EPACK Durable IPO Oversubscribed 16.37 Times

New Delhi, Jan 24 (PTI) The initial share sale of EPACK Durable was subscribed 16.37 times on the final day of subscription on Wednesday.

EPACK Durable manufactures room air conditioners and small household appliances.

The Initial Public Offering (IPO) received bids for 32,70,94,495 shares as against 1,99,77,615 shares on offer, as per NSE data.

The category for Non-Institutional Investors (NIIs) got subscribed 28.10 times while the quota for Qualified Institutional Buyers (QIBs) received 25.50 times subscription.

The portion meant for Retail Individual Investors (RIIs) fetched 6.29 times subscription.

The IPO has a fresh issue of Rs 400 crore and an Offer For Sale (OFS) of up to 1,04,37,047 equity shares. The price band was fixed at Rs 218-230 a share.

EPACK Durable raised Rs 192 crore from anchor investors on January 18.

At the upper end of the price band, the public issue is expected to mobilise Rs 640 crore.

Founded in 2002, the company has integrated manufacturing facilities in Dehradun (Uttarakhand) and Bhiwadi (Rajasthan). It manufactures room air conditioners, components, and small household appliances for leading Indian and MNC brands in India as an Original Design Manufacturer (ODM).

Axis Capital, DAM Capital Advisors and ICICI Securities are the managers to the offer.