EPACK Durable makes weak stock market debut, lists 4% below IPO price

EPACK Durable listing: EPACK Durable made a weak stock market debut on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Tuesday, opening at Rs 221 per share.

The company's shares in the initial public offering (IPO) were priced at Rs 230 per share.

EPACK Durable's IPO was a book-built issue totalling Rs 640.05 crore, which comprised a fresh issue of 1.74 crore shares, amounting to Rs 400 crore, and an offer for sale (OFS) of 1.04 crore shares, valued at Rs 240.05 crore.

The bidding for EPACK Durable IPO commenced on January 19, 2024, and concluded on January 24, 2024. 

Allocation of shares for the IPO was finalised on Thursday, January 25, 2024, with trading commencing on both the BSE and NSE on January 30, 2024.

EPACK Durable's IPO price band was set between Rs218 to Rs230 per share, with a minimum lot size of 65 shares. 

Retail investors were required to invest a minimum of Rs 14,950. For non-institutional investors (NIIs), the minimum lot size investment was set at 14 lots (910 shares), totalling Rs 209,300, while for bidders with a net worth of over Rs 1 crore (bNII), it was 67 lots (4,355 shares), amounting to Rs 1,001,650. 

The weaker-than-expected market debut suggests initial investor sentiment may be cautious regarding EPACK Durable prospects.

As of 10:19 am, shares of EPACK Durable were trading 5.22 per cent lower from IPO price at Rs 218, according to BSE.