EPACK Durable's IPO received 3.67 times subscription on the second day, with strong interest from retail and non-institutional investors. The IPO aims to raise Rs 640 crore for expansion and debt repayment.
New Delhi, Jan 23 (PTI) The Initial Public Offering (IPO) of EPACK Durable, an outsourced design manufacturer of room air conditioners, got subscribed 3.67 times on the second day of subscription on Tuesday.
The initial share sale received bids for 7,33,70,765 shares, as against 1,99,77,615 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) got subscribed 3.80 times, while the quota for non-institutional investors received 7.90 times subscription.
The portion meant for Qualified Institutional Buyers (QIBs) was subscribed 17 per cent.
The IPO has a fresh issue of Rs 400 crore and an offer-for-sale of up to 1,04,37,047 equity shares.
The IPO has a price range of Rs 218-230 a share.
EPACK Durable Ltd had 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.
Proceeds of the fresh issue will be utilised for funding capital expenditure for the setting up of manufacturing facilities, payment of loans, and general corporate purposes.
Founded in 2002, EPACK Durable manufactures room air conditioners and small household appliances.
It has integrated manufacturing facilities in Dehradun and Bhiwadi, Rajasthan where 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.
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