Epack Prefab Technologies, the pre-engineered steel buildings and pre-fabricated structures solutions provider, has raised Rs 151.2 crore from 10 anchor investors ahead of its IPO, on September 23.
Whiteoak Capital was the largest investor in the company, which acquiring 29.41 lakh shares through its six schemes for Rs 60 crore.
Other marquee names like Morgan Stanley, 360 ONE, LC Pharos Multi Strategy Fund, Nuvama, Citigroup Global, and Sameeksha India also participated in the anchor book.
"...has finalised allocation of 74,11,764 equity shares to anchor investors at Rs 204 per share," the Epack group company in its filing to exchanges said.
"Out of total allocation to anchor investors, 28,43,204 equity shares were allocated to 2 domestic mutual funds which have applied through their six schemes," it added.
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Epack Prefab Technologies is raising Rs 504 crore through its initial public offering (IPO) which consists of fresh issuance of shares worth Rs 300 crore, and an offer-for-sale of 1 crore shares worth Rs 204 crore.
The price band for the issue, which will open for public subscription during September 24-26, has been fixed at Rs 194-204 per share.
The company will utilise nearly Rs 103 crore of fresh issue proceeds for setting up new manufacturing facility in Alwar, Rajasthan for manufacturing of continuous sandwich insulated panels and pre- engineered steel building, and Rs 58.17 crore for expansion of existing manufacturing facility at Mambattu (Unit 4) in Andhra Pradesh for increasing the pre-engineered steel building capacity.
Further, Rs 70 crore will be used for debt reduction, and the remaining amount for general corporate purposes.
Incorporated in 1999, Epack Prefab Technologies operates into two business verticals - pre-fab, and EPS packaging businesses. Under the pre-fab business, it provides pre-engineered steel buildings, pre-fabricated structures and its components, while under the EPS packaging, it manufactures expanded polystyrene sheets and blocks for various industries such as construction, packaging, and consumer goods.
Monarch Networth Capital, and Motilal Oswal Investment Advisors are acting as the merchant bankers for the Epack Prefab Technologies IPO.
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