On the third day, the portion of retail investors of EPACK IPO was subscribed to 5.91 times, NII share was subscribed to 27.14 times, and QIB share was reserved 23.78 times.
Within minutes of the issue opening on the second day, the EPACK Durable IPO was fully booked. All tranches were oversubscribed, with the exception of qualified institutional buyers (QIBs) in the opening hour. EPACK Durable IPO was subscribed 3.68 times on the second day.
On day 2, the portion of retail investors of EPACK Durable IPO was subscribed to 3.81 times, NII share was subscribed to 7.90 times, and QIB share at the end of day 2 was reserved by 17%.
Also Read: EPACK Durable IPO fully booked on day 2 on strong retail, NII interest; GMP constant
Slowly and steadily, the retail portion of EPACK Durable IPOs was fully booked on the first day. The EPACK Durable IPO subscription status was 77% at the end of day 1. The portion of retail investors of EPACK Durable IPO was subscribed to 1.17 times, Non Institutional Investors (NII) portion was subscribed to 82%, and Qualified Institutional Buyers ( QIB) part was. reserved 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 set 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 allotting 83.48 lakh equity shares at ₹230.
Also Read: EPACK Durable IPO subscription 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 promoters of the company are Ajay DD Singhania, Sanjay Singhania, Laxmi Pat Bothra, and Bajrang Bothra.
According to the F&S Report, the company is the second largest original design room air conditioner manufacturer (ODM) in India by the number of units (indoor + outdoor) manufactured in fiscal 2023 through the ODM route, as stated in the red of the company. herring prospect (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), according to RHP.
EPACK Ongoing IPO subscription status
EPACK Durable IPO received bids for 30,95,42,675 shares against 1,99,77,615 shares offered, at 15:33 IST, according to data from the BSE.
The retail investors portion of EPACK Durable Limited IPO received bids for 5,95,57,875 shares as against 1,00,74,985 shares offered for this segment.
The non-institutional investors portion of EPACK Durable IPO received bids for 11,71,73,030 shares against 43,17,851 offered for this segment.
The QIBs portion of EPACK Durable Limited IPO received bids for 13,28,11,770 shares against 55,84,779 shares offered for this segment.
Also read: EPACK Durable IPO: Issue subscribed 77% on day 1, retail portion fully reserved; GMP is rising
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.
The book-keeping leads 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 extended. GMP, review, apply or not?
EPACK Durable IPO GMP today
EPACK Durable IPO GMP or gray market premium is +18, where it fell drastically from the previous six sessions. This indicates that the share price of EPACK Durable was trading at a premium of ₹18 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 ₹248 per which is 7.83% higher than the IPO price of ₹230.
Based on the last 16-session gray market activities, today’s IPO GMP is pointing up and expecting a strong listing. 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 Day 3: GMP, subscription status, other details. Are you applying because the offer ends today
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: 24 Jan 2024, 15:53 IST