EPACK Durable IPO: Price band set at ₹218-230 per share; check GMP, issue details, more
- EPACK Durable Limited IPO price band is set at ₹218 to ₹230 per equity share. The subscription date is from January 19 to January 23.
EPACK Durable IPO price band: The 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. The EPACK Durable IPO date of subscription is scheduled for Friday, January 19, and will close on Tuesday, January 23. The allocation to anchor investors for the EPACK Durable IPO is scheduled to take place on Thursday, January 18.
The floor price is 21.8 times the face value of the equity shares, and the cap price is 23.0 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the fiscal 2023 at the floor price is 46.98 times and at the cap price is 49.57 times. The EPACK Durable IPO lot size is 65 equity shares and in multiples of 65 equity shares thereafter.
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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.
Tentatively, EPACK Durable IPO basis of allotment of shares will be finalised on Wednesday, January 24, and the company will initiate refunds on Thursday, January 25, while the shares will be credited to the demat account of allottees on the same day following refund. EPACK Durable share price is likely to be listed on BSE and NSE on Monday, January 29.
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 is a customer-focused enterprise that prioritises ongoing innovation and operational effectiveness. The organisation maintains specialised research and development facilities in Greater Noida, Bhiwadi, and Dehradun. These facilities are furnished with a range of apparatus, including endurance test laboratories for RACs and SDAs, induction coils that function as automatic voltage testers and breakdown testers, needle flame testers, and customised glow wire testers.
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.
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.
EPACK Durable IPO GMP today
EPACK Durable IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹230 with no premium or discount in the grey market according to topsharebrokers.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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.
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