The Rs 640-crore Epack Durable IPO will close on January 23.
The Rs 640 crore-IPO of Epack Durable was subscribed 46 percent by the afternoon of January 19, the first day of bidding, as investors bought 91.19 lakh equity shares against the offer size of 1.99 crore.
Retail investors sent in bids for 78 percent of the shares set aside for them. Non-institutional investors (high networth individuals) picked 29 percent of their allotted quota, while qualified institutional buyers bought 0.08 percent of their portion of shares.
The IPO of India’s second-largest original design manufacturer of room air conditioners is a fresh issue of shares worth Rs 400 crore, and an offer-for-sale (OFS) of 1.04 crore shares, worth Rs 240.05 crore, by the existing shareholders.
Also read: EPACK Durable’s Rs 640-crore IPO opens today: Should you subscribe to the issue?
Promotors Bothra and Singhania family will be selling 51.75 lakh shares worth Rs 119 crore. The remaining 52.62 lakh shares, worth Rs 121 crore, are being sold by India Advantage Fund S4 I and Dynamic India Fund S4 US I.
The price band for the issue, which closes on January 23, has been fixed at Rs 218-230 per share.
The Uttar Pradesh-based company has already raised Rs 192.02 crore through its anchor book launched for a day on January 18, a day before the issue opening.
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Institutional investors including Societe Generale, Copthall Mauritius Investment, HDFC Mutual Fund, Integrated Core Strategies (Asia), SBI Life Insurance Company, HDFC Life Insurance Company and Aditya Birla Sun Life Insurance Company made investment in the company through the anchor book.
Epack Durable shares were available in the grey market at around 10-15 percent premium to the upper price band, analysts said on condition of anonymity. The grey market is an unofficial platform where shares trade till the listing. It is typically tracked to get an idea of the listing price,
Also read: Epack Durable’s journey in 5 charts