EPACK Durable Limited IPO : Investors have just one day left to apply for the initial public offering (IPO) of EPACK Durable Limited as the bidding period concludes today. The public issue has garnered significant attention, being oversubscribed 3.68 times in the first two days of bidding.
Despite a substantial sell-off on Tuesday, shares of EPACK Durable Limited have held steady in the grey market. The current grey market premium (GMP) for EPACK Durable IPO stands at ₹31, slightly lower than the Tuesday GMP of ₹35, attributed by market observers to the widespread sell-off across indices.
Analysts anticipate that the over-subscription of the book build issue in the initial days may attract the interest of investors on the final day of bidding. The EPACK Durable IPO subscription status, currently at a 13% premium in the grey market, could experience a surge as the day unfolds.
Key Subscription Figures:
- Overall subscription: 3.68 times
- Retail portion: 3.81 times
- NII portion: 7.90 times
- QIB portion: 0.17 times (initial days)
Latest Subscription Figures (by 3:36 PM on day 3):
- Overall subscription: 15.72 times
- Retail portion: 5.94 times
- NII portion: 27.68 times
- QIB portion: 24.12 times
Financial Performance and Recommendations:
BP Equities suggests a “Subscribe” rating, highlighting EPACK Durable’s robust financial performance with Revenue/EBITDA/PAT growth at a CAGR of 44.6%/56.2%/102.5% during FY2021-23. The issue is deemed fairly valued with a P/E of 49.6x based on FY2023 earnings.
Arihant Capital also recommends a “Subscribe for Long Term,” emphasizing EPACK Durable’s 24% market share, vertically integrated and automated plants, and strategic use of IPO proceeds for capacity expansion. The issue, valued at an EV/EBITDA of 20.2x and PE of 51.4x based on FY23 metrics, is seen as a favorable long-term investment.
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