Epack Durable IPO | Institutional investors pick Rs 192 crore shares via anchor book

Epack Durable IPO opens on January 19

Uttar Pradesh-based Epack Durable has mobilised Rs 192.02 crore from institutional investors through its anchor book on January 18, a day before the IPO opening.

Optimix Wholesale Global Emerging Markets Share Trust, Integrated Core Strategies (Asia), Societe Generale Copthall Mauritius Investment, and HDFC Mutual Fund were some of the marquee names invested in the company via anchor book.

Insurance companies including SBI Life Insurance Company, HDFC Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, SBI General Insurance Company, Reliance General Insurance Company, and Universal Sompo General Insurance Company also showed good interest in the company, investing Rs 116 crore.

Epack Durable in consultation with merchant bankers has finalised allocation of 83,48,504 equity shares to anchor investors for Rs 230 per share, said the second largest original design manufacturer of room air conditioners in India in a filing to the exchanges.

Also read: Epack Durable IPO: 10 things to know before subscribing to Rs 640-crore issue

HDFC Mutual Fund through its four schemes bought more than Rs 36 crore worth of shares in Epack Durable IPO.

The Epack Durable IPO will be opening for subscription on January 19, with a price band of Rs 218-230 per share.

The last day for bidding on the issue will be January 23.

Epack intends to raise Rs 640.05 crore through its maiden public issue which is a mix of a fresh issue of Rs 400 crore and an offer-for-sale (OFS) of 1.04 crore equity shares.

Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, Ajay DD Singhania, Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra, part of the promoters and promoter group, will be offloading 51.75 lakh shares worth Rs 119 crore in the OFS, at the upper price band.

Also read: KRN Heat Exchanger and Refrigeration files papers for IPO

Further, India Advantage Fund S4 I and Dynamic India Fund S4 US I will be selling 52.62 lakh shares worth Rs 121 crore via OFS.