Epack Durable shares debut at a nearly 4% discount to the IPO price

The shares of Epack Durable Ltd. are listed on the NSE at Rs 221 per piece, a discount of 3.91% to the IPO price of Rs 230 per piece.

The stock was first quoted at Rs 225 on the Bombay Stock Exchange, a discount of 2.17%.

The IPO worth ₹640.05 crore was subscribed 16.37 times in the last day. The bids were led by non-institutional investors (28.10x), retail investors (6.29x) and institutional investors (25.50x).

The IPO is a mix of a fresh issue and an offer for sale, with the price band set at Rs 218-230 per piece. In the first category, the company will issue fresh equity capital worth Rs 400 crore.

The OFS will ensure promoters, promoter groups and other stakeholders offload 1.04 crore shares. Promoters Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania and Ajay Singhania together plan to sell 33.4 lakh shares in this leg of the IPO. India Advantage Fund S4 I and Dynamic India Fund S4 US1 will also sell shares under the OFS.

Epack Durable raised Rs 192 crore from anchor investors before the issue opened. The company has allotted 83.48 lakh shares to 18 funds at a maximum price of Rs 230 apiece.

Participating in the anchor portion were Societe Generale, Copthall Mauritius Investment Ltd., Integrated Core Strategies Pte, SBI Life Insurance Co., HDFC Life Insurance Co., Bajaj Allianz Life Insurance Co., Aditya Birla Sun Life Insurance Co. and HDFC Mutual Fund.