Euro Pratik Sales IPO sails through on final day of bidding

New Delhi, Sep 18 (PTI) The initial public offer of Euro Pratik Sales Ltd, a prominent player in the decorative wall panel industry, received 1.34 times subscription on the closing day of bidding on Thursday.

The three-day IPO got bids for 1,79,78,280 shares against 1,34,64,781 shares on offer, according to details available with the NSE.

The quota meant for non-institutional investors got subscribed 1.92 times while the portion for Retail Individual Investors (RIIs) received 1.23 times subscription. Qualified Institutional Buyers (QIBs) category got subscribed 1.05 times.

Euro Pratik Sales Ltd on Monday garnered Rs 135 crore from anchor investors.

The public issue is entirely an offer-for-sale of shares worth Rs 451.32 crore by promoters with no fresh issue component.

The price band for the offer is Rs 235 to Rs 247 per share.

Euro Pratik has an extensive product range catering to both residential and commercial applications, which is predominantly sold under its flagship brands 'Euro Pratik' and Gloirio.

The company operates on an asset-light model - it outsources manufacturing to contract partners across South Korea, China, and the US.

Axis Capital and DAM Capital Advisors are the book-running lead managers to the issue.

The company's shares will be listed on the NSE and BSE. PTI SUM SUM MR