Euro Pratik Sales IPO: The initial public offer (IPO) of Euro Pratik Sales opened on September 16 and will close for subscription today, September 18.
The ₹451.31 crore IPO, had fixed a price band in the range of ₹235-247.
Euro Pratik Sales IPO Subscription
As of end of Day 2, Euro Pratik Sales IPO was booked 0.75 times, as the issue received bids for 95.56 lakh shares as against 1.28 crore shares on offer.
The retail portion of the Euro Pratik Sales IPO was booked 0.76 times, the non-institutional investor (NII) part was subscribed 1.30 times, while the bidding for the qualified institutional buyer (QIB) segment was 0.28 times.
Euro Pratik Sales IPO GMP
Euro Pratik Sales IPO is seeing a modest premium in the grey market. The IPO’s GMP stands at ₹5, indicating that shares are trading slightly above the issue price. Based on the current premium, the stock could list at around ₹252, which is just 2.02 percent higher than the upper end of the price band fixed at ₹247.
About Euro Pratik Sales IPO
Euro Pratik Sales IPO is a pure offer for sale of 1.83 crore shares worth ₹451.31 crore, with no fresh issue component. Retail investors can apply in lots of 60 shares, requiring a minimum investment of ₹14,820 at the upper end of the price band. Since it is an OFS, the company will not receive any proceeds from the issue.
The IPO allotment is likely to be finalised on September 19, while listing is scheduled for September 23 on both NSE and BSE. Axis Capital Ltd is acting as the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar.
Founded in 2010, Euro Pratik Sales Limited operates in the decorative wall panel and laminates space as a seller and marketer of premium products. Known for innovative designs such as Louvres, Chisel, and Auris, the company has built a diverse product portfolio over the past seven years, catering to both residential and commercial markets.
Euro Pratik Sales IPO: Apply or not?
Assigning a subscribe rating, HEM Securities said, ” The company is bringing the issue at a price band of ₹235-247 per share at a p/e multiple of approximately. 39x on post issue FY25 basis. The company is one of India’s leading and largest organised wall panel brands in the organised Decorative Wall Panel industry. The Company has a comprehensive product portfolio across various categories & is staying ahead of market trends with its merchandising capabilities and a key focus on product novelty and new designs. The company has an asset-light business model with global long-term partnerships & a pan-India presence with a well-established distribution network, experienced Promoters and management team, and a proven track record of robust financial performance and low leverage levels. Hence, we recommend “Subscribe” to the issue.”
Meanwhile, Ventura Securities also had a subscribe rating for the issue.
“Euro Pratik Sales Limited is a leading brand in India’s decorative wall panels and laminates industry, with a market share of 15.87% by revenue in the organized segment. As of FY2023, the company’s total revenue from decorative wall panels reached ₹1,742.89 million. Euro Pratik Sales Limited is committed to sustainable growth, driven by strategic acquisitions and an expanding product portfolio in the decorative panels industry. Its diversified approach, both in terms of product offerings and market reach, ensures a resilient business model capable of navigating industry shifts,” it said.
