Epack Prefab IPO Day 3 LIVE: The initial public offering of Epack Prefab Technologies Ltd attracted a 59% subscription rate by the second day of the share sale on Thursday. The segment for Retail Individual Investors achieved a 72% subscription level, while the portion allocated for non-institutional investors was 46% subscribed. The category designated for Qualified Institutional Buyers (QIBs) also received a 46% subscription.
The ₹504-crore Epack Prefab IPO opened for subscription on Wednesday, September 24, and closes on Friday, September 26. The Greater Noida-based company has fixed Epack Prefab IPO price band of ₹194 to ₹204 apiece.
Epack Prefab IPO includes a fresh share issuance valued at ₹300 crore, along with an offer for sale (OFS) of 1 crore shares by promoters, estimated at ₹204 crore at the highest price point.
The funds raised from the fresh issue, amounting to ₹101.62 crore, will be utilized to establish a new manufacturing facility in the Ghiloth Industrial Area of Alwar, Rajasthan; ₹58.10 crore will be allocated for expanding the existing manufacturing site in Mambattu, Andhra Pradesh, to enhance the capacity for pre-engineered steel buildings; ₹70 crore will go towards debt repayment, and part of the funds will be used for general corporate needs.
Founded in 1999, EPack Prefab Technologies offers Pre-Engineered Building (PEB) solutions that encompass design, fabrication, and installation services for various sectors, including commercial, industrial, and institutional.
(Stay tuned for more updates)
