Euro Pratik IPO Garners Strong Initial Interest

Euro Pratik Sales Ltd, a renowned entity in the decorative wall panel sector, saw a 43% subscription of its IPO on the opening day, Tuesday.

As per available data, bids reached 58,25,340 shares against the 1,34,64,781 shares on offer. Non-institutional investor interest reached 89%, while Retail Individual Investors subscribed to 33%, and the Qualified Institutional Buyers segment secured 26% subscriptions.

The company raised Rs 135 crore from anchor investors, part of the Rs 451.32 crore share offer by promoters, which lacks a new issue element. Shares are priced between Rs 235 and Rs 247, with the IPO concluding on September 18. The asset-light model of Euro Pratik relies on manufacturing by partners in South Korea, China, and the US. Axis Capital and DAM Capital Advisors manage the book-running for the issue. Post-IPO, shares will list on the NSE and BSE.

(With inputs from agencies.)