EPACK Durable IPO: Key Dates, Size and Listing 2024

What the EPACK Durable IPO was about

EPACK Durable’s initial public offering (IPO) drew attention in January 2024 as a sizeable book-built issue in India’s primary market. The offer size was ₹640.05 crore, combining a fresh issue of ₹400.00 crore and an offer for sale (OFS) of ₹240.05 crore. The company is known as an outsourced design manufacturer (ODM) of room air conditioners and also makes small domestic appliances, as cited in the provided information.

The IPO timeline was closely tracked because it came during a busy period for new issues. Market participants also watched the grey market indications and subscription data ahead of the stock’s debut on the exchanges. Alongside EPACK Durable’s listing, investors were also monitoring other contemporaneous IPOs such as Nova Agritech, Brisk Technovision, Qualitech Labs, Euphoria Infotech India, and Maxpose.

Issue structure: fresh issue and OFS

As disclosed, the IPO was structured as a mix of new equity issuance and shareholder selling. The fresh issue portion totalled 1.74 crore shares aggregating to ₹400.00 crore, while the OFS component was 1.04 crore shares aggregating to ₹240.05 crore.

This structure matters for investors because proceeds from the fresh issue typically go to the company, while OFS proceeds go to the selling shareholders. The article inputs only specify the amounts and share counts, so the use of funds is not detailed here.

Price band, issue price, and grey market indication

EPACK Durable set a price band of ₹218 to ₹230 per share. Multiple references in the provided text indicate an issue price of ₹230, which corresponds to the upper end of the band.

Ahead of listing, the shares were reported to be trading at a grey market premium (GMP) of about ₹6 over the issue price of ₹230. GMP is an unofficial indicator and is not an exchange-traded price, but it often reflects near-term sentiment going into the listing day.

Subscription: strong demand reported at close

The IPO was reported as heavily subscribed. The provided information cites subscription figures of about 16 times, 16.3 times, and 16.79 times as of 24 January 2024. Taking the figures together, the demand was described as strong across reports, with the most specific snapshot stating 16.79 times subscription by the close date mentioned.

Because subscription levels can be referenced at slightly different cut-off times or across different sources, investors typically rely on final exchange data and the final basis of allotment for definitive numbers.

Key IPO dates: open, close, allotment, and listing

The timeline shared in the inputs indicates bidding opened on 19 January 2024 and closed on 24 January 2024. The basis of allotment was finalised on 25 January 2024, followed by refunds and demat credit on 29 January 2024. The shares listed on BSE and NSE on 30 January 2024.

Some parts of the provided text also mention a 23 January close and a 29 January listing date. However, the consolidated event table included in the inputs provides a complete schedule ending with listing on 30 January 2024, and that is presented below as the detailed timeline.

Lot size and retail application: what investors saw

The inputs include different references to minimum application size. One part states a minimum of 1 lot of 35 shares, while other parts repeatedly state the lot size is 65 shares, along with a maximum of 13 lots (845 shares) and a maximum application value of ₹1,94,350.

Notably, 845 shares equals 13 lots of 65 shares, which supports the 65-share lot size cited elsewhere. The text also provides a minimum and maximum application value of ₹14,950 and ₹1,94,350. Investors generally confirm the applicable lot size and amounts from the Red Herring Prospectus (RHP) and their broker’s final bidding screen.

Anchor book allocation disclosed

EPACK Durable disclosed an anchor allocation of 83,48,504 equity shares at ₹230 per share. At that price, the anchor allocation works out to about ₹192.02 crore (computed as 8,348,504 shares multiplied by ₹230).

Anchor participation is typically watched because it shows institutional interest ahead of the public portion of the book-building process. The inputs do not provide a detailed list of anchor investors, only the share count, price, and the company’s filing reference.

How investors could check allotment status

The provided information notes that investors could check the allotment status on the BSE website or on the registrar’s website. Allotment was described as being done through a lottery process for eligible categories.

The timeline also indicates that refunds (for non-allottees) and demat credit were scheduled for 29 January 2024, shortly before the stock’s listing on 30 January 2024.

Company and registrar contact details provided

The inputs include contact details for EPACK Durable and the registrar.

EPACK Durable (address and contacts as provided):

• Address: 61-B Udyog Vihar SurajpurKasna Road Greater Noida, Gautam Buddha Nagar-201306
• Phone: 91-120-2569077
• Email: investors_ed@epack.in
• Website: www.epackdurable.com

Registrar (KFin Technologies) contacts as provided:

• Phone: + 91 40 6716 2222
• Email: epack.ipo@kfintech.com
• Website: www.kfintech.com

Broader IPO market context: a crowded pipeline

The inputs also point to a busy IPO pipeline around the same period. They state that 25 draft offer documents were under process with SEBI, while nearly 30 companies had already received approval to proceed, with the approvals aimed at raising over ₹30,000 crore.

This context matters because primary market sentiment and the calendar of competing issues can influence investor attention, liquidity, and overall subscription patterns across offerings.

EPACK Prefab Technologies’ separate IPO filing

Separately, the information also notes that EPACK PREFAB Technologies Limited filed draft IPO papers with SEBI. The preliminary filing indicates a proposed IPO comprising a fresh issue of shares up to ₹300 crore and an offer for sale up to 1 crore shares by promoter group and selling shareholders.

The filing also mentions the company may consider a pre-IPO placement of up to ₹60 crore, and that the equity shares are proposed to be listed on NSE and BSE. This is a different entity and a separate IPO process from EPACK Durable’s completed January 2024 offering.

Conclusion

EPACK Durable’s ₹640.05 crore IPO combined a ₹400.00 crore fresh issue and a ₹240.05 crore OFS, opened on 19 January 2024, and led to listing on NSE and BSE on 30 January 2024. Demand was reported strong, with subscription figures clustered around 16x to 16.79x, and an anchor allocation of 83,48,504 shares at ₹230.

For investors tracking similar offerings, the next key updates typically come from exchange disclosures and offer documents for new filings, including developments on EPACK Prefab Technologies’ draft IPO process with SEBI.