EPack Prefab Tech files IPO papers to raise Rs 300 cr via fresh issue

EPack Prefab Technologies has filed draft papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO).

The IPO comprises fresh issues of shares worth Rs 300 crore and an Offer For Sale (OFS) of 1 crore shares by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.  The Greater Noida-based company may consider raising Rs 60 crore in a pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced.

Proceeds from the fresh issue to the extent of Rs 101.62 crore will be used for setting up a new manufacturing facility at Ghiloth Industrial Area at Alwar in Rajasthan; Rs 58.10 crore for expansion of the existing manufacturing facility at Mambattu in Andhra Pradesh for increasing the pre-engineered steel building capacity; Rs 70 crore for payment of debt and a portion will be used for general corporate purposes.

Incorporated in 1999, EPack Prefab Technologies provides Pre-Engineered Building (PEB) solutions, covering design, fabrication, and installation for industries across commercial, industrial, and institutional sectors.

The company operates three manufacturing facilities in Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh) as of December 2024.

It also operates three design centres located in Noida (Uttar Pradesh), Hyderabad (Telangana), and Visakhapatnam (Andhra Pradesh).

As of September 30, 2024, EPack Prefab Technologies reported the net order book of its pre-fab business was Rs 658.54 crore and the pending order book stood at Rs 655 crore.

The company's revenue from operations increased by 38 per cent to Rs 905 crore in fiscal 2024 from Rs 657 crore in the preceding fiscal and profit rose to Rs 43 crore in fiscal 2024 from Rs 24 crore in fiscal 2023.

Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers, while KFin Technologies is the registrar to the issue. 

Nippon India AMC profit up 4% to Rs 295 cr 

Nippon India AMC on Thursday reported a 4 per cent year-on-year (Y-o-Y) rise in net profit in the third quarter (Q3) at Rs 295 crore. The total income rose to Rs 568 crore in Q3 from Rs 485 crore in the same period last year. In a release, the company said its mutual fund offerings registered a 51 per cent Y-o-Y jump in quarterly average assets under management at Rs 5.7 trillion.

- BS reporter