Epack Prefab Technologies IPO Day 1: Subscriptions Cross 28% at Market Close

New Delhi, September 24, 2025: The ₹504 crore Initial Public Offering (IPO) of Epack Prefab Technologies Ltd saw a cautious beginning on day one with subscriptions crossing 0.28 times by 4:15 PM.

Founded in 1999, Epack Prefab Technologies Ltd deals in pre-engineered steel structures and prefabricated buildings for the industrial, infrastructure, and commercial markets. The company has three state-of-the-art manufacturing units situated in Greater Noida, Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh). With its strong foothold in India’s rapidly growing prefab construction market, Epack has emerged as one of the most vibrant and fast-growing players in the industry.

Subscription Status on Day 1

The issue received bids for 49.36 lakh shares out of the total 1.77 crore shares, translating to an overall subscription of 28%. The Qualified Institutional Buyers (QIB) segment showed relatively stronger interest, subscribing 0.46 times of their allocation, largely driven by mutual fund applications totalling 22.55 lakh shares. Retail Individual Investors (RIIs) recorded 0.26 times subscription, with 18.49 lakh shares applied at the cut-off price. Non-Institutional Investors (NIIs) exhibited weak demand, subscribing only 0.10 times, with minimal participation across both small and large ticket categories.

Price-Wise Bidding Trends

The pattern of bidding showed the majority of demand was around the lower end of ₹194–200 per share. In the cutoff price, cumulative bids were 18.38 lakh shares, highlighting the risk-averse mood among investors on day one.

Anchor Allocation Pre-IPO

Before the public subscription, the company raised ₹151.20 crore on September 23, 2025, via anchor placement of 74.11 lakh shares on a successful basis. The allocation was made to marquee domestic and international investors like Whiteoak Capital, 360 One Flexicap, AL Mehwar Investments, LC Pharos, Nuvama Funds, Citigroup, and Morgan Stanley. Domestic mutual funds cornered a major portion of the anchor book, subscribing to almost 38 percent of the allotment through six schemes.

Lead Managers and Registrar

IPO is being handled by the Book Running Lead Managers (BRLMs) Monarch Networth Capital Ltd and Mehta Equities Ltd, with KFin Technologies Ltd as the registrar.

Market Outlook

Analysts point out that although Day 1 subscription figures look limited, institutional sentiment in the company’s long-term prospects is evident in mutual fund participation in the anchor round. Market experts feel subscription momentum may increase over the next two days as retail and NII investors consider the company’s growth curve in India’s emerging prefab construction space.

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