Epack Prefab Technologies IPO Subscribed 3.07 Times on Last Day
Epack Prefab Technologies Ltd. IPO was subscribed 3.07 times on the last day, with the issue aiming to raise over Rs 500 crore from the primary market. The company offers pre-engineered building solutions to several industries, and the IPO is a book-built issue of Rs 504 crore.
The issue comprises 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. 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.
Price Band and Subscription Details
The price band for the IPO is set between Rs 194 and Rs 204 per share. The subscription window was open till Sept. 26, with the allotment expected to be finalized 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. Monarch Networth Capital Ltd. is the book running lead manager and KFin Technologies Ltd. is the registrar of the issue.
IPO 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
Subscription Status
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. According to InvestorGain, the GMP for the Epack Prefab Technologies IPO stood at Rs 2 as of 07:29 p.m. on Sept. 26, indicating a listing price of Rs 206 apiece at a premium of 0.98% on the upper limit of the price band.
What is Grey Market Premium (GMP)?
Grey Market Premium (GMP) is the premium at which the IPO shares are traded in the grey market before the listing. It is an unofficial market where dealers and investors trade in IPO shares before the official listing. GMP is not an official data and is based on speculation, but it gives an idea of the demand for the IPO shares in the market.
Investor Sentiment
The overwhelming response to the Epack Prefab Technologies IPO is a positive sign for the company and the Indian stock market. The issue has attracted strong interest from Institutional and Non-Institutional Investors, and the retail participation has also been significant.
However, investors should note that the IPO market is highly volatile, and the performance of the issue after listing cannot be predicted with certainty. It is essential to do thorough research and analysis before investing in any IPO.
Conclusion
The Epack Prefab Technologies IPO has seen an overwhelming response, with the issue being subscribed 3.07 times on the last day. The company’s pre-engineered building solutions have attracted strong interest from investors, and the issue is expected to be listed on the BSE and NSE on Oct. 1. Investors should keep a close eye on the company’s performance and the market trends before making any investment decisions.
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