EPACK Durable IPO opens today: GMP, review, other details. Buy or not?
EPACK Durable IPO: The initial public offering (IPO) of EPACK Durable Limited has hit the primary market today and will remain open for bidders till 23rd January 2024. The company has fixed the EPACK Durable IPO price band at ₹218 to ₹230 per equity share. The book build issue is proposed for listing on BSE and NSE and shares of the company are available in the grey market as well. According to stock market observers, EPACK Durable shares are available at a premium of ₹33 in the grey market today.
Important EPACK Durable IPO details
1] EPACK Durable IPO GMP: Shares of the company are available at a premium of ₹33 in the grey market today, say market observers.
2] EPACK Durable IPO price: The company has fixed the price band of the public issue at ₹218 to ₹230 per equity share.
3] EPACK Durable IPO date: The book build issue has opened today and it will remain open for subscribers till 23rd January 2024.
4] EPACK Durable IPO size: The company aims to raise ₹640.05 crore out of which ₹400 crore is aimed through issuance of fresh shares. The remaining ₹240.05 crore is reserved for the OFS route.
5] EPACK Durable IPO lot size: A bidder will be able to apply in lots and one lot of the book build issue will comprise 65 shares of the company.
6] EPACK Durable IPO allotment date: Finalisation of the share allocation is most likely on 24th January 2024.
7] EPACK Durable IPO registrar: Kfin Technologies Ltd has been appointed as the official registrar of the book build issue.
8] EPACK Durable IPO listing: The public issue is proposed for listing on BSE and NSE.
9] EPACK Durable IPO listing date: The mainboard issue is most likely to list on 29th January 2024.
EPACK Durable IPO: Should you subscribe?
10] EPACK Durable IPO review: Giving a ‘subscribe’ tag to the book build issue, Arihant Capital said, “EPACK Durables has a 24% market share in terms of domestically manufactured units by ODM in FY23. The plants are vertically integrated and automated would improve the margins going forward. The IPO proceeds of INR 2,300mn would be used for capacity expansion would lead to incremental business going forward. The increase in wallet share from existing customers through cross-selling and expanding the customer base will increase the business going forward. The new product launches in the appliances portfolio would reduce the business fluctuation due to seasonality going forward. At the upper band of INR 230, the issue is valued at an EV/EBITDA of 20.2x based on FY23 EBITDA and PE of 51.4x based on FY23 EPS of INR 4.5. We are recommending “Subscribe for Long Term” for this issue.”
BP Equities has also given a ‘subscribe’ tag to the book build issue saying, “On the financial performance front, the company’s Revenue/EBITDA/PAT grew at a CAGR of 44.6%/56.2%/102.5% during the FY2021- 23 period. On the upper price band, the issue is valued at a P/E of 49.6x based on FY2023 earnings which we feel is fairly valued and is lower than its comparable peers. We, therefore, recommend a “Subscribe” rating to the issue from a medium to long-term perspective.”
Choice Broking has also given a ‘subscribe’ tag to the public issue whereas Swastika Investmart has given a ‘may apply’ tag to the public issue. However, InCred has given an ‘avoid’ tag to the public issue.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 19 Jan 2024, 08:58 AM IST
