EPACK DURABLE LIMITED FILES DRHP WITH SEBI

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Bhubaneswar: EPACK Durables Limited (“The Company”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”). According to F&S Report, the company is the fastest growing room air conditioner original design manufacturers (“ODM”) based on growth in volume manufactured between Fiscals 2020 and 2023 in India.
The Company plans to raise funds through initial public offerings of equity shares (face value ₹ 10 each). The offer comprises of fresh issue of equity shares aggregating up to ₹ 400 crore (The “Fresh Issue”) and offer for sale up to 13,067,890 equity share by Selling Shareholders (The “Offer for Sale”).
The company proposes to utilize net proceeds from fresh issue towards – 1. Funding capital expenditure for the expansion / setting up of manufacturing facilities; 2. Repayment and / or prepayment, in part or in full, of certain outstanding loans of our Company and 3. General corporate purposes.
The Offer for Sale comprises of – up to 1,172,976 equity shares by Bajrang Bothra, up to 666,798 equity shares by Laxmi Pat Bothra, up to 748,721 equity shares by Sanjay Singhania, up to 748,721 equity shares by Ajay DD Singhania (collectively, the “promoter selling shareholders”), up to 286,351 equity shares by Pinky Ajay Singhania, up to 286,351 equity shares by Preity Singhania, up to 442,905 equity shares by Nikhil Bothra, up to 442,905 equity shares by Nitin Bothra, up to 379,633 equity shares Rajjat Kumar Bothra (collectively, the “promoter group selling shareholders”), up to 72,61,127 equity shares by India advantage fund S4 I and up to 6,31,402 equity shares by Dynamic India fund S4 US I (collectively, the “investor selling shareholders).
The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”)
Axis Capital Limited, DAM Capital Advisors Limited, ICICI Securities Limited are the Book Running Lead Managers to the issue.
Note to the Editor:
About The Company:
EPACK Durables Limited is the fastest growing room air conditioner original design manufacturers (“ODM”) based on growth in volume manufactured between Fiscals 2020 and 2023 in India (Source: F&S Report). Further, the company is the second largest ODM manufacturer in the Indian room air conditioner manufacturing market, with a market share of 29% in terms of volume manufactured in Fiscal 2023 (this does not include the units which are imported as kits and gas filling is done in India). (Source: F&S Report)
EPACK Durables Limited is a customer-centric business driven by a focus on continuing innovation and operational efficiency. Since 2003, it has been on a journey of evolution, where it initially started as an OEM for RAC brands. Driven by company’s focus on product development and innovation, EPACK Durables Limited evolved into an ODM partner for RACs for its customers.
EPACK Durables Limited also identified the opportunity to increase its value addition in its offerings to customers, and accordingly, started manufacturing of various components such as sheet metal, injection moulded, cross flow fans and PCBA components which are actively used in the manufacturing of RACs. In parallel, company capitalised on its existing manufacturing infrastructure to strategically expand its operations in the small domestic appliances (“SDA”) market, particularly considering the seasonality of the demand for RACs, and currently design and manufacture induction cooktops, mixer-grinders, and water dispensers. This evidences company’s continued focus on the backward integration of its operations and diversification of their revenue streams.
EPACK Durables Limited commenced its operations with a single manufacturing unit in Dehradun, Uttarakhand in 2003, and have since expanded its manufacturing operations with Dehradun Unit II, Dehradun Unit III and Dehradun Unit IV, and manufacturing facility at Bhiwadi, Rajasthan. The company is also in the process of setting up a third facility at Sri City, Andhra Pradesh.
EPACK Durables Limited over the course of its business operations established long-standing relationships with several well-known Indian and global customers. Some of its customers for RAC products include Blue Star Limited, Daikin Airconditioning India Private Limited, Carrier Midea India Private Limited, Voltas Limited, Havells India Limited, Haier Appliances (India) Private Limited, Infiniti Retail Limited and Godrej and Boyce Manufacturing Company Limited, and for its SDA products include Bajaj Electricals Limited, BSH Household Appliances Manufacturing Private Limited, and Usha International Limited.


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