Epack Durable Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹230
Per ShareLot Size
65 Shares
Minimum Investment
₹14,950
Issue Size
₹640.05 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Epack Durable Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
42.9%
Issue Type
Book Building
ISIN
INE0G5901015
About the Company
EPACK Durable Limited manufactures room air conditioners ("RAC") and small domestic appliances ("SDA"), and its components. The Company operates in the RAC industry and the SDA industry, which are sub-sets of the consumer durables market. The small domestic appliances we currently design and manufacture include induction cooktops, mixergrinders, and water dispensers. Further, the components the company manufactures are heat exchangers, cross flow fans, axial fans, sheet metal press parts, injection moulded components, copper fabricated products, PCBAs, universal motors and induction coils for captive consumption as well as part of its product offerings to its customers. Its listed peers include Amber Enterprises India Limited, PG Electroplast Limited, Dixon Technologies (India) Limited, and Elin Electronics Limited.
Industry Overview
The Indian consumer durables market size grew from Fiscal 2018 to Fiscal 2023 at a CAGR of 10.1%. The Company operates in the room air conditioners ("RAC") industry and the small domestic appliances ("SDA") industry, which are sub-sets of the consumer durables market. In the near future, the market is anticipated to experience growth acceleration fuelled by rising rural consumption, a shorter replacement cycle, increased retail penetration, and the availability of numerous brands and products at various price points. The overall market size of consumer durables market for Fiscal 2023 is estimated at Rs. 1,303 billion, and the market is expected to grow at an 13.7% CAGR until Fiscal 2028.
Company History
The Company was incorporated on April 20, 2019, as `EPACK Durables Solutions Private Limited' in Greater Noida, Uttar Pradesh, as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated May 6, 2019, issued by the Registrar of Companies, Uttar Pradesh at Kanpur ("RoC"), upon the conversion of M/s E-Vision, a partnership firm (constituted in 2005 pursuant to the partnership deed dated July 16, 2005), into a private limited company. Subsequently, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on July 30, 2021, the name of the Company was changed from `EPACK Durables Solutions Private Limited' to `EPACK Durable Private Limited', as part of the corporate rebranding of the Company to reflect the principal business being undertaken by the Company, and consequently, a fresh certificate of incorporation dated September 17, 2021, was issued by the RoC to the Company. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on June 13, 2023, and the name of the Company was changed to `EPACK Durable Limited', and a fresh certificate of incorporation dated June 28, 2023, was issued to the Company by the RoC.
Products & Services
- Epack Durable Limited manufactures room air conditioners ("RAC") and small domestic appliances ("SDA"), and its components.
Growth Strategy
- Expanding its existing product portfolio, including our RAC and SDA components product portfolio.
- Continue to drive operational efficiencies through expansion of its integrated manufacturing capabilities and continued investment in its R&D infrastructure.
- Increase wallet share with existing customers and continued focus to expand its customer base.
- Further explore initiatives to strengthen control over its supply chain.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 27,828,351* equity shares of face value of Rs. 10 each ("Equity Shares") of the company for cash at a price of Rs. 230 per equity share (including a share premium of Rs. 220 per equity share) ("Offer Price") aggregating to Rs. 640.05* crores ("Offer"). The offer comprises a fresh issue of 17,391,304* equity shares aggregating to Rs. 400.00 crores ("Fresh Issue") and an offer for sale of 10,437,047* equity shares ("Offered Shares") aggregating to Rs. 240.05* crores, comprising 1,172,976 equity shares aggregating to Rs. 26.98* crores by Bajrang Bothra, 666,798 equity shares aggregating to Rs. 15.34* crores by Laxmi Pat Bothra, 748,721 equity shares aggregating to Rs. 17.22* crores by Sanjay Singhania, 748,721 equity shares aggregating to Rs. 17.22* crores by Ajay dd Singhania (collectively, the "Promoter Selling Shareholders"), 286,351 equity shares aggregating to Rs. 6.59* crores by Pinky Ajay Singhania, 286,351 equity shares aggregating to Rs. 6.59* crores by Preity Singhania, 442,905 equity shares aggregating to Rs. 10.19* crores by Nikhil Bothra, 442,905 equity shares aggregating to Rs. 10.19* crores by Nitin Bothra, 379,633 equity shares aggregating to Rs. 8.73* crores by Rajjat Kumar Bothra (collectively, the "Promoter Group Selling Shareholders"), 4,630,284 equity shares aggregating to Rs. 106.50* crores by India Advantage Fund s4 i and 631,402 equity shares aggregating to Rs. 14.52* crores by Dynamic India Fund s4 us i (collectively, the "Investor Selling Shareholders", and together with the promoter selling shareholders and the promoter group selling shareholders, the "Selling Shareholders", and such offer for sale of equity shares by the selling shareholders, the "Offer for Sale"). The offer constituted 29.05% of the post-offer paid up equity share capital of the company. The face value of the equity share is Rs. 10 each. The offer price is 23 times the face value of the equity shares. *Subject to finalisation of the basis of allotment.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Long-standing relationships with established customers, with potential to expand its customer base.
- Among the key manufacturers in the fast-growing room air conditioners ("RAC") and small domestic appliances ("SDA") manufacturing industries.
- Advanced vertically integrated manufacturing operations with product portfolio aimed at capturing the full spectrum of the RAC and SDA value chain.
- Robust product development and design optimisation capabilities.
- Experienced Promoters supported by senior management team with proven track record of performance.
- A significant portion of its revenue is generated from certain key customers, and the loss of one or more such customers, the deterioration of their financial condition or prospects, or a reduction in their requirement for its products could adversely affect its business, results of operations, financial condition and cash flows.
- The company customers do not make long-term commitments to it and may cancel or change their production requirements. Such cancellations or changes may adversely affect its financial condition, cash flows and results of operations.
- The company's business is dependent on its manufacturing facilities, and its subject to certain risks in the company manufacturing process. Any slowdown or shutdown in its manufacturing operations could have an adverse effect on its business, financial condition and results of operations.
- If the company is unable to introduce new products and respond to changing customer requirements, including due to changing customer preferences and regulatory requirements in a timely and effective manner, the demand for its products may decline, which may have an adverse effect on its business, results of operations and financial condition.
- The company RAC business is subject to seasonal variations and cyclicality that could result in fluctuations in its results of operations.