Private Equity

Liquidity Events

Outsourced ACs maker Epack Durable’s Rs.640-Cr IPO oversubscribed

Money Control  

The public issue of Epack Durable, a Noida-based original design manufacturer (ODM) of room air conditioners, was subscribed 16.37 times, as investors picked up 32.7 crore equity shares against an offer size of 1.99 crore shares.High net-worth individuals (HNIs) bought 28.1 times the allotted quota. Retail investors picked up 6.29 times the portion set aside for them, while the part reserved for qualified institutional buyers (QIBs) was booked 25.5 times.The IPO is a mix of a fresh issuance of shares worth INR 400 crore and an offer-for-sale of 1.04 crore shares worth INR 240.05 crore by existing shareholders. Ahead of the issue, the company raised INR 192.02 crore through its anchor book.The company will use INR 230 crore of the net fresh issue proceeds for the expansion of manufacturing facilities and INR 80 crore for repaying debts.Axis Capital, DAM Capital Advisors and ICICI Securities are the managers to the offer.

Between 2021 and 2022, Epack had raised over USD 40 M from ICICI venture and Affirma Capital.