Euro Pratik Sales IPO Sees Strong Investor Interest

Euro Pratik Sales Ltd, a major entity in the decorative wall panel sector, saw its initial public offer (IPO) being subscribed 1.34 times by the end of bidding on Thursday.

The IPO, spanning three days, garnered bids for 1,79,78,280 shares compared to the 1,34,64,781 shares that were up for offer according to the NSE's data. The allocation for non-institutional investors saw a subscription rate of 1.92 times, while retail individual investors (RIIs) subscribed at 1.23 times, and qualified institutional buyers (QIBs) at 1.05 times.

Notably, the entire public issue, priced between Rs 235 to Rs 247 per share, is an offer-for-sale by company promoters, aiming to raise Rs 451.32 crore without any new share issues. Euro Pratik Sales has an asset-light business model, outsourcing manufacturing across South Korea, China, and the US, concentrating mainly on its well-known brands, Euro Pratik and Gloirio. The shares will be listed on NSE and BSE, with Axis Capital and DAM Capital Advisors leading the book-running for the offer.