The IPO also consists of an offer for sale of 1,30,67,890 shares by promoters, promoter group entities, and other investors.
Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, Ajay DD Singhania, Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra are the promoter and group entities selling part of their stake in the company.
Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, and Ajay DD Singhania, collectively hold 42.90% in the company. India Advantage Fund and Dynamic India Fund, the two funds managed by ICICI Ventures, will also sell stake in the company.
The company plans to use the fresh proceeds from the IPO to fund capital expansion plans, and repay part of its outstanding debt. Epack Durables is the second largest original design manufacturer (ODM) in the Indian room air conditioner manufacturing market, and had a market share of 29% in terms of volume in fiscal 2023.
Axis Capital, DAM Capital Advisors, and ICICI Securities are the book running lead managers to the issue.
RK Swamy IPO
Chennai-based RK Swamy Ltd has also filed draft prospects with SEBI for an IPO, comprising fresh issue of shares worth Rs 215 crore and an offer for sale of 87,00,000 shares by promoters and institutional investors. The company is one of India’s largest integrated marketing services providers, offering a single-window solution for creative, media, data analytics and market research services.
The company plans to use the Rs 215 crore to invest in IT infrastructure development, setting up customer experience centres, and setting up digital video content production studio. SBICaps, IIFL Securities, and Motilal Oswal Investment Banking are the book running lead managers to the issue.
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