Epack Durable Ltd IPO Timeline

Epack Durable Ltd IPO opens on 19-Jan-2024, and closes on 24-Jan-2024. The Epack Durable Ltd IPO bid date is from 19-Jan-2024 to 24-Jan-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Epack Durable Ltd IPO Opening Date 19-Jan-2024
Epack Durable Ltd IPO Closing Date 24-Jan-2024
Basis of Allotment 25-Jan-2024
Initiation of Refunds 29-Jan-2024
Credit of Shares to Demat 29-Jan-2024
Epack Durable Ltd IPO Listing Date 30-Jan-2024

Epack Durable Ltd IPO Lot Size

Epack Durable Ltd IPO lot size is 65 shares. A retail-individual investor can apply for up to 13 lots (845 shares or 194350).

Application Lots Shares Amount
Minimum 1 65 ₹14950
Maximum 13 845 ₹194350

Epack Durable Ltd IPO Details

Epack Durable Ltd IPO Date 19-Jan-2024 to 24-Jan-2024
Epack Durable Ltd IPO Face Value Shares of ₹10 per share
Epack Durable Ltd IPO Price ₹218 to ₹230 per share
Epack Durable Ltd IPO Lot Size 65
Issue Size Shares of ₹10 (aggregating up to ₹640.05 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹400 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹240.05 Cr)
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered Not more than 5584779
Retail Shares Offered Not less than 10074985
NII (HNI) Shares Offered Not less than 4317851
Company Promoters Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding capital expenditure requirements for setting up of a MFG facility in
  • 2 Funding capital expenditure requirements for setting up of a MFG facility
  • 3 Purchase of equipment for the Bhiwadi MFG Facility
  • 4 Repayment and/or prepayment in part or in full of certain outstanding loans of the company
  • 5 General corporate purposes

Company Financials

Epack Durable Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 1424.79 1521.41 32.78
03-2022 1021.43 919.67 24.17
03-2021 520.37 739.66 7.54
Amount in ₹ Crore
  • Long-standing relationships with established customers, with potential to expand its customer base.
  • Among the key manufacturers in the fast-growing room air conditioners ("RAC") and small domestic appliances ("SDA") manufacturing industries.
  • Advanced vertically integrated manufacturing operations with product portfolio aimed at capturing the full spectrum of the RAC and SDA value chain.
  • Robust product development and design optimisation capabilities.
  • Experienced Promoters supported by senior management team with proven track record of performance.
  • A significant portion of its revenue is generated from certain key customers, and the loss of one or more such customers, the deterioration of their financial condition or prospects, or a reduction in their requirement for its products could adversely affect its business, results of operations, financial condition and cash flows.
  • The company customers do not make long-term commitments to it and may cancel or change their production requirements. Such cancellations or changes may adversely affect its financial condition, cash flows and results of operations.
  • The company's business is dependent on its manufacturing facilities, and its subject to certain risks in the company manufacturing process. Any slowdown or shutdown in its manufacturing operations could have an adverse effect on its business, financial condition and results of operations.
  • If the company is unable to introduce new products and respond to changing customer requirements, including due to changing customer preferences and regulatory requirements in a timely and effective manner, the demand for its products may decline, which may have an adverse effect on its business, results of operations and financial condition.
  • The company RAC business is subject to seasonal variations and cyclicality that could result in fluctuations in its results of operations.
  • The company is subject to precise technical specifications and quality requirements. Its failure to comply with the quality standards and technical specifications prescribed by such customers may lead to loss of business from such customers and could negatively impact its reputation, which would have an adverse impact on its business prospects and results of operations.
  • Pricing pressure from customers may adversely affect its gross margin, profitability and ability to increase the company prices.
  • The company depends on third parties for the supply of raw materials and such parties could fail to meet their obligations, which may have a material adverse effect on its business, results of operations and financial condition.
  • Any reduction in or termination of tax incentives the company enjoy or change in other favorable government policies may affect its business, results of operations, cash flows and financial condition.
  • If the company fail to effectively implement its production schedules, or the company manufacturing operations suffer unanticipated or prolonged interruption, its business and results of operations may be materially and adversely affected.
  • If the products the company manufacture experience quality defects or if the manufacturing services its provide are found to be deficient, the company may lose its customers and may be subject to product liability claims or claims alleging deficiency in service, which may also cause damage to its reputation and/or adversely affect the company results of operations and financial condition.
  • The company's inability to effectively manage its growth strategy could have an adverse effect on its business, results of operations and financial condition.
  • The company is subject to environmental, health and safety regulations, which may increase its compliance costs. If the company fail to obtain, maintain or renew the licenses, permits and approvals required to operate its business, or fail to comply with applicable laws, the company business, results of operations and financial condition may be adversely affected.
  • If the company does not continue to invest in new technologies and equipment, its technologies and equipment may become obsolete and its cost of production may increase relative to the company competitors, which would have an adverse effect on its ability to compete, results of operations, financial condition and prospects.
  • The company failure to keep its technical knowledge confidential could erode the company competitive advantage.
  • The company is dependent on its Promoters, Directors and other Key Managerial Personnel and Senior Management, including other employees with technical expertise. Any loss of or its inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
  • The company face foreign exchange risks that could adversely affect its results of operations.
  • Under-utilization of its manufacturing capacities may have an adverse effect on the company business, future prospectus and future financial performance.
  • The company failure in maintaining its quality accreditations and certifications may negatively impact its brand and reputation.
  • The activities carried out at its manufacturing facilities can cause injury to people or property in certain circumstances.
  • The company engage contract labour for its manufacturing operations. In the event of non-availability of such contract labour or any adverse regulatory orders, it may have a material adverse impact on its operations.
  • The company inability to meet its obligations, including financial and other covenants under the company debt financing arrangements could adversely affect its business and results of operations.
  • The company manufacturing facilities and Registered and Corporate Office are located on premises taken on a leave and license basis. There can be no assurance that these leave and license agreements will be renewed upon termination or that the company will be able to obtain other premises on leave and license basis on same or similar commercial terms or at all.
  • The company has significant planned capital expenditure, and such expenditure may not yield the benefits its anticipate.
  • The company Statutory Auditors have included a qualification in the auditor's report on its audited standalone financial statements and audited consolidated financial statements for the Fiscal ended March 31, 2022.
  • The company Statutory Auditors and previous statutory auditors have included certain emphasis of matters and certain observations in their auditor's report on its audited standalone financial statements for Fiscals ended March 31, 2023 and March 31, 2021, and on its audited consolidated financial statements for Fiscal ended March 31, 2023, and the annexure to the auditor's reports as required under the Companies (Auditor's Report) Order, 2020, in respect of the Company and its Material Subsidiary.
  • The company has working capital requirements and may require additional financing to meet those requirements, which could have an adverse effect on its business, results of operations and financial condition.
  • Its industry is competitive and the company's inability to compete effectively may adversely affect its business, results of operations, financial condition and cash flows.
  • The COVID-19 pandemic impacted its business and operations and any similar occurrence in the future may have a similar adverse effect on the company business, operations and its future financial performance.
  • The company may undertake joint ventures or such other strategic alliances which may be difficult to integrate and manage. Further, its partners may not perform their obligations satisfactorily and their interests may differ from ours, which could have a material adverse effect on its business and results of operations.
  • The company intend to utilise a portion of the Net Proceeds for funding its capital expenditure requirements for setting up of and expansion of the company manufacturing facilities and if the costs of setting up and the possible time or cost overruns related to these projects are higher than expected, it could have a material adverse effect on its financial condition, results of operations and growth prospects. Further, any variation in the utilisation of our Net Proceeds may be subject to certain compliance requirements, including prior shareholders' approval.
  • The company insurance policies may not be adequate to cover all losses incurred in its business. An inability to maintain adequate insurance cover to protect it from material adverse incidents in connection with its business may adversely affect the company operations and profitability.
  • Any inability to protect its intellectual property or any claims that we infringe on the intellectual property rights of others could have a material adverse effect on it.
  • The company has been given permission to use the trademarks 'EPACK' and', which are owned by EPACK Polymers Private Limited, one of its Group Companies and a member of the company Promoter Group,and are exposed to the risk that its use of these trademarks may be affected by events beyond the company control and that EPACK Polymers Private Limited may prevent it from using them in the future.
  • The company operates separate business verticals and its inability to manage the company diversified operations may have an adverse effect on its business, results of operations and financial condition.
  • The company has substantial power, water and fuel requirements and any disruption to power, water or fuel sources could increase its production costs and adversely affect its results of operations.
  • The company has certain contingent liabilities which, if materialized, may adversely affect its financial condition.
  • The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • Certain sections of this Draft Red Herring Prospectus disclose information from the industry report which has been commissioned and paid for by it exclusively in connection with the Offer and any reliance on such information for making an investment decision in the Offer is subject to inherent risk.
  • There are outstanding legal proceedings against the Company, its Directors, the company Promoters and its Subsidiary and adverse outcomes in such proceedings may negatively affect its business, results of operations and financial condition.
  • Information relating to the installed manufacturing capacity and capacity utilization of its manufacturing facilities included in this Draft Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.
  • The company funding requirements and proposed deployment of the Net Proceeds are based on management estimates and have not been independently appraised by a bank or a financial institution, and may be subject to change based on various factors, some of which are beyond its control. Further, any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
  • The company Promoters and certain Directors hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their normal remuneration and reimbursement of expenses.
  • Failures in internal control systems could cause operational errors which may have an adverse impact on its profitability.
  • Employee misconduct could harm it and is difficult to detect and deter.
  • Any defaults or delays in payment by a significant portion of its customers, may have an adverse effect on cash flows, results of operations and financial condition.
  • The company has issued specified securities during the last 12 months at a price that may be lower than the Offer Price.
  • The company Promoters have provided personal guarantees for loan facilities availed by the Company and certain members of the Promoter Group who are also its Group Companies, and may provide additional guarantees in the future. Any failure or default in repaying such loans could trigger repayment obligations on its Promoter, which may also impact the company Promoters' ability to effectively service their obligations as its Promoters and thereby, adversely impact the company business and operations.
  • A downgrade in its credit rating could adversely affect the company ability to raise capital in the future.
  • The company Promoters and some of its Directors may have interest in entities, which are in businesses similar to its and this may result in conflict of interest with it.
  • Reliance has been placed on declarations, affidavits, and marksheets furnished by some of the company Directors, Key Managerial Personnel, and Senior Management, for disclosures related to their educational qualifications included in this Draft Red Herring Prospectus.
  • The Company has availed an unsecured loan which is repayable on demand. Any demand from lenders for repayment of such unsecured loans may adversely affect its business, cash flows, financial condition and results of operations.
  • The company's ability to pay dividends in the future will depend on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of its financing arrangements.
  • The company has sustained negative cash flows from operating activities in the past and may experience earnings declines or operating losses or negative cash flows from operating activities in the future.
  • The Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will receive the proceeds from the Offer for Sale.
  • Expanding its existing product portfolio, including our RAC and SDA components product portfolio.
  • Continue to drive operational efficiencies through expansion of its integrated manufacturing capabilities and continued investment in its R&D infrastructure.
  • Increase wallet share with existing customers and continued focus to expand its customer base.
  • Further explore initiatives to strengthen control over its supply chain.

Epack Durable Ltd IPO Promoter Holding

Pre Issue Share Holding 42.90%
Post Issue Share Holding 31.63%

Epack Durable Ltd IPO Subscription Status (Bidding Detail)

The Epack Durable Ltd IPO is subscribed 16.37 times on Jan 24, 2024 05:00:00 PM. The public issue subscribed 6.29 times in the retail category, 25.5 times in the QIB category, and 28.1 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) 25.5 28.1 6.29 - 16.37

Epack Durable Ltd IPO Prospectus

Epack Durable Ltd IPO Listing Date

Listing Date 30 Jan 24
BSE Script 544095
NSE Symbol EPACK
Listing In BSE, NSE
ISIN INE0G5901015
IPO Price ₹230
Face Value ₹10

Epack Durable Ltd IPO Registrar

KFin Techologies Ltd

Phone: + 91 40 6716 2222
Email: epack.ipo@kfintech.com
Website: www.kfintech.com

Epack Durable Ltd IPO Lead Manager(s)

  1. Axis Capital Ltd
  2. Dam Capital Advisors Ltd
  3. ICICI Securities Ltd

FAQs on Epack Durable Ltd IPO

Epack Durable Ltd IPO, which opens for subscription from 19-Jan-2024 to 24-Jan-2024 has an issue size of ₹640.05 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Epack Durable Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Epack Durable Ltd IPO Opens for subscription from 19-Jan-2024 to 24-Jan-2024.

The lot size of Epack Durable Ltd is 65 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14950 and ₹194350 respectively.

Allotment date for Epack Durable Ltd is 25-Jan-2024 and refund of application amount (in case allotment is not received) will begin from 29-Jan-2024. If your allotment goes through, then shares will be credited in your Demat account by 29-Jan-2024.

The registrar for Epack Durable Ltd IPO is KFin Techologies Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Epack Durable Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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