A Company Built on Speed & Scale
Founded in 1999, Epack Prefab Technologies has carved its name as a specialist in prefabricated buildings — cold storage, clean rooms, modular structures, and steel-based prefab solutions. Serving industrial, commercial, and institutional clients across India, the company has become a go-to name in a sector where speed and quality make all the difference.
Its product portfolio spans pre-engineered steel buildings, light gauge steel framing, sandwich insulated panels, and modular prefab units — all solutions that align neatly with India’s infrastructure boom and the government’s push toward quicker, cost-efficient construction.
IPO Structure – Fresh Issue Meets OFS
The ₹504 crore IPO comes as a mix of fresh issue (₹300 crore) and an offer for sale (₹204 crore). The company plans to issue 1.47 crore fresh shares, while existing shareholders will offload 1 crore shares.
Here’s the timeline investors need to note:
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Issue opens: September 24, 2025
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Issue closes: September 26, 2025
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Allotment date: September 29, 2025
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Refund initiation: September 30, 2025
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Listing (tentative): October 1, 2025, on BSE and NSE
Retail investors can bid for a minimum lot of 73 shares (₹14,892), while the maximum retail limit is 13 lots (₹1.93 lakh).
Where the Money Will Go
The company isn’t just raising capital for the sake of liquidity — there’s a clear expansion blueprint:
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₹103 crore to build a new manufacturing facility in Rajasthan.
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₹58 crore to expand capacity at the Andhra Pradesh unit.
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₹70 crore for partial debt repayment.
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The rest is for general corporate purposes.
In short, this IPO isn’t just a cash-out — it’s also about laying the foundation for the company’s next growth chapter.
The Numbers Speak
Epack Prefab has shown steady financial growth:
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Revenue: ₹1,140 crore in FY25 (vs. ₹906 crore in FY24)
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Profit After Tax: ₹59.3 crore in FY25 (vs. ₹42.9 crore in FY24)
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EBITDA: ₹117.8 crore in FY25
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Net Worth: ₹354 crore
The return ratios are healthy, with RoNW at 22.69% and ROCE at 22.88%. Debt remains moderate, with a debt-to-equity ratio of 0.15.
On valuation, with an EPS of ₹7.65 and a P/E ratio of ~26.6x, the stock sits in line with industry peers like Pennar Industries and Interarch Building Solutions, though Everest Industries still lags due to losses.
Strengths That Stand Out
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Reputation: Over two decades as a trusted prefab player.
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Diverse product range: From modular offices to high-tech cold storage.
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Robust clientele: Serving India’s industrial backbone.
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Strong financials: Consistent growth in PAT and EBITDA.
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Attractive return metrics: Stable RoNW and margins.
Weak Spots Investors Must Watch
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Cyclical exposure: Reliant on construction and infra demand.
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High working capital needs: Cash flows can get stretched.
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Raw material risk: Prices of steel and insulation materials affect margins.
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Competition: Both organized giants and unorganized local players crowd the space.
Grey Market Buzz
The IPO is already creating ripples in the grey market. With a GMP of ₹19, traders estimate a listing price near ₹223 — modest but positive upside for early applicants.
Promoters & Management
The company is led by Sanjay Singhania, Ajay DD Singhania, Bajrang Bothra, Laxmi Pat Bothra, and Nikhil Bothra. The pre-issue promoter holding stands at 87.27%, which will be diluted post-listing; however, the exact shareholding structure will depend on the final subscriptions.
The IPO is managed by Monarch Networth Capital Ltd., with Kfin Technologies as registrar.
Verdict: Should You Subscribe?
The Epack Prefab IPO ticks many boxes — strong growth, healthy returns, and expansion-driven objectives. Yet, it’s not without risks. The prefab industry is still highly competitive and cyclical, and margin pressures from raw material costs could bite.
Still, with India’s infrastructure story gaining momentum and prefab solutions increasingly in demand, this IPO carries both growth promise and speculative excitement.
Final word: For investors seeking exposure to India’s construction-tech story, Epack Prefab Technologies IPO could be worth a look — but only with a measured allocation and keeping in mind the sector’s volatility.
Disclaimer: This is not investment advice. Investors must consult their financial advisor before applying.
