EPACK Durables, a manufacturer of room air conditioners and components, made its debut on the National Stock Exchange (NSE) on Tuesday. The shares opened at Rs 221, marking a 3% discount to the issue price. The initial public offering (IPO) price band was set at Rs 218-230 per share.
IPO Details: The IPO comprised a mix of fresh issue and offer for sale, totaling Rs 640.05 crore. The fresh issue consisted of 1.74 crore shares worth Rs 400 crore, while the offer for sale amounted to Rs 240.05 crore for 1.04 crore shares. The IPO was open to retail investors from January 19 to January 24.
Subscription Statistics: EPACK Durables witnessed strong subscription across segments, with the retail segment subscribed 6.5 times, the Qualified Institutional Buyers (QIB) segment 25.6 times, and the Non-Institutional Investors (NII) segment 29.1 times.
Grey Market Premium: Prior to its listing on the bourses, shares of EPACK Durables were trading in the grey market at a premium of Rs 5 per piece. The grey market serves as an unofficial platform for trading shares before their official listing.
Company Profile: EPACK Durables specializes in original design manufacturing of room air conditioners and components, including sheet metal parts, cross-flow fans, injection molded parts, and PCBA. With manufacturing facilities in Dehradun and Bhiwadi, the company holds a strategic advantage in the supply chain.