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  4. EPACK Durable IPO: Shares fall nearly 10 per cent below issue price on market debut

EPACK Durable IPO: Shares fall nearly 10 per cent below issue price on market debut

The stock fell by 10.56 per cent during the day to Rs 205.70 and ended the trading session at Rs 207.70 apiece, down 9.69 per cent.

Akshit Tyagi Edited By: Akshit Tyagi New Delhi Published on: January 30, 2024 17:52 IST
Stock market
Image Source : PIXABAY Stock market

EPACK Durable Ltd shares concluded their debut trade with a nearly 10 per cent decline against the issue price of Rs 230. EPACK Durable specialises in manufacturing room air conditioners and small household appliances.

The stock started trading at Rs 225, marking a 2.17 per cent dip from the issue price on the BSE. It further fell by 10.56 per cent during the day to Rs 205.70 and closed at Rs 207.70 apiece, down 9.69 per cent.

On the NSE, it dropped 9.5 per cent to Rs 208.15 per share after commencing trade at Rs 221, reflecting a 3.91 per cent decrease. The company's market valuation stood at Rs 1,989.74 crore.

The 30-share BSE Sensex fell by 801.67 points, or 1.11 per cent to settle at 71,139.90, and the Nifty declined 215.50 points, or 0.99 per cent to 21,522.10. The IPO of EPACK Durable was subscribed 16.37 times on the final day of subscription on January 24, with a fresh issue of Rs 400 crore and an Offer for Sale (OFS) component of up to 1,04,37,047 equity shares at a price band of Rs 218-230 per share.

Founded in 2002, the company has integrated manufacturing facilities in Dehradun (Uttarakhand) and Bhiwadi (Rajasthan), focusing on room air conditioners, components, and small household appliances as an Original Design Manufacturer (ODM) for leading Indian and MNC brands.

(With PTI inputs)

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