MUMBAI - Epack Durable has announced the launch of its initial public offering (IPO) with the aim of raising Rs 640.05 crore. The company has set a price range of Rs 218-230 per share for the offering, which commenced on Friday.
Investors have until Monday, January 23, to subscribe to the public issue. Epack Durable is one of four companies that initiated IPOs on the same day, signaling a busy period for the Indian equity markets.
The company has stated that the proceeds from the IPO will be used primarily for debt reduction. This strategic move is expected to improve the company's financial health and potentially support its growth initiatives in the competitive RAC market.
However, Epack Durable's decision to price its shares above the industry average price-to-earnings (P/E) ratios has raised valuation concerns among market watchers. The premium pricing strategy has led to discussions regarding the company's market valuation, with some investors weighing the growth potential against the higher entry price point.
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