
If we attribute FY24 earnings to its post-IPO fully diluted paid-up capital, then the asking price is at a P/E of 48.39. The IPO relatively appears exorbitantly priced.
For the reported periods, the company has posted PAT margins of 0.65% (FY22), 0.72% (FY23), 5.39% (FY24), but missing RoCE margins data for the referred periods.
The company makes and sells different types of wired products. It works in a tough and crowded market. While it showed average financial results, the strong profits for FY24 have raised questions about whether this can continue. The small amount of shares available after the IPO suggests it might take a long time to grow. Given the high earnings in FY24, the company's stock seems overpriced. It may be wise to avoid investing in this expensive option.
Excellent Wires and Packaging IPO Subscription Status (Bidding Details)
Table not foundExcellent Wires and Packaging IPO Broker Recommendations
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Excellent Wires and Packaging IPO FAQs
What is Excellent Wires and Packaging IPO?
Excellent Wires and Packaging is issuing 1,400,000 equity shares with a face value of ₹10 each, totaling up to ₹12.60 Cr. The shares are being offered at a price of ₹90 each, with a minimum order quantity of 1600 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Excellent Wires and Packaging IPO will open?
Excellent Wires and Packaging will open on September 11, 2024 for QIB, NII, and Retail Investors.
When Excellent Wires and Packaging IPO will end?
Excellent Wires and Packaging will end on September 13, 2024.
What is Excellent Wires and Packaging IPO Size?
Excellent Wires and Packaging IPO size is ₹12.60 Cr.
What is Excellent Wires and Packaging IPO Price Band?
Excellent Wires and Packaging price band is ₹90 per share.
What is the Excellent Wires and Packaging IPO Allotment Date?
Excellent Wires and Packaging allotment date is September 16, 2024.
What is the Excellent Wires and Packaging IPO Listing Date?
Excellent Wires and Packaging listing date is September 19, 2024. The IPO is to be listed on BSE and NSE.
How to Excellent Wires and Packaging IPO through Zerodha?
To apply for the IPO “Excellent Wires and Packaging” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Excellent Wires and Packaging IPO through Upstox?
To apply for the IPO “Excellent Wires and Packaging” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Excellent Wires and Packaging IPO Allotment Status?
For Excellent Wires and Packaging IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Excellent Wires and Packaging IPO GMP?
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