New Delhi, Dec 20 (PTI) IT electronics refurbishing company EPW India on Saturday said it has raised Rs 9.04 crore from anchor investors ahead of the launch of its initial share-sale for public subscription.
The company has allotted over 9.32 lakh equity shares to Resonance Opportunities Fund, Universal Golden Fund and Getfive Opportunity Fund – I at an anchor investor price of Rs 97 per share, aggregating to Rs 9.04 crore, the company said in a statement.
The Rs 31.8 crore initial public offering (IPO) will open for public subscription on December 22 and will conclude on December 24. It has fixed a price band at Rs 95-97 per equity share, it added.
The IPO is an entirely fresh issue of up to 32.79 lakh equity shares, valued at Rs 31.81 crore at the upper end of the price band.
The net proceeds from the fresh issue worth Rs 15.85 crore will be used to meet the working capital requirements, Rs 8.50 crore for repayment of debt and the balance for general corporate purposes.
The IPO represents an important corporate milestone and the fund raise is intended to support the company’s future growth and ongoing business operations,” Yousuf Uddin, Promoter, EPW India Ltd, said.
Incorporated in April 2021, EPW India offers integrated services across collection, segregation, dismantling, recycling, and environmentally responsible disposal of electronic waste, catering to corporates, institutions, and authorised channel partners.
On the financial front, the company reported a revenue of Rs 51.87 crore and profit after tax of Rs 4.13 crore in FY 25.
The company’s shares are proposed to be listed on the NSE Emerge platform.
GetFive Advisors Pvt Ltd is the book running lead manager for the IPO. PTI HG MR
