EPack Prefab IPO Soars with 3.07x Subscription on Final Day

EPack Prefab Technologies' IPO achieved a 3.07 times subscription, with strong demand from qualified institutional buyers and non-institutional investors. The IPO includes a fresh issue and offer for sale, with proceeds funding various projects. The company offers Pre-Engineered Building solutions and operates multiple manufacturing facilities.

EPack Prefab Technologies Ltd's initial share sale concluded on a high note, attaining 3.07 times subscription by the final day of bidding on Friday. This robust demand saw 5,42,98,933 shares bid against 1,76,70,103 shares available, showcasing substantial investor interest.

Qualified institutional buyers led the charge with a 5.10 times subscription, while non-institutional investors showed their enthusiasm with 3.68 times subscription. Retail Individual Investors also participated actively, reaching 1.69 times subscription. Earlier, EPack Prefab raised Rs 151.2 crore from anchor investors before setting a price band of Rs 194 to Rs 204 per share.

The IPO involves fresh shares worth Rs 300 crore and 1 crore shares offering for sale by promoters, valued at Rs 204 crore. Proceeds will partially fund a new manufacturing facility in Rajasthan, expand existing capacity in Andhra Pradesh, and pay down debt. Shares are anticipated to list on October 1.

(With inputs from agencies.)