Epack Prefab Tech IPO receives 59 pc subscription

New Delhi, Sep 25 (PTI) The initial public offer of Epack Prefab Technologies Ltd fetched 59 per cent subscription on the second day of share sale on Thursday.

The three-day initial share sale received bids for 1,04,69,879 shares against 1,76,70,103 shares on offer, as per NSE data.

The component for Retail Individual Investors received 72 per cent subscription while the quota for non-institutional investors got subscribed 46 per cent. The category for Qualified Institutional Buyers (QIBs) received 46 per cent subscription.

EPack Prefab Technologies on Tuesday said it has raised Rs 151.2 crore from anchor investors.

The Rs 504-crore initial public offering (IPO) will conclude on Friday. The Greater Noida-based company has fixed a price band of Rs 194 to Rs 204 per share for its IPO.

The company's IPO has a fresh issue of shares worth Rs 300 crore and an offer for sale (OFS) of 1 crore shares by promoters valued Rs 204 crore at the upper end.

Proceeds from the fresh issue to the extent of Rs 101.62 crore will be used for setting up a new manufacturing facility at Ghiloth Industrial Area at Alwar in Rajasthan; Rs 58.10 crore for expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh for increasing the pre-engineered steel building capacity; Rs 70 crore for payment of debt and a portion will be used for general corporate purposes.

Incorporated in 1999, EPack Prefab Technologies provides Pre-Engineered Building (PEB) solutions, covering design, fabrication, and installation for industries across commercial, industrial, and institutional sectors.

The company operates three manufacturing facilities in Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh) as of December 2024. It also operates three design centres located in Noida (Uttar Pradesh), Hyderabad (Telangana), and Visakhapatnam (Andhra Pradesh).

Monarch Networth Capital and Motilal Oswal Investment Advisors are the book running lead managers, while KFin Technologies is the registrar to the issue.

Shares of EPack Prefab Technologies are expected to list on the stock exchanges on October 1. PTI SUM SUM MR