Euro Pratik Sales sets IPO price band at Rs 235-247 per share

Euro Pratik Sales IPO

Euro Pratik Sales, the seller and marketer of decorative wall panel and laminates, has fixed the price band at Rs 235-247 per share for its maiden public issue on September 10.

The company is raising Rs 451.3 crore via initial public offering (IPO), comprising entirely an offer-for-sale by promoters.

This means Euro Pratik Sales will not receive any money from the offer. The main purpose of the IPO launch is to carry out the offer-for-sale, and achieve the benefits of listing the equity shares on the BSE and NSE.

Half of the public issue is reserved for qualified institutional buyers. Further, 15 percent of the offer size has been set aside for non-institutional investors, and the remainder 35 percent for retail investors.

Investors can bid for a minimum of 60 equity shares and in multiples of 60 shares thereafter. Retail investors can invest a minimum amount of Rs 14,820 and their maximum investment in the offer can be Rs 1,92,660 for 780 shares.

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The public issue will close for the public on September 18. The Euro Pratik Sales IPO share allotment will be finalised by September 19, while the trading in Euro Pratik Sales will commence on the bourses on September 23.

The company, which operates on an asset-light business model by outsourcing manufacturing processes for decorative wall panel and laminates, offers alternative to traditional wall decoration products such as wallpaper, wood and paint through a network of 180 distributors across 25 states and five union territories in India.

Axis Capital, and Dam Capital Advisors are managing the Euro Pratik Sales IPO.