EPACK Durables Limited files DRHP with SEBI for IPO to raise funds for expansion and loan repayment


INDIA: EPACK Durables Limited, the second-largest original design manufacturer (ODM) of room air conditioners in India, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). According to a report by F&S, the company is the fastest-growing ODM based on growth in volume manufactured between Fiscals 2020 and 2023 in India.

The company plans to raise funds through an initial public offering of equity shares, with a face value of INR 10 each. The offer comprises a fresh issue of equity shares aggregating up to INR 400 crore and an offer for the sale of up to 13,067,890 equity shares by selling shareholders.

EPACK Durables Limited intends to use the net proceeds from the fresh issue to fund capital expenditure for the expansion or setting up of manufacturing facilities, repay or prepay certain outstanding loans, and for general corporate purposes.

The offer for sale includes equity shares by promoter selling shareholders, including Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, and Ajay DD Singhania, and equity shares by promoter group selling shareholders, including Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra. The investor-selling shareholders include India Advantage Fund S4 I and Dynamic India Fund S4 US I.

The equity shares offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited. Axis Capital Limited, DAM Capital Advisors Limited, and ICICI Securities Limited are the Book Running Lead Managers to the issue.

EPACK Durables Limited is a customer-centric business driven by a focus on continuing innovation and operational efficiency. The company started as an OEM for RAC brands and evolved into an ODM partner for RACs for its customers. It also manufactures various components such as sheet metal, injection-molded, cross-flow fans, and PCBA components used in the manufacturing of RACs. The company has expanded its operations in the small domestic appliances market and currently designs and manufactures induction cooktops, mixer grinders, and water dispensers.

EPACK Durables Limited established long-standing relationships with several well-known Indian and global customers, including Blue Star Limited, Daikin Airconditioning India Private Limited, Carrier Midea India Private Limited, Voltas Limited, Havells India Limited, Haier Appliances (India) Private Limited, Infiniti Retail Limited, Godrej and Boyce Manufacturing Company Limited, Bajaj Electricals Limited, BSH Household Appliances Manufacturing Private Limited, and Usha International Limited.


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