EPACK Durable makes muted market debut; shares list at 4% discount

New Delhi: Shares of EPACK Durable Ltd on Tuesday were listed with a discount of nearly 4 per cent against the issue price of Rs 230.

EPACK Durable manufactures room air conditioners and small household appliances.

The stock of the company started the trade at Rs 225, lower by 2.17 per cent from the issue price on the BSE. It further fell by 8.15 per cent to Rs 211.25.

At the NSE, it declined 3.91 per cent to Rs 221 in opening deals.

The company's market valuation stood at Rs 2,086.97 crore.

The initial share sale of EPACK Durable was subscribed 16.37 times on the final day of subscription on January 24.

The Initial Public Offering (IPO) had a fresh issue of Rs 400 crore and an Offer-for-Sale (OFS) of up to 1,04,37,047 equity shares. The price band was fixed at Rs 218-230 a share.

Founded in 2002, the company has integrated manufacturing facilities in Dehradun (Uttarakhand) and Bhiwadi (Rajasthan).

It manufactures room air conditioners, components, and small household appliances for leading Indian and MNC brands in India as an Original Design Manufacturer (ODM).