Epack Durable's IPO opens on January 19th
The public edition of Epack Durable opens for subscription on January 19th and ends on January 23rd. The anchor book will open for one day on January 18th. This will be the third public offering of calendar year 2024 after Jyoti CNC Automation and Medi Assist Healthcare Services launched its IPOs earlier this month.
According to the offer document filed with capital market regulator SEBI, the lot size is 65 shares and multiples thereof. This means that the minimum application amount for retail investors is ₹14,950 for 1 property or 65 shares.
The company has reserved half of the issue for qualified institutional buyers (QIBs), up to 15% for non-institutional investors (NIIs) and the remaining 35% for retail investors.
The company, whose customers include Blue Star, Daikin Airconditioning India, Voltas, Havells India, Haier Appliances (India) and Bajaj Electricals, intends to use the capital raised through the issue of new shares to expand its production facilities, repay debts, etc fulfill general corporate purposes. Of the ₹400 crore of fresh capital, ₹230 crore will be used for expansion of manufacturing facilities, ₹80 crore will be used for debt repayment and the rest for general corporate purposes.
For the financial year ended March 31, 2023, Epack Durable reported net profit growth of 83.4% year-on-year to ₹32 crore, while revenue from operations grew 66.5% year-on-year to ₹1,539 crore rose. EBITDA (earnings before interest, taxes, depreciation and amortization) stood at ₹102.5 crore in FY23, an increase of 49% over the previous fiscal. However, the margin fell 78 basis points to 6.66% due to higher input costs.
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