EPACK Durable IPO opens today: Should you subscribe to the issue?
Incorporated in 2019, EPACK Durable is an original design manufacturer (ODM) of room air conditioners (RAC). The company also manufactures AC components.
- Jan 19, 2024,
- Updated Jan 19, 2024 8:31 AM IST
The Rs 600 crore-initial public offering (IPO) of EPACK Durable will open for public bidding on Friday, January 19 and investors can bid for the issue till Tuesday, January 23. The company has fixed the issue price at Rs 218-230 apiece and suggested a lot size of 65 equity shares. Long-standing relationships with marquee customers, diverse product portfolio, backward integrated manufacturing facilities and strong management experience in the field of component and RAC manufacturing positions EPACK favorably for the future, said StoxBox. "On the upper price band, the issue is valued at a P/E of 49.6 times based on FY2023 earnings which we feel is fairly valued and is lower than its comparable peers. We, therefore, recommend a 'subscribe' rating to the issue from a medium to long-term perspective," he said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Stock recommendations by analyst for Jan 19, 2024: Suzlon Energy, BHEL & Metropolis Healthcare
Also read: Dixon Technologies shares in focus as DRI searches arm's Noida manufacturing unit
The Rs 600 crore-initial public offering (IPO) of EPACK Durable will open for public bidding on Friday, January 19 and investors can bid for the issue till Tuesday, January 23. The company has fixed the issue price at Rs 218-230 apiece and suggested a lot size of 65 equity shares. Long-standing relationships with marquee customers, diverse product portfolio, backward integrated manufacturing facilities and strong management experience in the field of component and RAC manufacturing positions EPACK favorably for the future, said StoxBox. "On the upper price band, the issue is valued at a P/E of 49.6 times based on FY2023 earnings which we feel is fairly valued and is lower than its comparable peers. We, therefore, recommend a 'subscribe' rating to the issue from a medium to long-term perspective," he said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Stock recommendations by analyst for Jan 19, 2024: Suzlon Energy, BHEL & Metropolis Healthcare
Also read: Dixon Technologies shares in focus as DRI searches arm's Noida manufacturing unit