New Delhi: EPack Prefab Technologies on Tuesday announced that it has raised Rs 151.2 crore from anchor investors, a day ahead of the opening of its initial share-sale for public subscription.
Among the anchor investors are Citigroup Global Markets Mauritius, Morgan Stanley Asia (Singapore) Pte, WhiteOak Capital Mutual Fund, and Ashika Global Securities, according to a circular uploaded on the BSE website. EPack Prefab Technologies has allotted 74.12 lakh equity shares to 16 funds at Rs 204 apiece, the circular added.
The Rs 504-crore IPO is set to open for subscription on September 24 and conclude on September 26. The Greater Noida-based company has fixed a price band of Rs 194 to Rs 204 per share for its maiden public offering.
The IPO comprises fresh issues of shares worth Rs 300 crore and an Offer For Sale (OFS) of 1 crore shares by promoters, valued at Rs 204 crore at the upper end of the price band.
Proceeds from the fresh issue will be allocated as follows:
– Rs 101.62 crore will be used for setting up a new manufacturing facility at Ghiloth Industrial Area in Alwar, Rajasthan.
– Rs 58.10 crore will be directed towards expanding the existing manufacturing facility in Mambattu, Andhra Pradesh, to increase the pre-engineered steel building capacity.
– Rs 70 crore will be utilized for debt repayment.
– A portion of the proceeds will also be used for general corporate purposes.
Incorporated in 1999, EPack Prefab Technologies provides Pre-Engineered Building (PEB) solutions that cover design, fabrication, and installation for industries across commercial, industrial, and institutional sectors.
As of December 2024, the company operates three manufacturing facilities located in Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh). Additionally, it has three design centres situated in Noida (Uttar Pradesh), Hyderabad (Telangana), and Visakhapatnam (Andhra Pradesh).
Regarding issue allocation, 50% of the IPO is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the issue, while KFin Technologies is appointed as the registrar.
Shares of EPack Prefab Technologies are expected to be listed on the stock exchanges on October 1.
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