EPACK Durable IPO

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Company details

EPACK Durables (EPACK) was incorporated on April 20, 2019. EPACK is the second largest room air conditioner (RAC) original design manufacturer (“ODM”) in India in terms of number of units (indoor units + outdoor units) manufactured in Fiscal 2023 through the ODM route. After initially starting as OEM for RAC brands the company has evolved into an ODM partner for RACs for customers. EPACK also started manufacturing various components for RAC’s as a value addition to its offering. Further the company has strategically diversified in the small domestic appliances (“SDA”) market, particularly considering the seasonality of the demand for RACs.

EPACK designs and manufactures complete RACs including window air conditioners, indoor units, and outdoor units for Split ACs with specifications ranging from 0.75 ton to 2 ton, across energy ratings and types of refrigerants. In SDAs the company currently design and manufacture induction cooktops, mixer-grinders, and water dispensers.

EPACK has the highest amount of backward integration for RACs at a single location, that has been grown within the same company organically in India.

The company has vertically integrated manufacturing facilities at 3 locations at Dehradun- Uttarakhand, Bhiwadi-Rajasthan and Sri City- Andhra Pradesh. Further the company plans to set up two new manufacturing facilities at (i) Salarpur Industrial Area, Bhiwadi, Rajasthan and (ii) Sri City DTZ, Andhra Pradesh.

EPACK has 1 registered patent in India for air conditioner with air sterilisation and has filed for the registration of 2 patents in India, in respect of (i) collar with optimized flared section for joining tubes in coil of heat exchanger, and (ii) air conditioning system having heat exchanger. Further the company has 10 registered designs, including for window air conditioner, mixer, blender, and water dispenser.

EPACK’s customers include 4 of the top 6 RAC brands in the Indian market (in terms of RAC sales in Fiscal 2023 in India). Further, the company has long-standing relationships with several well-known Indian and global customers. The average relationship with RAC customers is 8.7 years and with SDA Customers is 6.3 years.

EPACK is one of the initial Indian RAC ODM companies to manufacture 5 mm copper tubing for the heat exchangers. Additionally, the company is one of the initial Indian RAC ODMs to design and manufacture WACs (both fixed speed and inverter models) with R32 refrigerant. EPACK has a dedicated R&D team comprising of 57 full time employees, as on September 30, 2023.

Log in to the Mirae Asset Sharekhan app and tap the hamburger menu.
Under the EQUITY dropdown option, tap IPO/OFS/BOND to land on the IPO dashboard.
Click on the Current IPO tab and select the IPO of your choice.
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form.
Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well.
Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.

Note: The actual amount will be debited when the shares are allotted to you.

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

Log in to the Mirae Asset Sharekhan website and click the IPO & OTHERS menu option you see on the top-right.
From the list of Active IPOs, select the IPO of your choice
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.

Note: The actual amount will be debited when the shares are allotted to you.

How does an IPO work?

An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.

Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.

In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.

In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).

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EPACK Durable IPO

Company details

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

How does an IPO work?

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