EPACK Durable IPO day 3: Issue subscribed 5.28 times

24 Jan 2024 , 12:41 PM

As of the conclusion of the bidding process for EPACK Durable IPO today, the issue has garnered strong investor interest. On January 23, the second day of bidding, the IPO was oversubscribed by 3.67 times, with investors subscribing for 7.34 crore equity shares against the offer size of 1.99 crore shares.

On the final day, the subscription rate increased to 5.28 times. The retail portion saw a robust subscription of 4.76 times, the non-institutional portion received significant interest with a subscription rate of 13.17 times, while the Qualified Institutional Buyer (QIB) portion subscribed at 0.19 times.

Originally scheduled to close on January 23, the IPO was extended by a day until January 24 due to the public holiday declared on January 22 for the Ram Mandir opening.

EPACK Durable, an original design manufacturer of room air conditioners based in Uttar Pradesh, launched its public issue for subscription on January 19, aiming to raise Rs 640.05 crore. The IPO consists of a fresh issuance of shares worth Rs 400 crore and an offer-for-sale of 1.04 crore shares worth Rs 240.05 crore by existing shareholders. The price band for the offer has been set at Rs 218-230 per share.

Notably, EPACK Durable secured Rs 192.02 crore through its anchor book on January 18.