IPO: EPACK Durable Sets Price Range At Rs 218-230; IPO To Open On January 19

EPACK Durable IPO:  EPACK Durable Ltd, a maker of outsourced design of room air conditioners, on Tuesday priced its Rs 640 crore initial public offer (IPO) at Rs 218-230 per share.

The offering will open for public subscription on January 19 and will close on January 23. According to a public notice issued by the company, the auction for anchor investors will be opened on January 18.

EPACK Durable Ltd IPO issue size

The IPO consists of Rs 400 crore worth of equity shares and an offer for sale (OFS) of 1.3 crore shares by the promoters, promoter board members and existing shareholders.

Under the OFS, two investment partners - India Advantage Fund S4 and Dynamic India Fund S4 US1 - will offload shares apart from the promoters.

On top of the price list, the initial public offering is expected to raise Rs 640 crore.

The proceeds from the new issue will be used for capital expenditure for setting up production facilities, repayment of debt and general corporate purposes.

Half of the issue volume is reserved for qualified institutional buyers (QIB), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NII).

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About EPACK Durable

Established in 2002, EPACK manufactures durable room coolers and small home appliances.

The company has integrated manufacturing facilities at Dehradun and Bhivari in Rajasthan, where it is an original design manufacturer (ODM) of room air conditioners, components and small home appliances for leading Indian and MNC brands in India.

Previous Fund Raise

In September 2022, EPACK Durable raised USD 40 million (approx. Rs. 318 crore) in a second round of funding led by Affirma Capital. It raised USD 24 million from ICICI Ventures in its first round of funding.

Axis Capital, Dam Capital Advisors and ICICI Securities are the lead book-running managers for the issue.

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