Euro Pratik Sales, the decorative laminates and wall panels company, had made its stock market debut today, September 23. The shares listed at nearly 11% premium. Investors on both BSE and NSE now have access to the stock following a public offering and allotment process that concluded September 19.
Euro Pratik shares opened at Rs 272.10 on the NSE and Rs 273.45 on the BSE, marking a jump of around 11% from the IPO price.
Euro Pratik Sales IPO: Key highlights of the issue
The company’s initial public offering (IPO) ran from September 16 to September 18. Euro Pratik Sales raised Rs 451.31 crore through the fresh issue of 1.83 crore equity shares.
The IPO was priced in the band of Rs 235-247 per share with a lot size of 60 shares. The offering was managed by Axis Capital and DAM Capital Advisors, while MUFG Intime India acted as the registrar.
Euro Pratik Sales IPO: Grey market trends
Ahead of listing, Euro Pratik shares showed an uptick in the grey market premium (GMP). The GMP rose from Rs 1 at the close of the IPO to around Rs 10 -11 per share. This indicated some gains post listing.
Euro Pratik Sales IPO: Subscription details
The IPO received a moderate response from investors, with an overall subscription of 1.34 times. Qualified Institutional Buyers (QIBs) subscribed 1.05 times, Non-Institutional Investors (NIIs) at 1.92 times, and retail investors 1.23 times.
Furthermore, the employee category was subscribed 3.88 times. Nearly 1.17 lakh applications were received in total.
Euro Pratik Sales IPO: Allocation
The IPO allocation reserved shares for various categories. This includes retail investors, NIIs, QIBs, and employees.
Euro Pratik Sales IPO: Company background
The company was founded in 2010. It specialises in design-led decorative wall panels and laminates. Its products are known for their aesthetic appeal and adaptability in modern construction and interior projects.