Shares of Epack Prefab Technologies Ltd on Wednesday listed with a discount of nearly 10 per cent against the issue price of Rs 204. The stock made its market debut at Rs 186.10, a discount of 9.87 per cent from the issue price on the BSE.
Epack Prefab Tech Shares Debut with Nearly 10% Discount
Epack Prefab Tech shares made their market debut with a nearly 10 percent discount, reflecting investor sentiment and initial public offering performance.
Advertisement
At the NSE, the stock listed at Rs 183.85, a decline of 9.87 per cent.
The company's market valuation stood at Rs 1,868.41 crore.
The initial share sale of Epack Prefab Technologies Ltd fetched 3.07 times subscription on the final day of bidding on Friday last week.
The Rs 504 crore initial public offer had a price band of Rs 194 to Rs 204 per share.
The company's IPO had a fresh issue of shares worth Rs 300 crore and an offer for sale (OFS) of 1 crore shares by promoters valued at Rs 204 crore at the upper end.
Proceeds from the fresh issue to the extent of Rs 101.62 crore will be used for setting up a new manufacturing facility at Ghiloth Industrial Area at Alwar in Rajasthan; Rs 58.10 crore for expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh for increasing the pre-engineered steel building capacity; Rs 70 crore for payment of debt and a portion will be used for general corporate purposes.
Advertisement
Incorporated in 1999, EPack Prefab Technologies provides Pre-Engineered Building (PEB) solutions, covering design, fabrication, and installation for industries across commercial, industrial, and institutional sectors.
The company operates three manufacturing facilities in Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh) as of December 2024. It also operates three design centres located in Noida (Uttar Pradesh), Hyderabad (Telangana), and Visakhapatnam (Andhra Pradesh).
Show comments