EPACK Durables IPO opens on January 19. Check IPO details issue date price


EPACK Durables IPO opens on January 19. Check IPO details issue date price

January 19, 2024
EPACK Durables IPO opens on January 19. Check IPO details issue date price

EPACK Durables Limited is coming out with a public issue to raise Rs 640 crores from the market.

Below are the details of the EPACK Durables IPO:

  • Issue opens – January 19 (Friday)
  • Issue closes – January 24 (Wednesday)
  • Issue size – Rs 640 crores
  • Price band – Rs 218 to 230 per equity share
  • Bid lot – 65 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company details:

  • EPACK Durables (EPACK) was incorporated on April 20, 2019. EPACK is the second largest room air conditioner (RAC) original design manufacturer (“ODM”) in India in terms of number of units (indoor units + outdoor units) manufactured in Fiscal 2023 through the ODM route. After initially starting as OEM for RAC brands the company has evolved into an ODM partner for RACs for customers. EPACK also started manufacturing various components for RAC’s as a value addition to its offering. Further the company has strategically diversified in the small domestic appliances (“SDA”) market, particularly considering the seasonality of the demand for RACs.
  • EPACK designs and manufactures complete RACs including window air conditioners, indoor units, and outdoor units for Split ACs with specifications ranging from 0.75 ton to 2 ton, across energy ratings and types of refrigerants. In SDAs the company currently design and manufacture induction cooktops, mixer-grinders, and water dispensers.
  • EPACK has the highest amount of backward integration for RACs at a single location, that has been grown within the same company organically in India. 
  • The company has vertically integrated manufacturing facilities at 3 locations at Dehradun- Uttarakhand, Bhiwadi-Rajasthan and Sri City- Andhra Pradesh. Further the company plans to set up two new manufacturing facilities at (i) Salarpur Industrial Area, Bhiwadi, Rajasthan and (ii) Sri City DTZ, Andhra Pradesh.
  • EPACK has 1 registered patent in India for air conditioner with air sterilisation and has filed for the registration of 2 patents in India, in respect of (i) collar with optimized flared section for joining tubes in coil of heat exchanger, and (ii) air conditioning system having heat exchanger. Further the company has 10 registered designs, including for window air conditioner, mixer, blender, and water dispenser.
  • EPACK’s customers include 4 of the top 6 RAC brands in the Indian market (in terms of RAC sales in Fiscal 2023 in India). Further, the company has long-standing relationships with several well-known Indian and global customers. The average relationship with RAC customers is 8.7 years and with SDA Customers is 6.3 years.
  • EPACK is one of the initial Indian RAC ODM companies to manufacture 5 mm copper tubing for the heat exchangers. Additionally, the company is one of the initial Indian RAC ODMs to design and manufacture WACs (both fixed speed and inverter models) with R32 refrigerant. EPACK has a dedicated R&D team comprising of 57 full time employees, as on September 30, 2023.

Issue Size: Rs. 640 crores

Issue break-up:

QIB – 50% of the offer – Rs 320.03 crores

NIB – 15% of the offer – Rs 96.01 crores

RET – 35% of the offer – Rs 224.02 crores

Listing: BSE and NSE

Registrar: KFin Technologies Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.


Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Wednesday, January 24, 2024

Not an Espresso customer, but still want to apply for the IPO? Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

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