February 18, 2024
EPACK Durable IPO Subscription Extended Amidst Market Holiday
Finance Stock Markets

EPACK Durable IPO Subscription Extended Amidst Market Holiday

EPACK Durable IPO Subscription Extended Amidst Market Holiday/Company website

EPACK Durable IPO Subscription Extended Amidst Market Holiday

In light of the stock market holiday declared on Monday for Ayodhya Ram Mandir ‘Pran Pratishtha’ celebrations, the subscription date for the EPACK Durable Limited IPO has been extended. Initially set from 19th to 23rd January 2024, the new deadline for investors to apply for the public issue is now the evening of 24th January 2024.

Positive Grey Market Sentiment

Following the extension, the grey market sentiment towards the EPACK Durable IPO has turned positive. Market observers report that the EPACK Durable share price is currently trading at a premium of ₹31 in the grey market.

Analyst Recommendations for Long-Term Investment

Arihant Capital suggests that EPACK Durable, holding a 24% market share in domestically manufactured units by ODM in FY23, is well-positioned for growth. The IPO proceeds of INR 2,300mn are earmarked for capacity expansion, potentially leading to incremental business. They recommend a “Subscribe for Long Term” stance.

BP Equities echoes a positive sentiment, highlighting the company’s robust financial performance with significant growth in revenue, EBITDA, and PAT during the FY2021-23 period. They consider the issue fairly valued and suggest a “Subscribe” rating from a medium to long-term perspective.

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