EPW India IPO Heads to December 30 Listing with Modest 3% Grey Market Premium
EPW India's ₹31.8 crore NSE SME IPO is set for December 30 listing with a modest 3% grey market premium. The issue, priced at ₹97 per share, achieved 1.32x overall subscription with balanced participation across investor categories. The refurbished IT hardware company reported strong FY25 growth with 188% revenue increase and 485% profit surge year-on-year.
*this image is generated using AI for illustrative purposes only.
EPW India's debut on the NSE SME platform is set for December 30 with market indicators suggesting a measured reception. The grey market premium has settled at approximately 3%, signaling modest investor expectations ahead of the listing day.
IPO Details and Valuation
The public offering comprised a fresh issue worth ₹31.8 crores, with shares priced at ₹97 each. The proceeds are earmarked for working capital requirements, debt repayment, and general corporate purposes. At the upper price band, the company achieved a pre-IPO market capitalization of approximately ₹111 crores.
| Parameter: | Details |
|---|---|
| Issue Size: | ₹31.8 crores |
| Share Price: | ₹97 per share |
| Pre-IPO Market Cap: | ₹111 crores |
| Listing Date: | December 30 |
| Platform: | NSE SME |
Subscription Performance
The IPO's subscription data reflects the tempered market sentiment observed in the grey market. While the issue managed to achieve full subscription, the numbers indicate measured investor participation rather than aggressive demand.
| Investor Category: | Subscription Multiple |
|---|---|
| Overall: | 1.32x |
| Retail Investors: | 1.31x |
| Non-Institutional Investors: | 1.53x |
| Qualified Institutional Buyers: | 1.17x |
The absence of significant oversubscription has contributed to the modest grey market premium, with non-institutional investors showing the highest participation at 1.53 times their allocated portion.
Business Operations and Market Position
EPW India operates in the refurbished IT hardware segment, offering laptops, desktops, Chromebooks, and peripherals. The company serves customers through both business-to-business and direct-to-consumer channels, operating an in-house refurbishment facility that positions it as a cost-effective and sustainable option in the competitive IT hardware market.
In FY25, the company's revenue distribution showed 54% contribution from B2C sales, with the remaining 46% generated from enterprise customers. This balanced approach provides diversification across customer segments in the fragmented refurbished hardware market.
Financial Performance
EPW India has demonstrated significant growth momentum in its recent financial performance, though starting from a relatively low base. The company's FY25 results show substantial year-on-year improvements across key metrics.
| Financial Metric: | FY25 Growth (YoY) |
|---|---|
| Revenue: | +188% |
| Profit After Tax: | +485% |
The sharp increase in both revenue and profitability indicates the company's expanding market presence and operational efficiency improvements during the fiscal year.
19
