January 29, 2024
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Epack Durable IPO GMP, Details to watch, Guidance & Subscription Status @ Chanakyanipothi.com
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Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Epack Durable IPO Post Listing Review:
Listed at Rs. 221, at discount of 3.91% over the issue price. The listing has been quite below the expectations of the grey market.
What is the latest GMP of Epack Durable IPO?
Premium: Rs. 6
R- Subject to Rate Rs. 300
H-Application Rate Rs.
H-Subject to Rate Rs.4200
What is the Subscription Status of Epack Durable IPO?
On 20 January 2024 @ 5.00 pm (Day 3)
Review: Not so high subscription until now.
QIB: 5584779 Shares 25.56 T
NII(10L+): 2878567 Shares 31.64 T
NII (<10L) 1439284 Shares 21.01 T
NII (Total) 4317851 Shares 28.10 T
RII: 10074985 Shares 6.29 T
Total: 19977615 Shares 16.37 T
Who are the promoter of Epack Durable IPO?
BAJRANG BOTHRA, LAXMI PAT BOTHRA, SANJAY SINGHANIA ANDAJAY DD SINGHANIA
What is the business of Epack Durable IPO?
Epack Durable is the fastest growing room air conditioner original design manufacturers (“ODM”) based on growth in volume manufactured between Fiscals 2020 and 2023 in India. Further, it is the second largest ODM manufacturer in the Indian room air conditioner manufacturing market, with a market share of 29% in terms of volume manufactured in Fiscal 2023 (this does not include the units which are imported as kits and gas filling is done in India). It is a customer-centric business driven by a focus on continuing innovation and operational efficiency. Since 2003, it has been on a journey of evolution, where it initially started as an OEM for RAC brands. Driven by its focus on product development and innovation, it evolved into an ODM partner for RACs for its customers.
It also identified the opportunity to increase its value addition in its offerings to customers, and accordingly, started manufacturing of various components such as sheet metal, injection moulded, cross flow fans and PCBA components which are actively used in the manufacturing of RACs. In parallel, it capitalised on its existing manufacturing infrastructure to strategically expand its operations in the small domestic appliances (“SDA”)market, particularly considering the seasonality of the demand for RACs, and currently design and manufacture induction cooktops, mixer-grinders, and water dispensers.
Its product portfolio currently comprises the following:
1.Room air conditioners. It also manufactures split inverter air conditioners.
2.Small domestic appliances
3. Components:
It has dedicated R&D centres in Greater Noida, Bhiwadi and Dehradun.
The company commenced its operations with a single manufacturing unit in Dehradun, Uttarakhandin 2003, and has since expanded its manufacturing operations with Dehradun Unit II, Dehradun Unit III and Dehradun Unit IV, and its manufacturing facility at Bhiwadi, Rajasthan. It has an aggregate installed annual manufacturing capacity as on March 31, 2023 to manufacture (i) 0.90 million IDUs, 0.66 million ODUs, 0.36 million ODU Kits and 0.42 million WACs, and (ii) 0.11 million water dispensers, 1.2 million induction cook-tops and0.30 million mixer grinders, and components thereof.
For more information, click www.epackdurable.com
What is the Object of Epack Durable IPO?
This is fresh issue of capital and also an offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
1.Funding capital expenditure for the expansion / setting up of manufacturing facilities
2.Repayment and / or prepayment, in part or in full, of certain outstanding loans of the Company
3.General corporate purposes.
Epack Durable IPO GMP, Particulars & Guidance
| Epack Durable IPO Details | |
| IPO opens on | 19 January 2024 |
| IPO closes on | 23 January 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 24828351 Sh /Rs 640.05 Cr |
| * Fresh Issue | 17391304 Sh /Rs 400 Cr |
| * Offer for Sale | 10437047 Sh /Rs 240.05 Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 218-230 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 65 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Epack Durable? | Shares | Rs. in Cr |
| QIB (50 %) | 12414176 | 320.03 |
| NII (15 %) | 3724252 | 96.01 |
| RII (35 %) | 8689923 | 224.02 |
| Employees | – | – |
| Total Shares | 24828351 | 640.05 |
| Retail portion will be oversubscribed by | X Forms. | |
| How to apply in Epack Durable IPO ? | Amount Rs. | |
| Min Retail Application | 65 Sh | 14950 |
| Max Retail Application | 845 Sh | 194350 |
| Small HNI (Min) application | 910 Sh | 209300 |
| Small HNI (Max) application | 4290 Sh | 986700 |
| Big HNI Application | 4355 Sh | 1001650 |
| What is the timetable of Epack Durable IPO? | |
| IPO opens on | 19 January 2024 |
| IPO Closes on | 23 January 2024 |
| IPO Allotment on | 24 January 2024 |
| Unblocking of ASBA | 25 January 2024 |
| Credit of Shares | 25 January 2024 |
| Listing on | 29 January 2024 |
| Registered Office of Epack Durable | |
| 61-B, Udyog Vihar, Surajpur, Kasna Road, Greater Noida, Gautam Buddha Nagar201 306, Uttar Pradesh, India. | |
| Who are the Lead Managers of Epack Durable IPO? Axis Capital Limited DAM Capital Advisors Limited ICICI Securities Limited | |
| Registrar to IPO | |
| KFin Technologies Limited |
| Epack Durable IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 740 | 7.80 | 1.62 | 12.00 |
| 2021-22 | 927 | 17.43 | 3.47 | 18.28 |
| 2022-23 | 1540 | 31.97 | 4.71 | 14.68 |
| Book Value of the Share on 31.03.2023 | Rs. | 46.21 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 230 | ||
| Epack Durable IPO Ratio Analysis | |
| Upper Price /EPS | 48.83 |
| Upper Price/Book Value | 4.98 |
| Upper Price/BV after IPO | ? |
How Epack Durable IPO compares with the Peers?
Peer Comparison.
| As on date of DRHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| The IPO Company | 1539 | 10 | 48.83 |
| Amber Enterprises | 6927 | 10 | 66.28 |
| PG Electroplast | 2160 | 10 | 67.27 |
| Dixon Technologies | 12192 | 2 | 139.96 |
| Elin Electronics | 1075 | 2 | 24.28 |
| X | – | – | – |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Epack Durable IPO IPO Guidance (Short & Sweet)
Epack Durable is the fastest growing room air conditioner original design manufacturers (“ODM”) based on growth in volume manufactured between Fiscals 2020 and 2023 in India. Further, it is the second largest ODM manufacturer in the Indian room air conditioner manufacturing market, with a market share of 29% in terms of volume manufactured in Fiscal 2023.
In parallel, it capitalised on its existing manufacturing infrastructure to strategically expand its operations in the small domestic appliances (“SDA”)market, particularly considering the seasonality of the demand for RACs, and currently design and manufacture induction cooktops, mixer-grinders, and water dispensers.
Size of the IPO: The IPO size of Rs. 640.05 is not so large. and just Rs. 96.01 cr is offered to the HNIs. Huge oversubscription is not ruled out.
Valuation: Compared to other ODMs, the IPO price is very reasonable and offers scope for listing gains as well may bring in good returns as medium term investment. Apply With FF.
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