Decorative Wall Panel Maker Euro Pratik Lists At 10% Premium

Euro Pratik Sales got off to a decent start on Tuesday with its shares listing at a 10.1% premium on the benchmark indices. The stock began trading at ₹272.10 on the NSE, compared to the initial public offering (IPO) price of ₹247 per share. It opened at ₹273.45 on the BSE.

At the time of writing, Euro Pratik shares pared the initial gains and were trading at ₹253 on the NSE and ₹253.6 on the BSE.

According to reports, grey market indicators suggested a muted debut, with the premium at just 4%.

IPO Details

The ₹451.31-crore IPO opened for bidding on September 16 and closed on September 18, with the allotment finalised on September 19. The book-built issue was entirely an offer for sale of 1.83 crore equity shares, priced in the range of ₹235 - ₹247 per share.

According to BSE data, the IPO was subscribed 1.34 times overall. Retail investors subscribed 1.23 times, Non-Institutional Investors (NII) 1.92 times, and Qualified Institutional Buyers (QIBs) 1.05 times.

Axis Capital acted as the book-running lead manager, while MUFG Intime India served as the registrar for the issue.

Company Details

Euro Pratik Sales specializes in decorative wall panels and laminates. The company operates on an asset-light model in the decorative wall panel and laminates segment, holding nearly 16% share in the organized wall panels market.

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