Active Stocks
Mon Apr 15 2024 15:59:36
  1. Tata Steel share price
  2. 160.90 -1.59%
  1. ITC share price
  2. 425.90 -0.98%
  1. State Bank Of India share price
  2. 757.75 -1.17%
  1. ICICI Bank share price
  2. 1,078.80 -2.30%
  1. NTPC share price
  2. 361.35 -0.08%
Business News/ Markets / Ipo/  EPACK Durable IPO fully booked on day 2 on strong retail, NII interest; GMP steady
BackBack

EPACK Durable IPO fully booked on day 2 on strong retail, NII interest; GMP steady

EPACK Durable IPO has opened for subscription on Friday, January 19, and will close now on Wednesday, January 24. EPACK Durable IPO lot size is 65 equity shares and in multiples of 65 equity shares thereafter. Reserved not more than 50% of shares for QIB, 15% for NII, and 35% for retail investors.

EPACK Durable IPO has opened for subscription on Friday, January 19, and will close now on Wednesday, January 24. ((Photo: Company website))Premium
EPACK Durable IPO has opened for subscription on Friday, January 19, and will close now on Wednesday, January 24. ((Photo: Company website))

EPACK Durable IPO subscription status: Within a few minutes of the issue opening on day two, EPACK Durable IPO was fully booked. All portions were oversubscribed, with the exception of qualified institutional buyers (QIB). EPACK Durable IPO has been subscribed 3.68 times, on the second day.

On day 2, EPACK Durable IPO's retail investors portion was subscribed 3.81 times, Non Institutional Investors (NII) portion was subscribed 7.90 times, and Qualified Institutional Buyers (QIB) portion was booked 17%.

Slowly and steadily, EPACK Durable IPOs retail portion was full booked on the first day. The EPACK Durable IPO subscription status was 77% at the end of day 1. EPACK Durable IPO's retail investors portion was subscribed 1.17 times, Non Institutional Investors (NII) portion was subscribed 82%, and Qualified Institutional Buyers (QIB) portion was booked 1%.

EPACK Durable IPO has opened for subscription on Friday, January 19, and will close now on Wednesday, January 24. EPACK Durable Limited IPO price band has been fixed in the range of 218 to 230 per equity share of the face value of 10. EPACK Durable IPO raised 192.01 crore from anchor investors on Thursday, January 18, by allocating 83.48 Lakh equity shares at 230.

Also Read: EPACK Durable IPO subscription date extended. GMP, review, apply or not?

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

 

EPACK Durable IPO details
View Full Image
EPACK Durable IPO details

The EPACK Durable IPO lot size is 65 equity shares and in multiples of 65 equity shares thereafter. EPACK Durable IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

The company's promoters are Ajay DD Singhania, Sanjay Singhania, Laxmi Pat Bothra, and Bajrang Bothra.

According to the F&S Report, the company is the second largest room air conditioner original design manufacturer (ODM) in India in terms of the number of units (indoor + outdoor) manufactured in fiscal 2023 through the ODM route, as stated in the company's red herring prospectus (RHP).

The company's listed peers are Amber Enterprises India Ltd (with a P/E of 66.28), PG Electroplast Limited (with a P/E of 67.27), Dixon Technologies (India) Ltd (with a P/E of 139.96), and Elin Electronics Ltd (with a P/E of 24.28), as per RHP.

Also Read: EPACK Durable IPO opens today: GMP, subscription status, review, other details. Buy or not?

EPACK Durable IPO subscription status

EPACK Durable IPO has received bids for 7,34,35,505 shares against 1,99,77,615 shares on offer, according to data from the BSE.

EPACK Durable Limited IPO retail investors' portion received bids for 3,83,89,715 shares against 1,00,74,985 shares on offer for this segment.

EPACK Durable IPO's non-institutional investors' portion received bids for 3,41,17,135 shares against 43,17,851 on offer for this segment.

EPACK Durable Limited IPO's QIBs portion received bids for 9,28,655 shares against 55,84,779 shares on offer for this segment.

EPACK Durable IPO details

EPACK Durable IPO, which is worth 640.05 crore, comprises a fresh issue of 400 crore, and an offer-for-sale (OFS) of 1.04 crore equity shares by the promoters and other investors.

In the OFS, 51.75 lakh shares valued at 119 crore, belonging to the promoter group, will be sold by promoters Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, and Ajay DD Singhania, as well as Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra.

The company plans to use the net proceeds from the new issue to finance the following goals: financing capital expenditures for the establishment or expansion of manufacturing facilities; repaying and/or prepaying some outstanding company loans, either in full or in part; and general corporate purposes.

“In addition, our company expects to receive the benefits of listing of equity shares on the stock exchanges including enhancing our visibility and our brand image among our existing and potential customers and creating a public market for our equity shares in India," the company said in its RHP.

The book running lead managers of EPACK Durable IPO are Axis Capital Limited, DAM Capital Advisors Limited, and ICICI Securities Limited, while the registrar is KFin Technologies Limited.

Also Read: EPACK Durable IPO: Issue subscribed 77% on day 1, retail portion fully booked; GMP rises

EPACK Durable IPO GMP today

EPACK Durable IPO GMP or grey market premium is +28, similar to previous three sessions. This indicates EPACK Durable share price were trading at a premium of 28 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of EPACK Durable share price was indicated at 258 apiece, which is 12.17% higher than the IPO price of 230.

Based on last 15 sessions grey market activities, today IPO GMP points upward and expects a strong listing. The lowest GMP is 0, while the highest GMP is 31, as per analysts of investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: EPACK Durable IPO opens today: 10 key risks from RHP to consider before subscribing to the IPO

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 Jan 2024, 10:51 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App