EPack Prefab Tech Raises Rs 151 Crore From Anchor Investors Ahead Of IPO
The IPO comprises fresh issues of shares worth Rs 300 crore and an offer for sale of 1 crore shares by promoters valued Rs 204 crore at the upper end.
EPack Prefab Technologies on Tuesday said that it has garnered Rs 151.2 crore from anchor investors, a day ahead of the debut of its initial public offering on Wednesday.
The Rs 504 crore IPO is set to open for subscription on September 24 and close on September 26. The Greater Noida-based company has fixed a price band of Rs 194 to Rs 204 per share for its maiden public offering.
As per a circular on BSE, Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, WhiteOak Capital Mutual Fund and Ashika Global Securities were among the anchor investors.
EPack Prefab Technologies has allotted 74.12 lakh equity shares to 16 funds at Rs 204 apiece, the circular added.
The IPO comprises fresh issues of shares worth Rs 300 crore and an offer for sale of 1 crore shares by promoters valued Rs 204 crore at the upper end.
Proceeds from the fresh issue to the extent of Rs 101.62 crore will be used for setting up a new manufacturing facility at Ghiloth Industrial Area at Alwar in Rajasthan; Rs 58.10 crore for expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh for increasing the pre-engineered steel building capacity; Rs 70 crore for payment of debt and a portion will be used for general corporate purposes.
Incorporated in 1999, EPack Prefab Technologies provides pre-engineered building solutions, covering design, fabrication, and installation for industries across commercial, industrial, and institutional sectors.
The company operates three manufacturing facilities in Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh) as of December 2024. It also operates three design centres located in Noida (Uttar Pradesh), Hyderabad (Telangana), and Visakhapatnam (Andhra Pradesh).
In terms of issue allocation, 50% of the IPO is reserved for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers, while KFin Technologies is the registrar to the issue.
Shares of EPack Prefab Technologies are expected to list on the stock exchanges on October 1.
(With PTI Inputs)
