EPACK Durable IPO: Firm mobilises ₹192 crore from marquee investors in anchor round ahead of issue

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EPACK Durable IPO: EPACK Durable has raised ₹192 crore from from marquee investors in anchor round on Thursday, January 18, ahead of its IPO subscription opening for bidding. EPACK Durable IPO opens for subscription on January 19, 2024 and closes on January 23, 2024. The EPACK Durable IPO price band is set at ₹218 to ₹230 per equity share of the face value of ₹10 each.

The private air conditioner (AC) manufacturer said in a statement that it has raised ₹192.01 crore by allocating 83.48 lakh equity shares at the upper end of the price band of ₹230. Out of the total allocation of 83.48 lakh equity shares to the anchor investors, 15.65 lakh equity shares, which is 18.75 per cent of the total allocation to the investors, were allocated to a domestic mutual fund, which applied through a total of four schemes, stated EPACK Durable. The marque investors included Society Generale, Copthall, Universal Sompo, Reliance General Insurance, SBI General Insurance, HDFC Life Insurance, SBI Life Insurance, Aditya Birla Sun Life Insurance among others.

Also Read: EPACK Durable IPO to open on January 19: From price band to key dates - here are top 10 things to know EPACK Durable IPO is a book built issue of ₹640.05 crore. The issue is a combination of fresh issue of 1.74 crore shares aggregating to ₹400 crore and offer for sale (OFS) of 1.04 crore shares aggregating to ₹240.05 crore. In the OFS, 51.75 lakh shares valued at ₹119 crore, belonging to the promoter group, will be sold by them.

The EPACK Durable IPO lot size is 65 equity shares and in multiples of 65 equity shares thereafter. The floor price is 21.8 times the face value of the equity shares, and the cap price is 23.0 times the face value of the equity shares. EPACK Durable IPO