Euro Pratik Sales Shares Jump Nearly 11% in Market Debut

Shares of Euro Pratik Sales Ltd, a prominent player in the decorative wall panel industry, on Tuesday listed with a premium of nearly 11 per cent against the issue price of Rs 247.

The stock made its market debut at Rs 273.45, up 10.70 per cent from the issue price on the BSE. Later, it jumped 13.17 per cent to Rs 279.55.

At the NSE, the stock listed at Rs 272.10, surging 10.16 per cent.

The company's market valuation stood at Rs 2,564.20 crore.

The initial public offer of Euro Pratik Sales Ltd received 1.34 times subscription on the closing day of bidding on Thursday last week.

The public issue was entirely an offer for sale of shares worth Rs 451.32 crore by promoters with no fresh issue component.

The price band for the offer was Rs 235 to Rs 247 per share.

Euro Pratik has an extensive product range catering to both residential and commercial applications, which is predominantly sold under its flagship brands 'Euro Pratik' and Gloirio.

The company operates on an asset-light model - it outsources manufacturing to contract partners across South Korea, China, and the US.