EPACK Durable IPO will open for subscription from 19 January 2024. The company aims for an issue size of ₹640.05 Cr through this IPO.

Company Overview

Full nameEPACK Durable Limited
SectorConsumer Durables
IndustryAir Conditioners
Company Websitehttps://epackdurable.com/

About Company

EPACK Durable is the second-largest original design manufacturer (ODM) in the Indian room air conditioner manufacturing market, holding a substantial 29% market share in terms of volume produced during Fiscal 2023. Noteworthy is its rapid growth, making it the fastest-growing ODM in terms of volume manufactured between Fiscals 2020 and 2023. The company not only manufactures components crucial for Room Air Conditioners (RACs) but has also expanded into the small domestic appliance (SDA) market. Currently, it’s focused on developing and producing induction hobs, blenders, and water dispensers to meet the seasonal demand for RACs.

The company operates four production facilities in Dehradun, known as Dehradun Unit I, Dehradun Unit II, Dehradun Unit III, and Dehradun Unit IV. Additionally, there is a manufacturing facility in Bhiwadi, Rajasthan. As of 31 March 2023, the annual production capacity includes (i) 0.90 million IDUs, 0.66 million ODUs, 0.36 million ODU kits, and 0.42 million WACs, as well as (ii) 0.11 million water dispensers, 1.2 million induction hobs, and 0.30 million mixer grinders and their components. Furthermore, the company is in the process of establishing a third facility in Sri City, Andhra Pradesh.

In the six months ended 30 September 2023, FY 2023, 2022, and 2021, the top five customers of EPACK Durable collectively contributed INR 489.49 crore, INR 1,272.03 crore, INR 709.99 crore, and INR 524.36 crore to the revenue from operations. This constituted 79.62%, 82.66%, 76.82%, and 71.22% of the total revenue, respectively. The company has a dedicated R&D team comprising 57 full-time employees, as of 30 September 2023, which grew from 30 as of 31 March 2021.

The Objectives of the Issue

  • Funding capital expenditure for the expansion/setting up of manufacturing facilities;
  • Repayment and/or prepayment, in part or in full, of certain outstanding loans of the company;
  • General corporate purposes.

EPACK Durable IPO Timetable

IPO Opening date19 January 2024
IPO Closing24 January 2024
Basis of Allotment25 January 2024
Initiation Refund29 January 2024
Credit to Demat Account29 January 2024
Listing Date30 January 2024
(Cut-off time for UPI mandate confirmation – 5 PM on January 24, 2024)

EPACK Durable IPO details

Issue typeBook Built Issue IPO
IPO issue size₹640.05 Cr – 27,828,351 shares
Fresh Issue₹400 Cr – 17,391,304 shares
Offer for sale₹240.05 Cr – 10,437,047 shares
Face value₹10 per share
Price Band ₹218 to ₹230 per share
Lot size65 Shares
Shareholding pre-issue78,407,387
Shareholding post-issue95,798,691
Listing ExchangeBSE & NSE

EPACK Durable IPO Lot Size

Retail (Min)165₹14,950
Retail (Max)13845₹194,350
S-HNI (Min)14910₹209,300
S-HNI (Max)664,290₹986,700
B-HNI (Min)674,355₹1,001,650

EPACK Durable IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

EPACK Durable Financial Performance

 FY 2021FY 2022FY 2023H1 FY 2024
Net income7.8017.4331.972.65
Margin (%)1.061.892.080.43
(Amount in ₹ Crores)

EPACK Durable Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio46.98 – 49.57
RONW (%)12.0018.2814.68
ROCE (%)11.7213.6811.85
EBITDA (%)5.717.446.66

Company Promoters

  • Bajrang Bothra
  • Laxmi Pat Bothra
  • Sanjay Singhania
  • Ajay DD Singhania

Promoter Holding

Pre Issue Share Holding85.49%
Post Issue Share Holding65.36%

EPACK Durable Lead Manager(s)

  • Axis Capital Limited
  • DAM Capital Advisors Ltd (Formerly Idfc Securities Ltd)
  • ICICI Securities Limited

EPACK Durable Registrar

Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: 91 40 6716 2222 / 1800 3094001
E-mail: epack.ipo@kfintech.com
Website: www.kfintech.com

EPACK Durable Contact Details

61-B, Udyog Vihar, Surajpur, Kasna Road, Greater Noida,
Gautam Buddha Nagar 201 306, Uttar Pradesh, India
Phone: +91 120 256 9077
Email: investors_ed@epack.in
Website: www.epackdurable.com

EPACK Durable IPO Allotment Status

EPACK Durable IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.

Final thoughts

EPACK Durable IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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