Bangalore : EPACK Durables Limited (“The Company”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”). According to F&S Report, the company is the fastest growing room air conditioner original design manufacturers (“ODM”) based on growth in volume manufactured between Fiscals 2020 and 2023 in India.
The Company plans to raise funds through initial public offerings of equity shares (face value ₹ 10 each). The offer comprises of fresh issue of equity shares aggregating up to ₹ 400 crore (The “Fresh Issue”) and offer for sale up to 13,067,890 equity share by Selling Shareholders (The “Offer for Sale”).
The company proposes to utilize net proceeds from fresh issue towards – 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 our Company and 3. General corporate purposes.
The Offer for Sale comprises of – up to 1,172,976 equity shares by Bajrang Bothra, up to 666,798 equity shares by Laxmi Pat Bothra, up to 748,721 equity shares by Sanjay Singhania, up to 748,721 equity shares by Ajay DD Singhania (collectively, the “promoter selling shareholders”), up to 286,351 equity shares by Pinky Ajay Singhania, up to 286,351 equity shares by Preity Singhania, up to 442,905 equity shares by Nikhil Bothra, up to 442,905 equity shares by Nitin Bothra, up to 379,633 equity shares Rajjat Kumar Bothra (collectively, the “promoter group selling shareholders”), up to 72,61,127 equity shares by India advantage fund S4 I and up to 6,31,402 equity shares by Dynamic India fund S4 US I (collectively, the “investor selling shareholders).
The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”)
Axis Capital Limited, DAM Capital Advisors Limited, ICICI Securities Limited are the Book Running Lead Managers to the issue.
