EPack Prefab Tech IPO gets subscribed 59% on Day 2; check latest GMP

EPack Prefab Tech IPO gets subscribed 59% on Day 2; check latest GMP

The initial public offer of EPack Prefab Technologies got subscribed 40% so far on the second day of bidding on September 25.

The IPO received bids for 1,04,69,879 shares against 1,76,70,103 shares on offer, as per NSE data.

The category for Qualified Institutional Buyers (QIBs) got 46% subscription and non-institutional investor portion also received 46% subscription. Retail Individual Investors (RIIs) quota got subscribed 72%.

On September 23, Epack Prefab Technologies raises Rs 151.2 crore through anchor investors.

EPack Prefab Tech IPO details

The Rs 504-crore IPO will conclude on September 26. The Greater Noida-based company has fixed a price band of Rs 194 to Rs 204 per share for its maiden public offering.

The IPO comprises fresh issues of shares worth Rs 300 crore and an Offer For Sale (OFS) of 1 crore shares by promoters valued Rs 204 crore at the upper end.

Proceeds from the fresh issue to the extent of Rs 101.62 crore will be used for setting up a new manufacturing facility at Ghiloth Industrial Area at Alwar in Rajasthan; Rs 58.10 crore for expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh for increasing the pre-engineered steel building capacity; Rs 70 crore for payment of debt and a portion will be used for general corporate purposes.

Incorporated in 1999, EPack Prefab Technologies provides Pre-Engineered Building (PEB) solutions, covering design, fabrication, and installation for industries across commercial, industrial, and institutional sectors.

The company operates three manufacturing facilities in Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh) as of December 2024. It also operates three design centres located in Noida (Uttar Pradesh), Hyderabad (Telangana), and Visakhapatnam (Andhra Pradesh).

In terms of issue allocation, 50% of the IPO is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.

Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers, while KFin Technologies is the registrar to the issue.

Shares of EPack Prefab Technologies are expected to list on the stock exchanges on October 1.

EPack Prefab Tech GMP

According to InvestorGain, the Grey Market Potential (GMP) of EPack Prefab Tech stood at Rs 15 as of September 25, 5 pm The estimated listing price is expected to be Rs 219 based on the upper price band of Rs 204. The expected percentage gain per share is 7.3%.