IPO screener: Epack Durable suppose of affairs opens this day at ₹218-230

Updated - January 19, 2024 at 07:57 AM.

Epack Durable mops up ₹192 crore from anchor consumers

The ₹640-crore preliminary public offering of Epack Durable will initiate for public subscription this day and shut on January 23. The IPO comes with a mark band of ₹218-230 and the market lot is 65 shares.

The firm has reserved no longer bigger than 50 per cent of the shares in the general public suppose of affairs for qualified institutional consumers (QIB), no longer no longer up to 15 per cent for non-institutional Institutional Traders (NII), and no longer no longer up to 35 per cent of the provide is reserved for retail consumers.

Epack Durable, an outsourced create producer of room air conditioners, on Thursday mobilised ₹192 crore from anchor consumers as fragment of IPO exercise.

The IPO is a combination of fresh issuance of fairness shares price ₹400 crore and an provide-for-sale (OFS) of 1.3 crore fairness shares by promoters, promoter team members, and existing shareholders. Under the OFS, India Profit Fund S4 I and Dynamic India Fund S4 US1 would perchance be offloading shares, apart from promoters.

Anchor consumers

The firm has disbursed 83.forty eight lakh fairness shares to 18 funds at ₹230 apiece, which will likely be the upper pause of the price band, in accordance to a spherical uploaded on the BSE web location.

Among the marquee consumers integrated Societe Generale, Copthall Mauritius Funding Ltd, Built-in Core Ideas (Asia) Pte Ltd, SBI Existence Insurance protection Company, SBI Regular Insurance protection Company, HDFC Existence Insurance protection Company, Bajaj Allianz Existence Insurance protection Company, Aditya Birla Sun Existence Insurance protection Company and HDFC Mutual Fund.

Utility of funds

Proceeds of the fresh suppose of affairs would perchance be utilised for funding capital expenditure for the developing of producing amenities, price of loans, and total corporate applications.

Founded in 2002, Epack Durable manufactures room air conditioners and shrimp household dwelling equipment. It has constructed-in manufacturing amenities in Dehradun and Bhiwadi, Rajasthan the attach it manufactures room air conditioners, plan, and shrimp household dwelling equipment for main Indian and MNC brands in India as an fashioned create producer (ODM).

Axis Capital, Dam Capital Advisors, and ICICI Securities are the e-book-running lead managers to the suppose of affairs.

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