Epack Prefab Technologies Ltd., shares made a muted debut on the stock market on Wednesday, listing at a premium of just 9.88% over the IPO price. The share price opened at Rs 183.85 on the NSE and Rs 186 on the BSE, compared to the issue price of Rs 204.
The stock plunged as much as 7.9% after the listing.
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. The price band for the IPO is set between Rs 194 and Rs 204 per share.
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The initial public offering (IPO) of Epack Prefab Technologies was oversubscribed 3.07 times on the third and final day of bidding on September 26.
According to BSE data, the IPO received bids for 5,42,98,933 shares against 1,76,70,103 offered.
The Qualified Institutional Buyers (QIBs) booked the issue 5.10 times. The Non-Institutional Investors' (NIIs) category was subscribed 3.68 times. Retail investors booked their quota 1.69 times.
The company offers pre-engineered building solutions to several industries.
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