Excellent Wires and Packaging IPO Subscription Status

Excellent Wires and Packaging's initial public offering (IPO) has garnered moderate investor interest, with subscription rates climbing steadily over the three days. Starting modestly on day one, the IPO witnessed a gradual increase in demand, resulting in a 6.33 times oversubscription by the close of day three. This response underscores the market appetite for Excellent Wires and Packaging's shares and sets the stage for its upcoming listing.

The IPO, which opened on 11th September 2024, has seen increasing investor participation across categories. The Retail segment, in particular, has shown strong demand, while the Non-Institutional Investors (NII) category has also demonstrated growing interest.

This response to Excellent Wires and Packaging's IPO comes amid the current sentiment in the Indian stock market, particularly towards wire manufacturing and packaging companies. The company's diverse product range and ISO certification have attracted the attention of retail investors looking for exposure to India's manufacturing industry.

Subscription Status of Excellent Wires and Packaging IPO for Days 1, 2, and 3:

On day 1, Excellent Wires and Packaging IPO was subscribed 1.27 times. By the end of day 2, the subscription status had risen to 3.45 times; on day 3, it reached 6.33 times.

Here are the subscription details for Excellent Wires and Packaging IPO as of Day 3 (September 13, 2024 at 11:47:58 AM):

Total Applications: 4,701

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. 
• ** The portion of anchor investors (or market makers) is not included in the total number of shares offered. 
• *** Market Maker portion is not included to NII/HNI.

Key Highlights:

• The IPO of Excellent Wires and Packaging is currently subscribed 6.33 times, with strong demand from Retail Individual Investors (RII).
• Retail investors have shown exceptional interest, with a subscription ratio of 11.33 times.
• Non-Institutional Investors (NII) have demonstrated moderate enthusiasm, with a subscription ratio of 1.32 times.
• The overall subscription trend shows a steady increase day-on-day, indicating growing investor confidence towards the issue.

Excellent Wires and Packaging IPO - Day 2 Subscription at 3.45 Times

Key Highlights:

• On Day 2, Excellent Wires and Packaging's IPO was subscribed 3.45 times, with strong demand from Retail Individual Investors (RII).
• Retail investors showed increased interest with a subscription ratio of 6.12 times, nearly tripling their subscription from the previous day.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 0.78 times.
• The overall subscription trend indicated building momentum, with both retail and NII categories showing increased participation.

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Excellent Wires and Packaging IPO - Day 1 Subscription at 1.27 Times

Key Highlights:

• The IPO of Excellent Wires and Packaging was subscribed 1.27 times on Day 1, with initial demand primarily from Retail Individual Investors (RII).
• Retail investors showed early interest with a subscription ratio of 2.25 times, indicating positive sentiment among individual investors.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 0.30 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Excellent Wires and Packaging IPO

Excellent Wires and Packaging Limited, incorporated in March 2021, 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.

Key features of Excellent Wires and Packaging:

• Product categories include Brass Wires & Products, Steel Wires & Products, and Other Products including Packaging Products
• Supplies to various industries such as Packaging, Engineering, Stationery, Imitation jewellery, Wires & Cable etc.
• Awarded ISO 9001:2015 Certification for effective quality management
• 18 employees in various departments as of July 2024

Highlights of the Excellent Wires and Packaging IPO

• IPO Date: 11th September 2024 to 13th September 2024
• Listing Date: 19th September 2024 (Tentative)
• Face Value: ₹10 per share
• IPO Price: ₹90 per share
• Lot Size: 1600 Shares
• Total Issue Size: 1,400,000 shares (aggregating up to ₹12.60 Cr)
• Fresh Issue: 1,400,000 shares (aggregating up to ₹12.60 Cr)
• Issue Type: Fixed Price Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Inventure Merchant Banker Services Pvt Ltd
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: Inventure Growth & Securities