Epack Prefab Technologies IPO Subscribed Over Three Times On Last Day
Epack Prefab Technologies Ltd. IPO was subscribed 3.07 times on the last day, with the offer aiming to raise over Rs 500 crore from the primary market. The company, which offers pre-engineered building solutions to several industries, has received an overwhelming response from investors.
About the IPO
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 Details
The subscription window was open till Sept. 26, with the allotment expected to be finalised on Sept. 29. Shares of Epack Prefab Technologies are expected to be listed on the BSE and NSE on Oct. 1.
Qualified Institutional Buyers will be offered a maximum of 50% of the net issue. Retail investors will be allocated at least 35% of the net issue and a minimum of 15% will be reserved for Non-Institutional Investors.
Key Dates and Details
- Open date: Sept. 24
- Close date: Sept. 26
- Price Band: Rs 194-204 per share
- Allotment date: Sept. 29
- Listing date: Oct. 1
- IPO size: Rs 504 crore
- Fresh issue: Rs 300 crore
- OFS: Rs 204 crore
- Minimum bid: Lot size of 73 shares
Investor Response
The Epack Prefab IPO was subscribed 3.07 times on Friday, with Institutional investors subscribing 5.10 times, Non-Institutional investors subscribing 3.68 times, and Retail investors subscribing 1.69 times.
The company will use proceeds from the IPO to fund capital expenditure, clear debt and for general corporate purposes.
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 Sept. 26. It indicates a listing price of Rs 206 apiece at a premium of 0.98% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation. For more information on IPO news and stock market updates, visit our website.
Conclusion
The Epack Prefab Technologies IPO has received an overwhelming response from investors, with the issue being subscribed over three times on the last day. The company’s plans to use the proceeds from the IPO to fund capital expenditure, clear debt and for general corporate purposes are expected to drive growth and expansion in the coming years.
For investors looking to participate in the IPO, it is essential to do their research and understand the process of investing in an IPO. With the right knowledge and strategy, investors can make informed decisions and potentially benefit from the growth of the company.