ICICI Venture exits Epack Durable, sells shares in open market

Epack Durable went public in January 2024 raising Rs 640 crore, which consisted of a fresh issue of Rs 400 crore and an offer for sale of Rs 240 crore.

Domestic private equity fund manager ICICI Venture has sold its remaining shareholding in Epack Durable Limited, the consumer durables maker has told the exchanges.

ICICI Venture sold 36.38 lakh shares of Epack Durable, a 3.79 percent shareholding, through open market trades between March 24 and July 31, the company said.

At the average stock price of Epack in the above period, the quantum of shares sold by ICICI Venture are worth approximately Rs 132 crore.

The Epack stock has lost 30 percent this year. It closed at Rs 385.7 on the BSE on August 5.

Epack Durable went public in January 2024 raising Rs 640 crore through an IPO, which consisted of a fresh issue of Rs 400 crore and an offer for sale of Rs 240 crore. 

EPACK Durable is an original design manufacturer of room air conditioners (RAC). The company also manufactures components such as sheet metal parts, injection moulded parts, cross-flow fans, and PCBA components that are used in the production of RACs.

ICICI Venture invested Rs 160 crore in Epack Durable in 2021. It sold shares worth around Rs 121 crore in the IPO, which reduced its stake to 11 percent.

At the start of 2025, ICICI Venture held a 5.1 percent stake in Epack, stock exchange data shows.

In Q1, the consumer durables maker’s revenue dipped 14 percent to Rs 662.4 crore due to unexpected weather fluctuations and surplus finished goods inventory (in industry) carried over from Q4 FY25, the company said.

Ebitda, however, grew by 5.6 percent to Rs 54.6 crore.

“We delivered a good performance despite the head winds in the market primarily due to unseasonal rain in Q1 FY26. During the quarter, we added several new customers and benefited from a more optimized product mix, which contributed to improved EBITDA margins and enhanced profit margins compared to the previous quarter on year on year basis,” Epack Durable managing director and CEO Ajay DD Singhania said in a statement.