EPACK Durable IPO sails through smoothly on the last day of bidding; issue booked 16.37 times

EPACK Durable IPO subscription status: EPACK Durable IPO managed to sail through all three days slowly yet steadily, receiving favourable responses from both retail and non-institutional investors. On day 3, EPACK Durable IPO subscription status was 16.37 times, as per data available on BSE.

On the third day, EPACK IPO's retail investors portion was subscribed to 6.29 times, NII portion was subscribed to 28.10 times, and QIB portion was booked 25.50 times.

Within a few minutes of the issue opening on day two, the EPACK Durable IPO was fully booked. All portions were oversubscribed, with the exception of qualified institutional buyers (QIB) in the initial hour. EPACK Durable IPO was subscribed to 3.68 times on the second day.

On day 2, EPACK Durable IPO's retail investors portion was subscribed to 3.81 times, NII portion was subscribed to 7.90 times, and QIB portion towards the end of day 2 was booked at 17%.

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

Slowly and steadily, EPACK Durable IPOs retail portion was fully 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 to 1.17 times, Non Institutional Investors (NII) portion was subscribed to 82%, and Qualified Institutional Buyers (QIB) portion was booked at 1%.

EPACK Durable IPO opened for subscription on Friday, January 19, and will close today (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?

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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).

Also Read: EPACK Durable IPO: Check out 10 key things to know from RHP before investing

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 subscription status

EPACK Durable IPO has received bids for 32,70,94,625 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 6,33,42,825 shares against 1,00,74,985 shares on offer for this segment.

EPACK Durable IPO's non-institutional investors' portion received bids for 12,13,29,780 shares against 43,17,851 on offer for this segment.

EPACK Durable Limited IPO's QIBs portion received bids for 14,24,22,020 shares against 55,84,779 shares on offer for this segment.

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

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.

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 subscription date extended. GMP, review, apply or not?

EPACK Durable IPO GMP today

EPACK Durable IPO GMP or grey market premium is +18, where its dropped drastically from the previous six sessions. This indicates EPACK Durable share price were trading at a premium of ₹18 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 ₹248 apiece, which is 7.83% higher than the IPO price of ₹230.

Based on last 16 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 Day 3: GMP, subscription status, other details. Should you apply as bidding ends today

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