Epack Durable IPO Details: Pricing, Subscription Period, and Allocation Structure
Epack Durable has revealed the pricing details for its upcoming initial public offering (IPO), setting the price band at Rs 218-230 per share. The subscription period for the IPO is scheduled to run from January 19 to January 23.
According to ET, the floor price for the equity shares, each with a face value of Rs 10, is set at 21.8 times, while the cap price is fixed at 23 times the face value. Interested investors can bid for a minimum of 65 equity shares in one lot and in multiples thereafter.
IPO Size and Shareholders
The IPO involves the sale of new shares worth up to Rs 400 crore, along with existing shareholders offering up to 10,437,047 shares for sale. Promoters and group entities, including Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, Ajay DD Singhania, Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra, are divesting a portion of their shares. Together, they currently own a 42.90% stake in the company.
India Advantage Fund and Dynamic India Fund, managed by ICICI Ventures, will also be divesting their stakes in Epack Durable.
About Epack Durable
Headquartered in Uttar Pradesh, Epack Durable is the second-largest Original Design Manufacturer (ODM) in the Indian room air conditioner manufacturing market, boasting a 29% market share in terms of volume in fiscal 2023. The company also manufactures components such as sheet metal parts, injection-molded parts, cross-flow fans, and PCBA components used in the production of room air conditioners (RACs). Additionally, Epack Durable has expanded its business into the small domestic appliance (SDA) market, producing items like induction hobs, blenders, and water dispensers.
The funds raised from the IPO will be utilized to support capital expansion plans and repay a portion of the company's outstanding debt.
IPO Allocation Structure
The IPO allocation reserves 50% for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for non-institutional investors. Axis Capital, DAM Capital Advisors, and ICICI Securities are serving as the book-running lead managers for the issue.
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