Excellent Wires and Packaging shares list at 6% discount on NSE SME platform

Ahead of the listing, the company’s shares had no GMP in the grey market.

The IPO, which was completely a fresh equity sale of 14 lakh shares, received decent response from investors with an overall subscription of 20 times at close.

The net proceeds from the public offer will be used for acquisition of land and construction of building, acquisition of plant and machineries, working capital requirements, general corporate purposes and offer expenses.

The company is a manufacturer of various types of wires, such as spring steel wire, high carbon wire, galvanised wire or GI wire, round stitching wire, flat stitching wire, mild steel (MS) and low carbon wire

Its other packaging products like PP Strapping Rolls and BOPP Self Adhesive Tapes are purchased from the market and sold to the customers on as and when need basis. These packaging products are sold under the brand name of Excellent.The company supplies its products to various industries viz. packaging, engineering, stationery, imitation jewelry, wires and cable etc.Right from the raw material selection to the packing and dispatch of final products, the company claims it does not compromise on quality.

Excellent Wires’ competitive strengths include experienced promoter and management team with strong industry expertise, strong customer relationships and diverse product portfolio.

For the year ended March 2024, the company clocked total revenues of Rs 15.4 crore and net profit of Rs 82 lakh.

Inventure Merchant Banker acted as the lead manager to the issue and Bigshare Services was the registrar.

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