EPACK Durable IPO Fully Booked Day 2, Strong Demand

 EPACK Durable IPO Fully Booked Day 2, Strong Demand

EPACK Durable IPO fully booked on day 2 on strong retail, NII interest; GMP steady

 Here are the key details on EPACK Durable's IPO subscription status:

• EPACK Durable's Rs 200 crore IPO has seen robust demand, with the issue getting fully subscribed on the second day of bidding.

• As of end of day 2, the issue has been subscribed 3.25 times so far, primarily backed by strong retail and institutional investor interest.

• Retail portion has been subscribed 13.25 times while the Non-institutional investors section has seen 3.32 times subscription.

• The qualified institutional buyers portion has been subscribed just about 17% so far.

• The company already raised Rs 60 crore from 15 anchor investors on January 20 by allocating 40.95 lakh shares at upper end of price band of Rs 57.

• According to market observers, EPACK Durable IPO grey market premium (GMP) has remained steady and ranges between ₹25 to ₹30 per share.

The packaging solutions provider now aims to utilize the IPO proceeds towards funding working capital requirements and general corporate purposes. The finalization of share allotment is likely on January 31, 2022.