Epack Prefab Technologies IPO Witnesses Overwhelming Response, Subscribed 3.07 Times On Last Day
The initial public offering (IPO) of Epack Prefab Technologies Ltd. has received an overwhelming response from investors, with the issue being subscribed 3.07 times on the last day. The company aims to raise over Rs 500 crore from the primary market through this book-built issue of Rs 504 crore.
About Epack Prefab Technologies Ltd.
Epack Prefab Technologies Ltd. is a leading provider of pre-engineered building solutions to several industries. The company’s product portfolio includes a range of pre-fabricated structures, such as warehouses, factories, and commercial buildings.
IPO Details
The Epack Prefab Technologies IPO is a book-built issue of Rs 504 crore, comprising a fresh issue of 1.47 crore shares worth Rs 300 crore and an offer-for-sale of one crore shares amounting to Rs 204 crore. The price band for the IPO is set between Rs 194 and Rs 204 per share.
Retail investors can participate in the IPO by bidding for a single lot size of 73 shares, leading to an investment of Rs 14,892. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,08,488. Big Non-Institutional Investors must bid for a minimum of 68 lots, requiring an investment of Rs 10,12,656.
Subscription Status
The subscription window for the Epack Prefab Technologies IPO was open from September 24 to September 26, and the allotment is expected to be finalized on September 29. Shares of Epack Prefab Technologies are expected to be listed on the BSE and NSE on October 1.
As per the subscription data, Qualified Institutional Buyers (QIBs) have subscribed to the issue 5.10 times, while Non-Institutional Investors (NIIs) have subscribed 3.68 times. Retail investors have subscribed 1.69 times to the issue.
Use of IPO Proceeds
The company plans to use the proceeds from the IPO to fund capital expenditure, clear debt, and for general corporate purposes. This is expected to help the company expand its operations and improve its financial performance.
Grey Market Premium (GMP)
According to InvestorGain, the GMP for the Epack Prefab Technologies IPO stood at Rs 2 as of 07:29 p.m. on September 26. This indicates a listing price of Rs 206 apiece at a premium of 0.98% on the upper limit of the price band.
However, it is essential to note that GMP does not represent official data and is based on speculation. Investors should not rely solely on GMP to make investment decisions.
Investor Interest
The overwhelming response to the Epack Prefab Technologies IPO is a testament to the growing interest of investors in the Indian stock market. To learn more about how to invest in IPO, investors can visit our website and explore our resources on IPO investment strategies.
Conclusion
In conclusion, the Epack Prefab Technologies IPO has received an overwhelming response from investors, with the issue being subscribed 3.07 times on the last day. The company’s plans to use the IPO proceeds to fund capital expenditure, clear debt, and for general corporate purposes are expected to help the company expand its operations and improve its financial performance.
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