Epack Durable Ltd. launched its initial public offering on Friday to raise Rs 640.05 crore. The maiden share sale will continue till Jan. 23.
The IPO is a mix of a fresh issue and an offer for sale, with the price band fixed at Rs 218–230 apiece. Under the former category, the company will issue fresh equity worth Rs 400 crore.
The offer for sale will see promoters, promoter groups and other stakeholders offload 1.04 crore shares. Promoters Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania and Ajay DD Singhania are looking to sell 33.37 lakh shares between them in this portion of the IPO. India Advantage Fund S4 I and Dynamic India Fund S4 US1 will also sell stakes under the OFS.
On Thursday, Epack Durable raised Rs 192 crore from anchor investors before the issue opened. The company allotted 83.48 lakh equity shares to 18 funds at an upper price limit of Rs 230 apiece.
The anchor portion saw participation from Societe Generale, Copthall Mauritius Investment Ltd., Integrated Core Strategies Pte Ltd., SBI Life Insurance Co., SBI General Insurance Co., HDFC Life Insurance Co., Bajaj Allianz Life Insurance Co., Aditya Birla Sun Life Insurance Co. and HDFC Mutual Fund.
Issue Details
Issue opens: Jan. 19.
Issue closes: Jan. 23.
Total issue size: Rs 640.05 crore.
Face value: Rs 10 apiece.
Fixed price band: Rs 218-230 per share.
Minimum lot size: 65 shares.
Listing: NSE and BSE.
Subscription Status: Day 1
The IPO was subscribed 0.77 times, or 77%, as of 5:00 p.m. on Friday.
Institutional investors: 0.1
Non-institutional investors: 0.82 times, or 82%
Retail investors: 1.17 times
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