Epack Durable IPO: Check Subscription Status, GMP Today

ePack Sustainable IPO: The initial public offering of EPACK Durable, which opened for public subscription on Friday, January 19, has already been oversubscribed. As of 2:43 pm on the second day of bidding on Tuesday, January 23, the Rs 640.05 crore IPO was subscribed 2.72 times, drawing bids for 5,29,01,485 shares against 1,94,79,846 shares.

The IPO will be open for subscription on January 24. The IPO was subscribed 77 per cent on the first day of subscription on Friday.

EPACK is an outsourced design manufacturer of durable room air conditioners.

epac durable ipo gmp today

According to market observers, unlisted shares of Epack Durable are trading Rs 25 higher than their issue price in the gray market. The gray market premium or GMP of Rs 25 means the gray market is expecting 10.87 per cent listing profit from the public issue. GMP is based on market sentiments and keeps changing.

The ‘grey market premium’ refers to the willingness of investors to pay more than the issue price.

Epack Sustainable IPO Details

The initial public offering (IPO) involves a fresh issue of Rs 400 crore and an offer for sale of 1,04,37,047 equity shares. The price range of the IPO is Rs 218-230 per share. EPACK Durable Ltd on Thursday raised Rs 192 crore from anchor investors.

At the upper end of the price band, the public issue is expected to raise Rs 640 crore. The proceeds from the fresh issue will be used to finance capital expenditure for setting up manufacturing facilities, repayment of loans and general corporate purposes.

Established in 2002, EPACK manufactures durable room air conditioners and small home appliances. It has integrated manufacturing facilities in Dehradun and Bhiwadi, Rajasthan where it manufactures room air conditioners, components and small home appliances for leading Indian and MNC brands in India as an Original Design Manufacturer (ODM).

Axis Capital, DAM Capital Advisors and ICICI Securities are the managers of the offer.