Euro Pratik Sales IPO sails through on day 3 of offer; check latest GMP

Euro Pratik Sales IPO sails through on day 3 of offer; check latest GMP

The initial public offer of Euro Pratik Sales Ltd, a prominent player in the decorative wall panel industry, got fully subscribed on the third day of bidding on September 18.

The IPO received bids for 1,52,68,260 shares against 1,34,64,781 shares on offer, which implies 113% subscription, according to the exchange data.

The portion for non-institutional investors got subscribed 172%, and the Retail Individual Investors (RIIs) part received 108% subscription. The Qualified Institutional Buyers (QIBs) quota was subscribed 75%.

Euro Pratik Sales Ltd on Monday garnered Rs 135 crore from anchor investors.

Euro Pratik IPO details

The public issue is entirely an offer for sale of shares worth Rs 451.32 crore by promoters with no fresh issue component. The IPO will conclude on September 18.

The company's shares are available for subscription in the price band of Rs 235 to Rs 247 per share.

Euro Pratik has an extensive product range catering to both residential and commercial applications, which is predominantly sold under its flagship brands 'Euro Pratik' and Gloirio.

The company operates on an asset-light model - it outsources manufacturing to contract partners across South Korea, China, and the US.

Axis Capital and DAM Capital Advisors are the book-running lead managers to the issue.

The company's shares will be listed on the National Stock Exchange and BSE.

Euro Pratik GMP

According to InvestorGain, the Grey Market Potential (GMP) of Euro Pratik Sales stood at Rs 5 as of September 18, 10:55 am. The estimated listing price is expected to be Rs 252 based on the upper price band of Rs 247. The expected percentage gain per share is 2%.