The Euro Pratik Sales IPO completed its second day of bidding on Wednesday, September 17. So far, investors have subscribed to 70% of it. This particular offer-for-sale (OFS) by promoters aims to raise Rs 451.31 crore.
Euro Pratik Sales IPO subscription status:
On its second day, the issue was 70% subscribed. Specifically, investors bid for 94.56 lakh shares out of the 1.34 crore offered.
Notably, demand was strongest from Non-Institutional Investors (NIIs), who subscribed their portion 1.23 times. In comparison, Retail Individual Investors (RIIs) subscribed 0.71 times. Conversely, Qualified Institutional Buyers (QIBs) subscribed just 0.26 times, according to NSE data.
Breaking down the numbers, QIBs subscribed 10.13 lakh shares of their 38.29 lakh quota. Meanwhile, NIIs bid for 35.36 lakh shares against their 28.71 lakh allotment. Finally, RIIs subscribed 47.45 lakh shares of their 67.00 lakh reserved portion.
IPO details:
To begin with, this book-built issue consists of 1.83 crore shares. The bidding window is open from September 16 to 18. Following this, the company will finalize the allotment on September 19.
The company set the price band at Rs 235 to Rs 247 per share. Additionally, the lot size is 60 shares. As a result, this sets the minimum retail investment at Rs 14,820.
Company overview:
Euro Pratik Sales operates in the decorative wall panels and laminates sector. Financially, its FY25 revenue rose significantly to Rs 284 crore from Rs 222 crore. Furthermore, net profit increased by 21.5% to Rs 77 crore from Rs 63 crore. The EBITDA margin was a healthy 35.7%, while the net profit margin stood at 27%. Moreover, Return on Equity (ROE) was a strong 32.8%, and Return on Capital Employed (ROCE) was an impressive 43.7%.
