Muted market debut: EPACK Durable shares list at around 4% discount
The Initial Public Offering (IPO) had a fresh issue of Rs 400 crore and an Offer-for-Sale (OFS) of up to 1,04,37,047 equity shares.
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Shares of EPACK Durable Ltd on Tuesday made a muted debut on Dalal Stree. The stock of the company started the trade at Rs 225 on the BSE, at a discount of 2.17 per cent from the issue price of Rs 230. It further fell by 8.15 per cent to Rs 211.25. At the NSE, it declined 3.91 per cent to Rs 221 in opening deals.
The company's market valuation stood at Rs 2,086.97 crore.
Earlier, the initial share sale of EPACK Durable was subscribed 16.37 times.
The Initial Public Offering (IPO) had a fresh issue of Rs 400 crore and an Offer-for-Sale (OFS) of up to 1,04,37,047 equity shares.
The price band was fixed at Rs 218-230 a share. Founded in 2002, the company has integrated manufacturing facilities in Dehradun (Uttarakhand) and Bhiwadi (Rajasthan).
It manufactures room air conditioners, components, and small household appliances for leading Indian and MNC brands in India as an Original Design Manufacturer (ODM).
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