EPACK Durable IPO allotment status: Check application, latest GMP and listing date

EPACK Durable is likely to announce the basis of allotment for its recent public issue on Thursday, January 25. Bidders are likely to receive messages, alerts or emails regarding debit of funds or revocations of IPO mandate over the extended weekend or by Monday, January 29. The ODM player had received a decent response for its IPO that ran from January 19 to January 24.

EPACK Durable sold its IPO in the price band of Rs 218-230 per share. The company raised Rs 640 crore from its primary offering, which included a fresh share sale of Rs 400 crore and offer-for-sale (OFS) of up to 1.04 crore equity shares.

The issue was subscribed 16.37 times, thanks to strong bidding from qualified institutional bidders (25.50 times). The quota for non-institutional investors was subscribed 28.10 times while the portion reserved for retail investors was subscribed 6.29 times.

Grey market premium (GMP) of EPACK Durable had seen a steep correction during the bidding process. Last heard, the company was commanding a premium of Rs 21-24 per share, suggesting a listing pop of 8-10 per cent for the investors. However, it was around Rs 28-30, when the issue was open for bidding.

Incorporated in 2019, EPACK Durable is an original design manufacturer (ODM) of room air conditioners (RAC). The company also manufactures components such as sheet metal parts, injection moulded parts, cross-flow fans, and PCBA components that are actively used in the production of RACs.

Brokerage firms were mostly positive on EPACK Durable IPO and had suggested “subscribing for the long term”, citing the company's strong leadership and growth potential of the business. Stiff competition and rich valuations of the issue were, however, seen as concerns.

Axis Capital, Dam Capital Advisors (formerly IFDC Securities) and ICICI Securities are the book running lead managers of the EPACK Durable IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed at the bourses on both BSE and NSE on Monday, January 29.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select EPACK Durable Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.


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.

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