Epack Durables GMP has been consistently on a downward trend since the close of the IPO. However, going by the current trends, the stock is expected to list at a premium of 2.6%.
It is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
Fresh proceeds from the IPO will be used to fund capital expansion plans and repay part of its outstanding debt.
Epack Durable is the second largest room air conditioner original design manufacturer (ODM) in India in terms of the number of units in FY23. Its current product portfolio comprises room air conditioners where it designs and manufactures complete RACs, small domestic appliances, and components.
The company has a 24% market share in terms of domestically manufactured units by ODM in FY23. The plants are vertically integrated and automated would improve the margins going forward.
Its strengths include its long-standing relationships with top customers, advanced vertically integrated manufacturing, and robust product development capabilities.The company’s revenue, EBITDA and PAT grew at a CAGR of 44.6%, 56.2%, and 102.5%, respectively during the FY21-23 period.
For the six months ended September 2023, the company reported revenue of Rs 615 crore, while net profit stood at Rs 2.6 crore. In FY23, the company’s revenue from operations rose 66% year-on-year to Rs 1,539 crore and profit jumped 88% to Rs 32 crore.
Axis Capital, DAM Capital Advisors, and ICICI Securities acted as the book running lead managers to the issue.
(You can now subscribe to our ETMarkets WhatsApp channel)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
