EPACK Durable is into Industrial Original Design Manufacturers and is looking raise funds through Fresh Issue and Offer for Sale
EPACK Durable IPO: EPACK Durable Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 400 crores and an Offer for Sale up to 13,067,890 Equity Shares. Axis Capital, DAM Capital, ICICI Securities have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 400 Crs and offer-for-sale (OFS) of up to 13,067,890 equity shares by Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, Ajay DD Singhania, Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, Rajjat Kumar Bothra, ndia Advantage Fund S4 I, Dynamic India Fund S4 US I who will offload Up to 1,172,976Equity Shares, Up to 666,798Equity Shares, Up to 748,721Equity Shares , Up to 748,721Equity Shares, Up to 286,351Equity Shares, Up to 286,351Equity Shares, Up to 442,905Equity Shares, Up to 442,905Equity Shares, Up to 379,633Equity Shares, Up to 72,61,127Equity Shares and Up to 6,31,402Equity Shares..
Objects of the issue:
1) Funding capital expenditure for the expansion / setting up of manufacturing facilities - Rs230 crores, 2) Repayment and / or prepayment, in part or in full,of certain outstanding loans of Company - Rs 80 crores, and 3) General corporate purposes.
About Company:
Original Design Manufacturing company EPACK Durable Limited established in 2019 and is promoted by Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhaniaand Ajay DD Singhania. It manufacture and design complete white goods components for reputed brands. Products including RACs, induction cooktops, mixer-grinders, and water dispensers. It is one of the largest ODM manufacturer in the Indian RAC manufacturing market, with a market share of 21% in terms of volume in FY23*. Customers include 4 of the top 6 RAC brands in the Indian market, who make up approximately 50% of the Indian RAC industry in FY23*. *Source: F&S Report.
About Industry:
The Indian economy is the fifth largest in the world, with a gross domestic product (GDP) of USD 3.75 trillion in Fiscal 2023(MoSPI estimates). Over the past five years, the consumer durables market in India has experienced significant growth. In the near future, the market is anticipated to experience growth acceleration fuelled by rising rural consumption, a shorter replacement cycle, increased retail penetration, and the availability of numerous brands and products at various price points. The overall market size of consumer durables market for Fiscal 2023 is estimated at INR 1,303 billion, and the market is expected to grow at an 13.7% CAGR until Fiscal 2028. (Source: F&S Report)
Source: SEBI, BSE, NSE, DRHP, Company, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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