EPW India Gears Up for IPO with Fresh Capital Influx

EPW India, an IT electronics refurbishing company, announced raising Rs 9.04 crore from anchor investors, ahead of its IPO slated from December 22-24. The IPO aims to raise up to Rs 31.8 crore to support working capital, debt repayment, and corporate growth. Shares will list on the NSE Emerge platform.

EPW India, an IT electronics refurbishing company, announced on Saturday that it has secured Rs 9.04 crore from anchor investors. This move comes in anticipation of its upcoming initial public offering (IPO) for public subscription.

The company allocated over 9.32 lakh equity shares to anchor investors including Resonance Opportunities Fund, Universal Golden Fund, and Getfive Opportunity Fund - I, at an anchor investor price of Rs 97 per share, totaling Rs 9.04 crore.

The public can subscribe to the Rs 31.8 crore IPO from December 22 to December 24, with a set price band of Rs 95-97 per share. This fresh issue, which comprises up to 32.79 lakh equity shares, aims to generate funds primarily to cover working capital needs, debt repayment, and other corporate purposes.

(With inputs from agencies.)