At 3:20 pm today, 57.49 crore bids were received from the market participants out of 24.56 lakh offered.
Retail investors led the demand, submitting 2.47 lakh applications for a total of 24.71 crore shares. Non-Institutional Investors (NIIs) followed with 21,941 applications for nearly 26.41 crore shares.
The Qualified Institutional Buyers (QIBs) had placed 91 applications for 7,92,31,000 shares.
The Rs 43.96 crore IPO opened for subscription on Tuesday and will close on Thursday, with shares expected to be listed on the NSE SME on June 24.
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The offering comprises solely a fresh issue of 34.34 lakh equity shares, with a price band of Rs 125 to Rs 128 per share. Retail investors can apply for a minimum of 1,000 shares per lot, requiring an investment of Rs 1.28 lakh. High-net-worth individuals (HNIs) are required to bid for at least two lots, totaling Rs 2.56 lakh.
About Eppeltone Engineers IPO
The proceeds from the IPO will be allocated to meet working capital requirements (Rs 30 crore), fund capital expenditure for new machinery (Rs 5 crore), and cover general corporate purposes and issue expenses.Expert Global Consultants is the book-running lead manager, while Skyline Financial Services serves as the registrar.
Eppeltone Engineers
Established in 1977 and based in Noida, the company specializes in the manufacturing and supply of a wide range of energy management solutions, such as static and smart meters, watt-hour meters, BPL kits, LED lighting systems, advanced UPS solutions, battery chargers, and equipment for the railway and power sectors.
Its key clients include Indian government agencies, electricity boards, and institutional buyers within the infrastructure sector.
Eppeltone operates a 36,000 sq. ft. manufacturing plant in Greater Noida, with additional units in New Delhi. The company employs 59 permanent staff and is known for its robust research and development capabilities, along with a focus on sustainability in its energy products.
For FY25, the company reported a 57% year-on-year revenue growth, reaching Rs 125.74 crore. Its profit after tax also grew by 38%, amounting to Rs 11.23 crore.
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