Strong Debut: Euro Pratik Sales Lists at a Premium, Exceeding Grey Market Expectations
DSIJ Intelligence-1Categories: IPO, Mindshare, Trending
The company's shares started trading at Rs 272.10 on the NSE, marking a premium of 10.16 per cent over the issue price of Rs 247. On the BSE, the listing was even stronger at Rs 273.45, a premium of 10.71 per cent.
Euro Pratik Sales, a prominent player in the decorative wall panels and laminates industry, made a solid stock market debut today, with its shares listing at a premium over the IPO price. The company's public issue, which was an offer-for-sale (OFS) by its promoters, saw a healthy subscription from a diverse range of investors.
The company's shares started trading at Rs 272.10 on the NSE, marking a premium of 10.16 per cent over the issue price of Rs 247. On the BSE, the listing was even stronger at Rs 273.45, a premium of 10.71 per cent. This positive reception on the exchanges surpassed the earlier grey market premium (GMP) trend, which had suggested a more modest listing premium of around 4 per cent. The strong listing translated into significant gains for investors, with those who received the minimum lot of 60 shares making a profit of Rs 16,326.
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IPO Details at a Glance
The Rs 451.39 crore IPO, which was open from September 16 to September 18, was a pure Offer for Sale (OFS). This means that the company itself did not receive any proceeds from the issue, as the funds went directly to the selling promoters. The IPO comprised 1.83 crore shares, with a price band of Rs 235 to Rs 247 per share.
The public issue was subscribed to 1.41 times overall, with the employee quota showing the strongest demand at 4.09 times subscription. Retail investors subscribed to their portion 1.31 times, non-institutional investors bid 2.02 times, and qualified institutional buyers subscribed 1.10 times. Ahead of the IPO, Euro Pratik Sales had also raised Rs 134.97 crore from anchor investors.
About the Company
Founded in 2010, Euro Pratik Sales specialises in the sale and marketing of decorative solutions for residential and commercial spaces. The company is known for its wide range of products, including decorative wall panels and laminates, and holds a market share of 15.87% in the organised decorative wall panels segment. With over 30 product categories and more than 3,000 designs, the company operates on an asset-light model, outsourcing its manufacturing while focusing on design and distribution. Its products are sold under the brands 'Euro Pratik' and 'Gloirio'.