EPack Prefab Technologies: Promising IPO with Strategic Expansion Plans
EPack Prefab Technologies sees a promising IPO, with 59% subscriptions on day two. The Greater Noida-based company plans to utilize the proceeds for infrastructure development, debt payments, and corporate needs. With a fresh issue of Rs 300 crore, the IPO aims to enhance its manufacturing capabilities.
- Country:
- India
EPack Prefab Technologies' initial public offering (IPO) garnered 59% subscription on its second day, signaling robust investor interest. The IPO, a crucial step for the company's strategic growth, has received bids for over 1.04 crore shares out of the 1.76 crore on offer, according to NSE data.
The IPO, which concludes on Friday, aims to raise Rs 504 crore with a price band set between Rs 194 and Rs 204 per share. It includes a fresh issue of Rs 300 crore and an offer for sale of 1 crore shares valued at Rs 204 crore at the upper band.
Proceeds are earmarked for setting up a new manufacturing facility in Rajasthan, expanding an existing plant in Andhra Pradesh, and reducing debt. The Greater Noida-based company, founded in 1999, specializes in Pre-Engineered Building (PEB) solutions and operates several manufacturing and design centers.
(With inputs from agencies.)
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