Epack Prefab Technologies Ltd. IPO was subscribed 38% on day two. The offer aims to raise over Rs 500 crore from the primary market. The company offers pre-engineered building solutions to several industries.
The Epack Prefab Technologies IPO is a book-built issue of Rs 504 crore. It comprises a fresh issue of 1.47 crore shares worth Rs 300 crore and an offer-for-sale of one crore shares amounting to Rs 204 crore.
Retail investors can participate in the IPO by bidding for a single lot size of 73 shares, leading to an investment of Rs 14,892. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,08,488. Big Non-Institutional Investors must bid for a minimum of 68 lots, requiring an investment of Rs 10,12,656.
The price band for the IPO is set between Rs 194 and Rs 204 per share. The subscription window will be open till Sept. 26, with the allotment expected to be finalised on Sept. 29. Shares of Epack Prefab Technologies are expected to be listed on the BSE and NSE on Oct. 1.
Qualified Institutional Buyers will be offered a maximum of 50% of the net issue. Retail investors will be allocated at least 35% of the net issue and a minimum of 15% will be reserved for Non-Institutional Investors.
Monarch Networth Capital Ltd. is the book running lead manager and KFin Technologies Ltd. is the registrar of the issue.
Epack Prefab IPO: Issue Details
Open date: Sept. 24
Close date: Sept. 26
Price Band: Rs 194-204 per share
Allotment date: Sept. 29
Listing date: Oct. 1
IPO size: Rs 504 crore
Fresh issue: Rs 300 crore
OFS: Rs 204 crore
Minimum bid: Lot size of 14 shares
Epack Prefab IPO: Subscription Deatils
Epack Prefab IPO was subscribed 38% as of 10:54 a.m. on Thursday.
Institutional investors (QIB): 0.46 times or 46%
Non-Institutional investors (NII): 0.12 times or 21%
Retail investors: 0.41 times or 41%
Use Of Proceeds
The company will use proceeds from the IPO to fund capital expenditure, clear debt and for general corporate purposes.
Epack Prefab IPO: GMP
According to InvestorGain, the GMP for the Epack Prefab Technologies IPO stood at Rs 17 as of 9:53 a.m. on Sept. 25. It indicates a listing price of Rs 221 apiece at a premium of 8:33% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
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