EPACK Durable day 2: Issue subscribed 1.71 times so far

23 Jan 2024 , 11:18 AM

In light of the stock market holiday declared on Monday for the Ayodhya Ram Mandir ‘Pran Pratishtha’ celebrations nationwide, the subscription date for EPACK Durable Limited’s IPO has been extended until January 24, 2024. Initially scheduled from January 19 to January 23, 2024, investors can now apply for the public issue until the evening of January 24, 2024. Click here to subscribe the IPO.

After the first day of bidding, the book build issue achieved a 77% subscription rate. On the second day, the issue garnered full subscription, reaching 1.71 times subscription. Notably, the non-institutional portion of the IPO was subscribed 3.14 times, while the retail portion achieved a subscription of 2.03 times. However, the QIB portion received only 0.02 times subscription against the reserved quota.

EPACK Durable Limited, India’s second-largest original design manufacturer of room air conditioners, is offering a fresh issue of shares worth Rs 400 crore and an offer-for-sale (OFS) of 1.04 crore shares, valued at Rs 240.05 crore by existing shareholders. The IPO’s price band is set at Rs 218-230 per share, and the issue is scheduled to close on January 24.

Based in Uttar Pradesh, the company raised Rs 192.02 crore through its anchor book, launched for a day on January 18, one day before the official opening of the issue.