Excellent Wires and Packaging IPO Closed
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Schedule of Excellent Wires and Packaging
| Issue open date | 11 Sep 2024 |
| Issue close date | 13 Sep 2024 |
| UPI mandate deadline | 13 Sep 2024 (5 PM) |
| Allotment finalization | 16 Sep 2024 |
| Refund initiation | 17 Sep 2024 |
| Share credit | 17 Sep 2024 |
| Listing date | 19 Sep 2024 |
| Mandate end date | 28 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 16 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 14 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Excellent Wires and Packaging
Excellent Wires and Packaging Limited’s IPO is set to launch on September 11, 2024, with subscriptions closing on September 13, 2024. Incorporated in March 2021, the company manufactures a wide range of wires and wire ropes under the brand name “Excellent,” including various types such as Spring Steel Wire, High Carbon Wire, Galvanised Wire (GI Wire), and others for multiple applications.
The company’s product offerings are divided into three major categories: Brass Wires and Products, Steel Wires and Products, and Packaging Products, which are supplied to a diverse range of industries, including Packaging, Engineering, Stationery, Imitation Jewelry, Wires and Cable, and more. Additionally, the company holds ISO 9001:2015 certification, a recognized standard for quality management.
Financials of Excellent Wires and Packaging
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹12.60 crores |
| Fresh Issue | ₹12.60 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Land acquisition and building construction | 5.78 (45.87%) |
| Acquisition of Plant & machineries | 2 (15.87%) |
| Funding additional working capital | 1.50 (11.90%) |
| General corporate purposes | 2.32 (18.40%) |
| Offer Expenses | 1 (7.94%) |
Strengths
- A strong reputation and long-standing customer relationships drive repeat business and referrals.
- Optimized operations and continuous investment in new machinery enhance efficiency and profitability.
- A diversified product portfolio caters to a broad range of customer needs across various industries.
- Established market presence underpinned by a commitment to quality, innovation, and competitive pricing.
Risks
- Delays in facility setup: Delays or failures in setting up the new manufacturing facility at Wada could hinder growth and impact future operations and finances.
- Raw material price volatility: Fluctuations in metal product prices used in manufacturing could negatively affect operations, financial health, and profitability.
- High working capital needs: Significant working capital requirements due to reliance on B2B customers may impact operations and profitability if not managed effectively.
- Loss of major customers: The company operates without long-term contracts, relying on purchase orders, and any loss of significant customers could adversely affect revenues and profitability.
- Unsecured loan dependence: Sudden demands for repayment of unsecured loans could strain cash flows and negatively impact business operations.