EPack Prefab Technologies, one of the main players in the Prefab Building Solutions segment, on Monday filed a draft red-herring prospectus with capital market regulator SEBI for an Initial Public Offering. This is for a proposed fresh issue of shares for Rs 300 crore and OFS of one crore shares by the promoters according to the DRHP it filed.
Utilisation of IPO Proceeds
Proceeds from the fresh issue will be allocated as follows:
- Rs 101.62 crore for establishing a new manufacturing facility in Ghiloth Industrial Area, Alwar, Rajasthan.
- Rs 58.10 crore for expanding the Mambattu, Andhra Pradesh, facility to increase pre-engineered steel building capacity.
- Rs 70 crore for debt repayment.
- The remaining funds will be used for general corporate purposes.
Company Overview
Incorporated in 1999, EPack Pre-fab Technologies manufactures PEB items and provides designing, fabricating, and installation services for projects under commercial, industrial, and institutional categories. It has three manufacturing facilities located at Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh). The company also has design centres at Noida (Uptar Pradesh), Hyderabad (Telangana), and Visakhapatnam (Andhra Pradesh).
As of September 30, 2024, the order book stood at Rs 658.54 crore while pending orders in its book stand at Rs 655 crore. Driven by new contract wins and improving realisation, EPack’s revenue from operations jumped 38% to Rs 905 crore during the FY24 period as compared to Rs 657 crore during the previous fiscal. It further recorded a strong uptick in profit that surged to Rs 43 crore for the year ending FY24, against Rs 24 crore during the corresponding period last year.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the lead managers for the IPO while KFin Technologies is the registrar to the issue.
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Source: Moneycontrol
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