₹ 218 - ₹ 230
19-Jan-2024 - 24-Jan-2024
₹ 14950.00



19-Jan-2024 - 24-Jan-2024

₹ 218 - ₹ 230

Price Band

₹ 14950.00

Minimum Investment


Bid Lot


  • Face Value - ₹ 10/- Per Share

  • Listing at NSE BSE

  • 149,844 Application Required in Retail for 1 Time.

  • Registrar : KFin Technologies Limited

IPO Details

Fresh Issue of Equity Shares aggregating upto Rs.400 Cr and Offer for Sale of upto 1,04,37,047 Equity Shares

Category % Shares/Amount
QIB 50% 13,914,175 Shares Rs. 320.03 Cr
HNI 1 5% 1,391,418 Shares Rs. 32.00 Cr @ 1529 Form 1X
HNI 2 10% 2,882,835 Shares Rs. 64.01 Cr @ 3058 Form 1X
Retail 35% 9,739,923 Shares Rs. 224.02 Cr @ 149845 Form 1X

BRLMs: Axis Capital, DAM Capital Advisors, ICICI Securities

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
149845 Form 1X 1529 Form 1X 3058 Form 1X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 65 ₹ 14,950
Retail (Upto 2 Lakh) 13 845 ₹ 194,350
S-HNI (2 Lakh to 10 Lakh) 14 910 ₹ 209,300
S-HNI (2 Lakh to 10 Lakh) 66 4290 ₹ 986,700
B-HNI (Above 10 Lakh) 67 4355 ₹ 1,001,650

IPO Timeline

  • Open Date

  • Close Date

  • Basis of Allotment Date

  • Initiation of Refunds

  • Credit Shares to Demat A/c

  • IPO Listing Date


Subscription as on
24-Jan-2024 17:07

Category Book Size Subscription No. of Times
QIB 5,565,670 ₹ 128.01 Cr. 142,422,020 ₹ 3275.71 Cr. 25.59x
HNI (<10 LAKH) 1,391,418 ₹ 32.00 Cr. 30,238,325 ₹ 695.48 Cr. 21.73x
HNI2 (>10 LAKH) 2,882,835 ₹ 66.31 Cr. 91,084,695 ₹ 2094.95 Cr. 31.60x
RETAIL 9,739,923 ₹ 224.02 Cr. 63,286,275 ₹ 1455.58 Cr. 6.50x
Total 19,579,846 327,031,315 16.70x
Category Book Size Subscription No. of Times
QIB 5,565,670 ₹ 128.01 Cr. 142,422,020 ₹ 3275.71 Cr. 25.59x
HNI (<10 LAKH) 1,391,418 ₹ 32.00 Cr. 30,238,325 ₹ 695.48 Cr. 21.73x
HNI2 (>10 LAKH) 2,882,835 ₹ 66.31 Cr. 91,084,695 ₹ 2094.95 Cr. 31.60x
RETAIL 9,739,923 ₹ 224.02 Cr. 63,286,275 ₹ 1455.58 Cr. 6.50x
Total 19,579,846 327,031,315 16.70x

*Excluding Anchor

Total No. of Application Approx : ~830337 (5.54 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • 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.

Read More


Competitive Strength 

  • Long-standing relationships with established customers, with potential to expand the customer base;
  • Among the key manufacturers in the fast-growing RAC and SDA manufacturing industries;
  • Advanced vertically integrated manufacturing operations with product portfolio aimed at capturing the full spectrum of the RAC and SDA value chain;
  • Robust product development and design optimisation capabilities; 
  • Experienced Promoters supported by senior management team with proven track record of performance.

Business Strategies 

  • Expanding the existing product portfolio, including the RAC and SDA components product portfolio;
  • Continue to drive operational efficiencies through expansion of the integrated manufacturing capabilities and continued investment in the R&D infrastructure; 
  • Increase wallet share with existing customers and continued focus to expand the customer base; 
  • Further explore initiatives to strengthen control over the supply chain.

Company Promoters

Bajrang Bothra is the Chairman and Whole-time Director of the company. Laxmi Pat Bothra is a Non-Executive Director of the company. Sanjay Singhania is a Whole-time Director of the company. Ajay DD Singhania is the Managing Director and Chief Executive Officer of the Company. Nikhil Mohta is the Nominee Director. Vibhav Niren Parikh is a nominee of Augusta Investments Zero Pte. Ltd. and a Non-Executive Director of the Company. Jyotin Mehta is an Independent Director of the company. Kailas

Company Financials

EPACK Durable Limited's revenue increased by 66.09% and profit after tax (PAT) rose by 83.39% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 30 Sep 2023 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 1,071.45 1,464.16 1,076.68 520.37
Revenue 616.32 1,540.25 927.34 739.66
Profit After Tax 2.65 31.97 17.43 7.80
Net Worth 478.31 313.62 121.87 68.91
Reserves and Surplus        
Total Borrowing 369.57 492.45 383.98 238.56
Amount in ? Crore

Objects of the Issue

The company proposes to utilize the net Proceeds from the Fresh Issue towards funding the following objects:

  1. Funding capital expenditure for the expansion/setting up of manufacturing facilities;
  2. Repayment and/or prepayment, in part or in full, of certain outstanding loans of the company;
  3. General corporate purposes.

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

Check Allotment