EPACK Durable IPO Eyes Strong Finish

24 Jan 2024 , 04:11 PM

Today is the last day to submit an application for EPACK Durable Limited’s initial public offering (IPO). Investors therefore have one day left to submit an application for the public offering. On the last day of bidding, the public issue has been subscribed 16.25 times, according to the EPACK Durable IPO subscription status. 

The book construction issue has been booked 16.26 times as of 4:08 PM on the third day of bidding, while its retail part has been subscribed 6.10 times. The public issue’s NII section has been booked 28.02 times, while its QIB part has received 25.50 subscriptions.

Established in 2019, EPACK Durable operates as an original design manufacturer (ODM) specializing in room air conditioners (RAC). The company is also engaged in the production of various components, including sheet metal parts, injection molded parts, cross-flow fans, and PCBA components, which play a vital role in the manufacturing of RACs.

A day before its Initial Public Offering (IPO) debut, EPACK Durable successfully secured a total of Rs 192.02 crore by allocating 83,48,504 shares at a price of Rs 230 each to anchor investors. The IPO distribution allocates 50 percent of shares to qualified institutional bidders (QIBs), 15 percent to non-institutional investors (NIIs), and the remaining 35 percent of the net offer is designated for retail investors.

EPACK Durable holds the position as India’s second-largest ODM for room air conditioners. The company prides itself on fostering enduring relationships with top-tier customers, utilizing advanced vertically integrated manufacturing processes, and maintaining robust capabilities in product development.

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