Excellent Wires and Packaging Ltd. was incorporated on March 16, 2021. The company manufactures a range of wires, including spring steel wire, high carbon wire, and galvanized wire (GI Wire) etc. It also sells packaging products such as PP Strapping Rolls and BOPP Self-Adhesive Tapes, which are sourced from the market and sold under the brand name "Excellent".
| Bidding Dates |
|---|
| 11 Sep 2024 - 13 Sep 2024 |
| Subscription |
|---|
| 19.38x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,44,000 | 1 | 1 | 1600 | 1.4 M | ₹90 | 63.11 % | ₹126.0 M | RHP DOC |
Excellent Wires IPO SUBSCRIPTION STATUS
13 Sep '24Excellent Wires IPO overall subscription rate was 19.38 times the total available shares
Excellent Wires IPO retail subscription rate was 30.35 times in the retail segment
Excellent Wires IPO non-institutional investor subscription rate was 8.4 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
13 Sep 2024 (Day 3) | 30.35x | 8.4x | - |
12 Sep 2024 (Day 2) | 5.63x | 0.83x | - |
11 Sep 2024 (Day 1) | 1.92x | 0.26x | - |
Excellent Wires FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 8.3 | 154.1 | 0.1 | -19.1 | 9.5% |
| FY23 | 1.0 | 144.8 | 3.4 | 3.0 | 2.9% |
| FY22 | 0.5 | 72.9 | 2.1 | 0.7 | 2.3% |
Excellent Wires IPO SUBSCRIPTION STATUS DETAILS
Excellent Wires had 1.4 M shares on offer
Excellent Wires IPO offer price was ₹90
Excellent Wires IPO minimum Investment was ₹144000
Excellent Wires IPO issue size was ₹ 126.0 M
Excellent Wires had a minimum lot size of 1600 Shares per application
Excellent Wires NUMBER OF SHARES ON OFFER
Excellent Wires IPO IMPORTANT DATES
| Issue Open Date | 11 Sep 2024 |
| Issue close Date | 13 Sep 2024 |
| Allotment Date | 16 Sep 2024 |
| Refund Date | 17 Sep 2024 |
| Demat Account Credit Date | 18 Sep 2024 |
| Listing Date | 19 Sep 2024 |
| Listing on Exchange(s) | NSE |
| Excellent Wires Allotment Status | Exchange |
Excellent Wires IPO subscription opened on 11 Sep 2024, and closed on 13 Sep 2024
IPO allotment for Excellent Wires was finalized on Monday, 16 Sep 2024
IPO listing for Excellent Wires was on NSE on Thursday, 19 Sep 2024
Excellent Wires IPO LISTING GAINS
| Issue Price (adjusted) | 90.0 |
| Listing Open Price | 85.0 |
| Listing Close Price | 82.0 |
| Listing Gain% | -5.6% |
| Current Gain% | 130.0% |
Excellent Wires Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Excellent Wires & Packaging Ltd. | 207 | 92.5 | 61.3 | 4 | 7.3 | 6.3 | 22.9 | 1.5 | 3.4 | ||||
| APL Apollo Tubes Ltd. | 1970 | 54698.7 | 44.5 | 0.8 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1839.8 | 48532.2 | 21 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 515 | 15695.7 | 31 | 1.2 | 4.1 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 35.2 | 13768.5 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2693.5 | 6106.9 | 21.4 | 1.9 | 2.2 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
Excellent Wires INFORMATION ON IPO ISSUE
About Excellent Wires
Excellent Wires and Packaging Ltd. was incorporated on March 16, 2021. The company manufactures a range of wires, including spring steel wire, high carbon wire, and galvanized wire (GI Wire) etc. It also sells packaging products such as PP Strapping Rolls and BOPP Self-Adhesive Tapes, which are sourced from the market and sold under the brand name "Excellent".
Object of the Issue
- Acquisition of land and construction of buildings
- Acquisition of plant & machinery
- Funding additional working capital requirements
- General corporate purposes
Excellent Wires - PROMOTERS
| Name |
|---|
| Bhavya Vasant Shah |
| Rachit Paresh Masalia |
| Darshil Hasmukh Shah |
Excellent Wires Lead Manager of the Issue
Inventure Merchant Banker Services Private Limited
sme.ipo@inventuremerchantbanker.com
Excellent Wires Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Excellent Wires Strengths
Customer relationship
The company's promoters have established strong ties with customers, suppliers, and industry stakeholders, enhancing business development. These relationships offer better access to resources and opportunities, supporting long-term customer loyalty and improved retention
Diversified product portfolio
The company has diversified its product range to meet various customer needs. Brass wires serve the packaging and fastener industries, while steel wires are used in lifting and construction. This diversification helps reduce risks from demand fluctuations in specific markets
Excellent Wires Risks
Raw material expenses
Raw material costs make up a significant portion of the company's expenses. The volatility in raw material prices can adversely impact the business, financial condition, results of operations, and cash flows
Dependent on few vendors
A substantial portion of the company's raw material purchases depends on a limited number of vendors. In FY24, purchases from the top 10 vendors accounted for 75.01%. The company does not have supply agreements with most of these suppliers, so losing a significant vendor could materially impact its financial results.
IPO FAQs
The promoters of the company are Bhavya Vasant Shah, Rachit Paresh Masalia and Darshil Hasmukh Shah.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 90.0 - 90.0.
The IPO application opens on Sep 11, 2024 and closes on Sep 13, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 144,000.0, the maximum value for this IPO is Rs 144,000.0.
This IPO will be allotted on Sep 16, 2024.
The refund will be credited to your account on Sep 17, 2024.
The allotted shares will be credited to your demat on Sep 18, 2024.
Excellent Wires and Packaging Ltd.’s shares listed on the stock exchanges on Sep 19, 2024.