Epack Durable Sets IPO Price Band At Rs 218–230 Per Share
The IPO is scheduled to open on Friday and investors can subscribe to the offer till Jan. 23.
Epack Durable Ltd. has set a price band of Rs 218–230 per share at a face value of Rs 10 each for its initial public offering, it said on Tuesday.
The IPO is a mix of a fresh issue and an offer for the sale of equity shares. The total issue size is Rs 640.1 crore, the air-conditioner original design manufacturer said in a release on Tuesday.
Epack will issue fresh equity worth Rs 400 crore in the three-day issue. The OFS will see promoters and investors sell over 1.04 crore equity shares. At the upper limit of the price band, the company is looking to raise Rs 240.05 crore, it said.
Promoters Bajrang Bothra, Laxmi Bothra, Sanjay Singhania and Ajay Singhania will offload their shares, including India Advantage Fund S4 and Dynamic India Fund S4 US.
The IPO is scheduled to open on Friday, and investors can subscribe to the offer till Jan. 23. The anchor portion will be available for subscription on Thursday.
Epack is the second-largest room-air-conditioner original design manufacturer in India in terms of the number of units manufactured in the last financial year through the ODM route, according to its red herring prospectus
