Epack Prefab IPO listing: Shares of Epack Prefab Technologies made their debut at a discount on the BSE and NSE on Wednesday, October 1.
On the BSE, the stock listed at ₹186.10, nearly 9 per cent below its issue price of ₹204 and hit a high and low of ₹190 and ₹183.85, respectively.
On the NSE, Epack Prefab listed at ₹183.85, a discount of 10 per cent from the issue price. However, the stock hit a high of ₹192.95 on the NSE.
The stock’s listing failed to meet market expectations, as grey markets were expecting the stock to list flat.
According to investorgain.com, the last of Epack Prefab IPO GMP was nil, which meant shares were trading at their issue price of ₹204 with no premium or discount in the grey market.
Epack Prefab IPO details
opened for subscription on Wednesday, September 24, and closed on Friday, September 26. The issue’s price band was fixed in the range of ₹194 to ₹204 per equity share.
The IPO consisted of new share issues totalling ₹300 crore, along with an offer for sale (OFS) of 1 crore shares from promoters, valued at ₹204 crore based on the maximum price.
The funds raised from the fresh issue will be allocated for constructing a new manufacturing facility in the Ghiloth Industrial Area of Alwar, Rajasthan; ₹58.10 crore will be directed towards expanding the current manufacturing facility in Mambattu, Andhra Pradesh, to enhance the capacity for pre-engineered steel buildings; ₹70 crore is earmarked for debt repayment, and a portion will also be utilized for general corporate needs.
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