Shares of Epack Durable, a small company associated with the household appliances industry, have become a rocket. As soon as the market opened, the company’s shares reached Rs 407.60 with an upper circuit of 5 percent. Consumer electronics and home appliances giant Hisense has entered into a strategic manufacturing partnership with Epack Durable Limited. The 52-week high level of shares of Epack Durable is Rs 434. At the same time, the 52-week low level of the company’s shares is Rs 150.95.
Deal to set up manufacturing plant in Sri City, Andhra Pradesh
Hisense has partnered with EPACK Durable Limited (EPACK Durable IPO) to set up a manufacturing plant in Sri City, Andhra Pradesh. This plant will focus on the production of air conditioners (AC) and other home appliances. The production capacity of the Shree City plant is expected to reach 1 million room air conditioners by FY2028. Production in this plant can start from June 2025. With this agreement with Hysense, Epack Durables can earn additional revenue of $ 1 billion in the next 5 years.
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The company’s IPO came 9 months ago at Rs 230.
The IPO of EPACK Durable Limited was opened on 19 January 2024 and it remained open till 24 January. The company’s share price in IPO was Rs 230. Shares of Epack Durable Limited were listed on BSE on January 30, 2024 at Rs 225. On the day of listing itself, the company’s shares fell to Rs 207.70. The IPO of Epack Durable Limited was subscribed a total of 16.79 times. The quota of retail investors in the company’s IPO was subscribed 6.50 times. At the same time, in the non-institutional investors category, bets were placed 29.07 times. The company’s IPO received 25.59 times stake in the Qualified Institutional Buyers (QIB) category.
