Excellent Wires and Packaging Limited is launching its Initial Public Offering (IPO) from September 11 to September 13, 2024. The Excellent Wires and Packaging IPO aims to raise ₹12.60 crores by issuing 14 lakh shares at ₹90 each. With significant investor interest, the Excellent Wires and Packaging IPO has already been subscribed over three times by the second day. The funds from this IPO will be used to acquire land, purchase machinery, fund working capital, and support general corporate purposes. The shares from the Excellent Wires and Packaging IPO are expected to be listed on the NSE SME Emerge platform on September 19, 2024.
What You Need to Know About the Excellent Wires and Packaging IPO
The Excellent Wires and Packaging IPO involves issuing 14 lakh shares at a fixed price of ₹90 each. This fresh issue of shares is aimed at raising ₹12.60 crores to support the company’s growth plans.
Key Details of the Excellent Wires and Packaging IPO
- IPO Period: September 11 to September 13, 2024
- Listing Date: Expected on September 19, 2024
- Listing Platform: NSE SME Emerge
Company Overview: Excellent Wires and Packaging Limited
Excellent Wires and Packaging Limited (formerly Perfect Wire Industries) was incorporated in March 2021. The company specializes in manufacturing a range of wires and packaging products, including brass and steel wires. It serves various industries such as engineering, packaging, and imitation jewelry, and holds an ISO 9001:2015 certification.
Financial Performance of Excellent Wires and Packaging Limited
The financial performance of Excellent Wires and Packaging Limited shows impressive growth:
- Revenue Growth: Increased from ₹728.83 lakhs in March 2022 to ₹1,540.82 lakhs in March 2024
- Profitability: Profit after tax surged from ₹4.73 lakhs in March 2022 to ₹82.98 lakhs by March 2024
- Earnings per Share (EPS): Improved from ₹0.27 in March 2022 to ₹3.32 in March 2024
Subscription Status of the Excellent Wires and Packaging IPO
The Excellent Wires and Packaging IPO has seen strong investor interest. As of the latest updates, the IPO has been subscribed over three times. Retail investors are leading the demand, with their portion of the IPO subscribed 6.10 times, while non-institutional investors have subscribed 0.78 times.
Subscription Figures
- Retail Investors: 6.10 times subscribed
- Non-Institutional Investors: 0.78 times subscribed
Why the Excellent Wires and Packaging IPO Is Worth Considering
The Excellent Wires and Packaging IPO offers a valuable investment opportunity in the wire and packaging sector. With a strong subscription response and a clear plan for utilizing the funds, this IPO has the potential for significant growth and returns.
Key Benefits of Investing in the Excellent Wires and Packaging IPO
- Strong Financial Growth: Notable increases in revenue and profit
- Clear Utilization of Funds: Investments in land, machinery, and working capital
- High Subscription Rate: Reflects strong market interest and confidence
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