A new listing on the bourses today - Epack Durable. As against the IPO price of Rs.230, it got a muted listing at Rs.225 and is now trading at Rs.215 levels.
The IPO was overall subscribed 16.37x, with QIB portion at 25.5x, HNIs at 28.1x and Retail at 6.29x.
Epack Durable is a 10-year old contract manufacturer of air conditioners (AC) and small domestic appliances (mixer grinder, induction cooktop, water dispenser) and electronic components.
Our verdict in the IPO Analysis section - while IPO pricing is lower than peers, short term selling pressure may limit immediate gains. However, attractive growth plans will translate into higher earnings in the long term. Hence, we recommend applying in the IPO only with a long term view.