EPACK Durable IPO: EPACK Durable IPO has received better response amid the ongoing fluctuations in the market. On Wednesday, January 24, the last day of applications in the IPO, the IPO of Epack Durable has closed by being oversubscribed 16,37 times.
According to the data available on BSE, the company had invited bids for 1,99,77,615 shares and against that, applications have been received for a total of 32,70,94,495 shares. The IPO has received good support from institutional and non-institutional investors. 55,84,779 shares were reserved for institutional investors and applications have been received for a total of 14,24,22,020 shares. The reserve category of institutional investors has been subscribed 25.50 times.
43,17,851 shares were reserved for non-institutional investors and applications were received for 12,13,29,851 shares and this category was subscribed 28.10 times. 1,00,74,985 shares were reserved for retail investors and applications have been received for 6,33,42,825 shares in this category and this category has been subscribed 6.29 times.
Epack Durable has fixed the price band of Rs 218-230 per share for the IPO and according to the upper band of the issue price, the company is going to raise Rs 640 crore from the market through IPO. In this IPO, Rs 400 crore is being raised through offer for sale. That means promoters and investors are selling 1.04 crore shares in IPO. Epack Durable is trading at a premium of Rs 18 in the gray market. The stock may be listed at Rs 248 as per the current gray market price.
Even before the opening of the IPO, Epack Durable has raised Rs 192 crore from anchor investors. EPAK Durable Limited manufactures room air conditioners and small home appliances. It has two production plants in Dehradun and Bhiwadi. Axis Capital, DAM Capital and ICICI Securities are the book running lead managers. Kfin Technologies is the registrar of the IPO.
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