Ahmedabad: EPACK Durable Limited (“EPACK” or the “Company”), shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Friday, January 19, 2024. The total offer size of Equity Shares of face value ₹ 10 each aggregating up to ₹ [●] comprises of fresh issue aggregating up to ₹ 4,000 million [₹ 400 crore ] (“Fresh Issue”) and offer for sale of up to 10,437,047 Equity Shares, the company announced in a statement.

The official statement said, “The Anchor Investor Bidding Date shall be Thursday, January 18, 2024. The Bid/Offer will open on Friday, January 19, 2024 for subscription and close on Tuesday, January 23, 2024. The Price Band of the Offer has been fixed at ₹ 218 to ₹ 230 per Equity Share. Bids can be made for a minimum of 65 Equity Shares and in multiples of 65 Equity Shares thereafter.”

“The Company proposes to utilise net proceeds from fresh issue of Equity Shares to funding capital expenditure for the expansion / setting up of manufacturing facilities, repayment and / or prepayment, in part or in full, of certain outstanding loans of our Company and general corporate purpose (the “Objects of Issue”),” the statement added.

The company statement states, “The offer for sale of up to 10,437,047 Equity Shares (“Offered Shares”) comprising 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 by Rajjat Kumar Bothra (collectively, the “Promoter Group Selling Shareholders”), up to 4,630,284 equity shares by India Advantage fund S4 I and up to 631,402 Equity Shares by Dynamic India fund S4 US I (collectively, the “Investor Selling Shareholders”, and together with the Promoter Selling Shareholders and the Promoter Group Selling Shareholders, the “Selling Shareholders”, and such offer for sale of Equity Shares by the Selling Shareholders, “the Offer for Sale”).”

“These Equity Shares are being offered through the red herring prospectus of the Company dated January 12, 2024 filed with the Registrar of Companies, Uttar Pradesh at Kanpur (the “RHP”) and are proposed to be listed on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”), the company stated in press release.

The press statement also states that Axis Capital Limited, DAM Capital Advisors Limited and ICICI Securities Limited are the Book Running Lead Managers to the offer (“BRLMs”).

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