EPACK Durable IPO Date, Review, Price, Allotment Details

EPACK Durable’s Initial Public Offering(IPO) Details have been confirmed it will launch on January 13 and close four days later on January 14. EPACK Durable plans on raising around Rs[.] crores through an IPO which entails fresh issues of around Rs400 crores as well as sales up to 13,067,890 equity shares of Rs10 each for offer for sale; with retail shares accounting for 35% while QIB 50% and HNI 15% being eligible to take part.

EPACK Durable IPO Date Review Price Allotment Details

About EPACK Durable:

EPACK Durable Limited was established in 2019 as an Original Design Manufacturer (ODM) of room air conditioners (RAC).

Company manufactures components for use in the production of RACs such as sheet metal parts, injection moulded parts, cross-flow fans and PCBA components that are actively utilized. Recently the business expanded into small domestic appliance (SDA) market due to seasonal demands of RACs; developing and producing induction hobs, blenders and water dispensers amongst other SDA products.

Dehradun Unit I and II; Dehradun Unit III and Dehradun Unit IV are among its four manufacturing facilities located in Dehradun; one manufacturing facility was also present at Bhiwadi in Rajasthan with annual capacity to manufacture 0.90 million IDUs; 0.66 million ODUs, 0.36 million ODU kits, 0.42 million WACs as of March 31 2023 as well as 0.11 million water dispensers, 1.24 million induction hobs and 0.30 mixers along with their components

EPACK Durable was India’s fastest-growing room air conditioner original design manufacturer between Fiscals 2020-2023 in terms of volume growth manufactured. They held 29% share for volume manufactured (excluding imported kits filled with gas in India ). (Source: F&S Report).

Since 2003, they have been on an evolving journey as an OEM supplier for various RAC brands before expanding to become ODM partners for these same RAC brands. Their customer-first philosophy drives all their decisions – product innovation is at their core!

EPACK Durable saw an opportunity to add value for their customers and has begun manufacturing components including sheet metal, injection molded parts, cross flow fans and PCBA components that are actively utilized during RAC production. Parallelial to this, they used their existing manufacturing infrastructure to strategically expand into small domestic appliances (“SDA”) market despite seasonality of demand for RACs; currently designing and producing induction cooktops, mixer-grinders, and water dispensers as evidence of backward integration of operations and diversification of revenue streams.

Pro and Cons:

FeatureProsCons
Business Model– Strong client base of leading AC brands. – Flexible, adaptable to client needs. – Potential for higher margins compared to contract manufacturing.– Dependent on client demand and specifications. – Limited control over brand building and marketing.
Financial Performance– Consistent revenue growth in recent years. – Profitable with improving margins.– Relatively new company with limited track record. – Lower profitability compared to established players.
Manufacturing– Vertically integrated, controlling production stages. – Focus on quality control and efficiency.– High upfront investment in machinery and infrastructure. – Vulnerable to disruptions in supply chain or raw material prices.
Technology and Innovation– Focus on R&D for new AC models and technologies. – Offers energy-efficient inverter ACs.– Limited brand recognition for innovative offerings. – Reliant on external partners for certain components and technologies.
Market Potential– Growing Indian AC market, especially for inverter ACs. – Potential for international expansion.– Intense competition from established players and global brands. – Seasonality in demand impacting year-round performance.
Investment Considerations– High-growth potential in a promising market. – Strong management team with industry experience. – Recent IPO provides access to capital for expansion.– Relatively unknown company compared to established peers. – Higher risk associated with a smaller, newer player. – Limited market data and historical track record.

Investment Analysis:

Key Strengths are:

  • Fastest growing room AC ODM manufacturer in India by volume.
  • Vertically integrated manufacturing process.
  • Focus on innovation and energy efficiency.

Weaknesses: 

  • Rely heavily on seasonal demands for cooling.
  • Relatively new company with limited track record.
  • Competition from established players.

Opportunities:

  •  Surging Indian AC market and growing interest for inverter ACs.
  • Potential international expansion.

Threats: 

  • Macroeconomic factors and inflation posing threats to consumer spending habits.
  • Fluctuations in raw material prices.
  • Competition from foreign brands

Offer details and objectives:

  • Finance capital expenditure related to expanding/establishing manufacturing facilities;
  • Repayment or prepayment in part or full of certain outstanding loans held by the company;
  • General corporate purposes.

EPACK Durable IPO Dates & Band Price Details:

IPO Open:Friday, January 19, 2024
IPO Close:Tuesday, January 23, 2024
IPO Size:Approx ₹640 Crores
Fresh Issue:Approx ₹400 Crores
Offer for Sale:Approx 13,067,890 Equity Share
Face Value:₹10 Per Equity Share
IPO Price Band:₹218 to ₹230 Per Share
IPO Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
 NII Quota:15%
Discount:N/A
DRHP Draft Prospectus:Click Here

EPACK Durable IPO Market Lot:

EPACK Durable IPO minimum market lot consists of 65 shares at an application fee of Rs14,950. Retail investors may submit up to 13 lots using 845 shares or Rs194,350.

ApplicationLot SizeSharesAmount
Retail Minimum165₹14,950
Retail Maximum13845₹194,350
S-HNI Minimum14910₹209,300
B-HNI Minimum684,355₹1,001,650

EPACK Durable IPO Dates and details:

IPO Open DateFriday, January 19, 2024
IPO Close DateTuesday, January 23, 2024
Basis of AllotmentWednesday, January 24, 2024
Initiation of RefundsThursday, January 25, 2024
Credit of Shares to DematThursday, January 25, 2024
Listing DateMonday, January 29, 2024
Cut-off time for UPI mandate confirmation5 PM on January 23, 2024

EPACK Durable  Company Financial Report:

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,071.451,464.161,076.68520.37
Revenue616.321,540.25927.34739.66
Profit After Tax2.6531.9717.437.80
Net Worth478.31313.62121.8768.91
Reserves and Surplus
Total Borrowing369.57492.45383.98238.56
Screenshot 2024 01 17 223633
Screenshot 2024 01 17 223357

Peer Group of companies:

Amber Enterprises India Ltd

  • PG Electroplast Limited
  • Dixon Technologies (India) Ltd
  • Elin Electronics Ltd

Company Promoters

  • Bajrang Bothra
  • Laxmi Pat Bothra
  • Sanjay Singhania
  • Ajay DD Singhania

Company Details:

CategoryDetails
RegistrarKfin Technologies Limited
Registrar ContactPhone: 04067162222, 04079611000
Email: [email protected]
Website: Kfin Technologies
Allotment Status CheckCheck on Kfin Technologies Allotment
Lead Managers (Merchant Bankers)Axis Capital Limited
Dam Capital Advisors Ltd
ICICI Securities Limited
Company AddressEPACK Durable Limited, 61-B, Udyog Vihar, Surajpur,
Kasna Road, Greater Noida, Gautam Buddha Nagar – 201 306
Contact (Company)Phone: +91 120 2569078
Email: [email protected]
Website: EPACK Durable

When EPACK Durable IPO will open?

EPACK Durable IPO will open on Friday, January 19, 2024.

What is EPACK Durable IPO Investors Portion?

QIB investors account for 50%, NII 15% and Retail 35% respectively.

What is EPACK Durable IPO Price Band?

EPACK Durable IPO Price Band Range Is between Rs 218 to Rs 230.

What is EPACK Durable IPO Size?

EPACK Durable IPO size: Rs 640 crores.

What is EPACK Durable IPO Minimum and Maximum Lot Size?

Minimum bid amount will be Rs 14950. Maximum Bid amount shall be 194,350.

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