Euro Pratik Sales Raises Rs 135 Crore From Anchor Investors Prior To IPO Launch
Mutual funds have collectively netted 25.93% of Euro Pratik Sales anchor portion.
Euro Pratik Sales Ltd. raised Rs 134.97 crore from anchor investors on Monday, ahead of its initial public offering. The company allotted 54.6 lakh shares at Rs 247 apiece to 10 anchor investors.
Pinebridge Global Funds- Pinebridge India Equity Fund got the highest allocation of 24.69%. Turnaround Opportunities Fund got the second highest allotment of 19.73% and Motilal Oswal Large Cap Fund got 18.52% stake in the company.
Two domestic mutual funds have applied through two schemes, the decorative wall panel industry maker said in an exchange filing on Monday. They have collectively netted 25.93% of the anchor portion. Motilal Oswal and ITI were the fund houses in this category.
Axis Capital and DAM Capital Advisors are the book-running lead managers to the issue.
The company will launch its initial public offering on Tuesday to raise up to Rs 451.32 crore. The company has set a price band of Rs 235-247 per share for its three-day IPO. It comprises entirely an offer-for-sale of 1.83 crore shares.
As the IPO is entirely an offer-for-sale, the company will not receive any funds. Through the IPO, it aims to achieve the benefits of listing shares on the stock exchanges.
Euro Pratik, a prominent player in the decorative wall panel industry has an extensive product range catering to both residential and commercial applications, which is predominantly sold under its flagship brands 'Euro Pratik' and Gloirio.
The company operates on an asset-light model - it outsources manufacturing to contract partners across South Korea, China, and the US. As of March 31, 2025, its distribution network spans across 116 cities in India, with 180 distributors operating across 25 states and five union territories in India.
The company’s revenue from operations increased by 28% to Rs 284.23 crore for fiscal 2025 from Rs 222 crore in the preceding fiscal. Profit after tax rose by 21.51% to Rs 76.44 crore for fiscal 2025 against Rs 63 crore in fiscal 2024.
The company's shares will be listed on the National Stock Exchange and BSE.
