• Source:JND
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Upcoming IPO: EPAC Prefab Technologies has filed draft papers with market regulator Sebi to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP) filed on Tuesday, the IPO will see fresh issuance of shares worth Rs 300 crore and an offer for sale (OFS) of 10 million shares by the promoters.

The Greater Noida-based company may look to raise Rs 60 crore in a pre-IPO placement round. If such placement is completed, the size of the fresh issue will be reduced.

The amount raised from the fresh issue of Rs 101.62 crore will be used to set up a new manufacturing facility at Ghiloth Industrial Area in Alwar, Rajasthan; Rs 58.10 crore for expansion of the existing manufacturing facility at Mambattu, Andhra Pradesh to increase pre-engineered steel manufacturing capacity; of this, Rs 70 crore will be used for debt repayment and a part for general corporate purposes.

Founded in 1999, Apac Prefab Technologies provides pre-engineered building (PEB) solutions, including design, fabrication, and installation, to commercial, industrial, and institutional enterprises.

The company is operating three manufacturing facilities at Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan) and Mambattu (Andhra Pradesh) till December 2024.

It also operates three design centres located at Noida (Uttar Pradesh), Hyderabad (Telangana) and Visakhapatnam (Andhra Pradesh). As of September 30, 2024, Apac Prefab Technologies reported a net order book of Rs 658.54 crore and a pending order book of Rs 655 crore for its pre-fab business.

From Rs 657 crore in the previous fiscal, the company's revenue from operations grew by 38 per cent to Rs 905 crore in FY24 and profit grew from Rs 24 crore in FY23 to Rs 43 crore in FY24.

Monarch Networth Capital and Motilal Oswal Investment Advisors are the lead managers of the book, while Caffin Technologies is the registrar of the case.

(With Inputs From PTI)

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