EPACK Durable IPO listing date has been set for Tuesday January 30. EPACK Durable Limited IPO allotment was finalized on Friday, January 26. The EPACK Durable IPO allocation process began on Thursday, January 25. EPACK Durable IPO managed to sail through all three days slowly. yet consistently, receiving favorable responses from both retail and non-institutional investors. On day 3, EPACK Durable IPO subscription status was 16.37 times, according to data available on BSE.
Also Read: EPACK Sustainable IPO allotment completed; GMP lapses, steps to check EPACK IPO status
The beginning of the repayment began today (Monday, January 29) for individuals not given shares. Those allotted will get their shares in their demat accounts on the same day itself.
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Let’s check what EPACK Durable IPO GMP signals today before listing.
EPACK Durable IPO GMP today
EPACK Durable IPO GMP or gray market premium is +5, marginally more than yesterday’s session where it was +3. This indicates that the share price of EPACK Durable was trading at a premium of ₹5 in the gray market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the gray market, the estimated listing price of EPACK Durable’s share price was indicated at ₹235 a piece, which is 2.17% higher than the IPO price of ₹230.
Based on the last 21-session gray market activities, today’s IPO GMP is showing signals to the downside. The lowest GMP is ₹0, while the highest GMP is ₹31, according to analysts from investorgain.com.
“Grey market premium” indicates the willingness of investors to pay more than the issue price.
Also Read: EPACK Durable IPO fully booked on day 2 on strong retail, NII interest; GMP constant
EPACK Continued IPO details
EPACK Durable IPO, what is it worth ₹640.05 crores, consists of a fresh number of ₹400 crore, and an offer for sale (OFS) of 1.04 crore equity shares from the promoters and other investors.
In the OFS, 51.75 lakh shares valued at ₹119 crores, 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 of the new issue to finance the following purposes: financing of capital expenditures for the establishment or expansion of production facilities; repayment and/or prepayment of any outstanding company loans, whether in whole or in part; and overall corporate goals.
Also Read: EPACK Sustainable IPO: Latest GMP, list date, how to check allotment status online
“Furthermore, our company expects to receive the benefits of listing equity shares on the stock exchanges including strengthening 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-keeping 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 sails smoothly on last day of offering; number ordered 16.37 times
Disclaimer: The above views and recommendations are those of individual analysts, experts and trading companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 29 Jan 2024, 15:35 IST