Epack Durable IPO will open for subscription on January 19; check details
IPO) of Epack Durable will open for subscription on January 19 and will be available for the public to bid till January 23.
The IPO comprises a fresh equity issue of up to Rs 400 crore and an offer for sale (OFS) of up to 10,437,047 shares by selling shareholders.
Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, Ajay DD Singhania, Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra are the promoter and group entities selling part of their stake in the company.
Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, and Ajay DD Singhania, collectively hold 42.90% in the company.
India Advantage Fund and Dynamic India Fund, the two funds managed by ICICI Ventures, will also sell stake in the company.
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Uttar Pradesh-based Epack Durable is the second largest original design manufacturer (ODM) in the Indian room air conditioner manufacturing market and had a market share of 29% in terms of volume in fiscal 2023.
The company also manufactures components such as sheet metal parts, injection moulded parts, cross-flow fans, and PCBA components that are actively used in the production of RACs. The company has expanded its business into the small domestic appliance (SDA) market, particularly given the seasonal demand for RACs, and is currently developing and producing induction hobs, blenders, and water dispensers.
The company plans to use the fresh proceeds
