Epack Durable Shares End At 9.70% Discount To IPO Price

Shares of Epack Durable Ltd. ended at a discount of 9.70% to the IPO price, and it declined 7.69% from its listing price to end at Rs 208.30 apiece.

It listed at Rs 221 apiece on the NSE, a discount of 3.91% to their IPO price of Rs 230 apiece. On the Bombay Stock Exchange, the stock debuted at Rs 225, a 2.17% discount.

The 640.05 crore IPO was subscribed 16.37 times on the final day. The bids were led by non-institutional investors (28.10 times), retail investors (6.29 times) and institutional investors (25.50 times).

The IPO is a mix of a fresh issue and an offer for sale, with the price band fixed at Rs 218–230 apiece. Under the former category, the company will issue fresh equity worth Rs 400 crore.

The OFS will see promoters, promoter groups and other stakeholders offload 1.04 crore shares. Promoters Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania and Ajay Singhania are looking to sell 33.4 lakh shares between them in this portion of the IPO. India Advantage Fund S4 I and Dynamic India Fund S4 US1 will also sell stakes under the OFS.

Epack Durable raised Rs 192 crore from anchor investors before the issue opened. The company allotted 83.48 lakh equity shares to 18 funds at an upper price limit of Rs 230 apiece.

The anchor portion saw participation from Societe Generale, Copthall Mauritius Investment Ltd., Integrated Core Strategies Pte, SBI Life Insurance Co., HDFC Life Insurance Co., Bajaj Allianz Life Insurance Co., Aditya Birla Sun Life Insurance Co. and HDFC Mutual Fund.