EPACK Durable is into Industrial Original Design Manufacturers and is looking raise funds through Fresh Issue and Offer for Sale
EPACK Durable IPO is a public offering of shares by Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhaniaand Ajay DD Singhania.. The IPO will open on January 19 and will close on January 23. The price band is ₹218 to ₹230 per share and the lot size is 65 shares. The issue size is ₹640.05 crore. The shares are expected to be listed on NSE, BSE on January 29 (^). Some additional information that you may find useful are: : (**) - based on higher price band (^) indicative date
Also READ: EPACK Durable files DRHP with SEBI for the proposed IPO; Key Details here
Key Pointers of EPACK Durable IPO:
Promoters of the company are Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhaniaand Ajay DD Singhania. Currently promoters hold 65.36% stake in the company. While post-equity promoters stake will be 48.09%
- Company aims to raise between Rs 628 to 640 crs through this IPO.
- The net proceeds of the issue will be utilized to 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
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 18-Jan-24.
- Price band for the IPO has been fixed at Rs 218 to 230 per share and bid lot are in multiple of 65 shares. The implied market cap post-issue at Rs 2,109 to 2,203 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on January 24 and share are expected to be listed on NSE, BSE on January 29.
- Company has direct competition in the Original Design Manufacturers space with listed players including Amber Enterprises Ltd., PG Electroplast Ltd., Dixon Technologies (India) Ltd. and Elin Electronics Ltd.
- Axis Capital, DAM Capital, ICICI Securities has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.
About EPACK Durable Limited
EPACK Durable LimitedOriginal 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, IPO Status, Industry Data |
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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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