Epack Prefab Technologies' Market Debut: A Chilly Reception
Epack Prefab Technologies Ltd shares debuted with a nearly 10% discount on major stock exchanges. The IPO, which was oversubscribed, raised Rs 504 crore. The proceeds will fund a new manufacturing facility, expand existing operations, and pay off debt, supporting the company's expansion in pre-engineered building solutions.
- Country:
- India
On Wednesday, Epack Prefab Technologies Ltd shares entered the stock market with a significant 9.87% discount from the issue price, opening at Rs 186.10 on the BSE. Simultaneously, the stock commenced trading at Rs 183.85 on the NSE.
The company, boasting a market valuation of Rs 1,868.41 crore, experienced an IPO oversubscription of 3.07 times. The Rs 504 crore public offering fell within a price band of Rs 194 to Rs 204 per share, including a Rs 300 crore fresh issue and an OFS amounting to Rs 204 crore.
The IPO proceeds are earmarked for several strategic enhancements: establishing a new facility in Rajasthan, expanding Andhra Pradesh operations, and reducing debt. Incorporated in 1999, Epack specializes in Pre-Engineered Building solutions, operating facilities and design centers across key Indian states.
(With inputs from agencies.)
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