EPACK Durables shares make a debut on the Bourges in the main board segment on Tuesday. The shares of the company opened at a price of Rs 221 on the National Stock Exchange, a discount of 3% to the issue.
The company’s initial public offer’s (IPO) price band was set at Rs 218-230 a share. It was a mixed issue consisting of both fresh issue and offer for sale, aggregating to Rs 640.05 crore. The fresh issue was of 1.74 crore shares worth Rs 400 crore and offer for sale of Rs 240.05 crore or 1.04 crore. The issue was opened to retail investors for bidding on 19 January and got closed on 24 January.
The company’s retail segment was subscribed 6.5 times, the QIB segment 25.6 times, and the NII segment 29.1 times.
The shares of the company in the gray market were trading at a premium of Rs 5 per piece. The gray market is an unofficial market where shares trade before getting listed on the Bourges.
About the company, EPACK Durable is an original design manufacturer of room air conditioners. It also manufactures components such as sheet metal parts, cross-flow fans, injection molded parts, and PCBA which gives it an upper hand on the supply side. The company has a total of four manufacturing facilities: three in Dehradun and one in Rajasthan’s Bhiwadi.
Axis Capital, Dam Capital Advisors, and ICICI Securities were the lead book-running mangers to the issue.
