EPW India IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Dec 22 to Dec 24 2025
Price Band
₹95 - 97
Current GMP
₹111(14.43%)
Subscription
1.32 times
IPO Details
| IPO Date | 22 to 24 Dec, 2025 |
| Listed on | Tue, Dec 30, 2025 |
| Face Value | ₹ 5 per share |
| Price Band | ₹95 to ₹97 |
| Issue Price | ₹97 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 32,79,600 shares (agg. up to ₹ 32 Cr) |
| Reserved for Market Maker | 1,64,400 shares (agg. up to ₹ 2 Cr) SMC Global Securities Ltd. |
| Net Offered to Public | 31,15,200 shares (agg. up to ₹ 30 Cr) |
| Share Holding Pre Issue | 82,00,000 shares |
| Share Holding Post Issue | 1,14,79,600 shares |
| NSE Symbol | EPWINDIA |
| ISIN | INE1KEC01023 |
IPO Date
22 to 24 Dec, 2025
Listed on
Tue, Dec 30, 2025
Face Value
₹ 5 per share
Price Band
₹95 to ₹97
Issue Price
₹97 per share
Lot Size
1,200 Shares
Sale Type
Fresh Capital
Issue Type
Bookbuilding IPO
Listing At
NSE SME
Total Issue Size
32,79,600 shares (agg. up to ₹ 32 Cr)
Reserved for Market Maker
1,64,400 shares (agg. up to ₹ 2 Cr) SMC Global Securities Ltd.
Net Offered to Public
31,15,200 shares (agg. up to ₹ 30 Cr)
Share Holding Pre Issue
82,00,000 shares
Share Holding Post Issue
1,14,79,600 shares
NSE Symbol
EPWINDIA
ISIN
INE1KEC01023
IPO Subscription Details
| Anchor Investors | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 1.17 |
| Non-Institutional Buyers*** | 1.53 |
| bNII (bids above ₹10L) | 0.98 |
| sNII (bids below ₹10L) | 2.63 |
| Individual Investors | 1.31 |
| Total ** | 1.32 |
Anchor Investors
1
Market Maker
1
QIB (Ex Anchor)
1.17
Non-Institutional Buyers***
1.53
bNII (bids above ₹10L)
0.98
sNII (bids below ₹10L)
2.63
Individual Investors
1.31
Total **
1.32
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Dec 2 2, 2025 (Day 1) | 0.00 | 0.67 | 0.84 | 0.34 | 0.13 | 0.21 |
| Dec 2 3, 2025 (Day 2) | 1.17 | 0.47 | 0.45 | 0.52 | 0.30 | 0.58 |
| Dec 2 4, 2025 (Day 3) | 1.17 | 1.53 | 0.98 | 2.63 | 1.31 | 1.32 |
DayDec 2
2, 2025 (Day 1)
QIB (Ex Anchor)0.00
NII*0.67
NII (> ₹10L)0.84
NII (< ₹10L)0.34
Individual Investors0.13
Total0.21
DayDec 2
3, 2025 (Day 2)
QIB (Ex Anchor)1.17
NII*0.47
NII (> ₹10L)0.45
NII (< ₹10L)0.52
Individual Investors0.30
Total0.58
DayDec 2
4, 2025 (Day 3)
QIB (Ex Anchor)1.17
NII*1.53
NII (> ₹10L)0.98
NII (< ₹10L)2.63
Individual Investors1.31
Total1.32
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 30-12-2025 | 97.00 | 2.5(2.58%) | 99.5 |
| 29-12-2025 | 97.00 | 2.5(2.58%) | 99.5 |
| 28-12-2025 | 97.00 | 2.5(2.58%) | 99.5 |
| 27-12-2025 | 97.00 | 2.5(2.58%) | 99.5 |
| 26-12-2025 | 97.00 | 2.5(2.58%) | 99.5 |
| 25-12-2025 | 97.00 | 0(0.00%) | 97 |
| 24-12-2025 | 97.00 | 0(0.00%) | 97 |
| 23-12-2025 | 97.00 | 0(0.00%) | 97 |
| 22-12-2025 | 97.00 | 0(0.00%) | 97 |
| 21-12-2025 | 97.00 | 0(0.00%) | 97 |
| 20-12-2025 | 97.00 | 0(0.00%) | 97 |
| 19-12-2025 | 97.00 | 0(0.00%) | 97 |
| 18-12-2025 | 97.00 | 0(0.00%) | 97 |
| 17-12-2025 | 97.00 | 0(0.00%) | 97 |
Date30-12-2025
Price97.00
GMP2.5(2.58%)
Estimate List Price99.5
Date29-12-2025
Price97.00
GMP2.5(2.58%)
Estimate List Price99.5
Date28-12-2025
Price97.00
GMP2.5(2.58%)
Estimate List Price99.5
Date27-12-2025
Price97.00
GMP2.5(2.58%)
Estimate List Price99.5
Date26-12-2025
Price97.00
GMP2.5(2.58%)
Estimate List Price99.5
Date25-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date24-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date23-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date22-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date21-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date20-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date19-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date18-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
Date17-12-2025
Price97.00
GMP0(0.00%)
Estimate List Price97
IPO Important Dates
| IPO Open | Mon, Dec 22, 2025 |
| IPO Close | Wed, Dec 24, 2025 |
| Allotment | Fri, Dec 26, 2025 |
| Refund | Mon, Dec 29, 2025 |
| Credit of Shares | Mon, Dec 29, 2025 |
| Listing | Tue, Dec 30, 2025 |
IPO Open
Mon, Dec 22, 2025
IPO Close
Wed, Dec 24, 2025
Allotment
Fri, Dec 26, 2025
Refund
Mon, Dec 29, 2025
Credit of Shares
Mon, Dec 29, 2025
Listing
Tue, Dec 30, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,32,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,32,800 |
| S-HNI (Min) | 3 | 3,600 | ₹3,49,200 |
| S-HNI (Max) | 8 | 9,600 | ₹9,31,200 |
| B-HNI (Min) | 9 | 10,800 | ₹10,47,600 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares2,400
Amount₹2,32,800
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares2,400
Amount₹2,32,800
ApplicationS-HNI (Min)
Lots3
Shares3,600
Amount₹3,49,200
ApplicationS-HNI (Max)
Lots8
Shares9,600
Amount₹9,31,200
ApplicationB-HNI (Min)
Lots9
Shares10,800
Amount₹10,47,600
Key Performance Indicator
| ROE | 139.17% |
| ROCE | 35.03% |
| Debt/Equity | 2.32 |
| RoNW | 82.06% |
| PAT Margin | 8.13% |
| EBITDA Margin | 11.64% |
| Price to Book Value | 15.06 |
ROE
139.17%
ROCE
35.03%
Debt/Equity
2.32
RoNW
82.06%
PAT Margin
8.13%
EBITDA Margin
11.64%
Price to Book Value
15.06
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| EPW India Ltd. | 4.28 | 4.28 | 10.39 | 41.19 | ||
| Gng Electronics Limited | 1.58 | 1.58 | 43.76 | 63.99 | 3.60 | 8.07 |
| Newjaisa Technologies Limited | -2.77 | -2.77 | 19.49 | -7.04 | 1.47 | |
| Cerebra Integrated Technologies Limited | -2.12 | -2.12 | 12.05 | -16.27 | 0.67 |
Company NameEPW India Ltd.
EPS (Basic)4.28
EPS (Diluted)4.28
NAV (per share) (Rs)10.39
P/E (x)
RoNW (%)41.19
P/BV Ratio
Company NameGng Electronics Limited
EPS (Basic)1.58
EPS (Diluted)1.58
NAV (per share) (Rs)43.76
P/E (x)63.99
RoNW (%)3.60
P/BV Ratio8.07
Company NameNewjaisa Technologies Limited
EPS (Basic)-2.77
EPS (Diluted)-2.77
NAV (per share) (Rs)19.49
P/E (x)
RoNW (%)-7.04
P/BV Ratio1.47
Company NameCerebra Integrated Technologies Limited
EPS (Basic)-2.12
EPS (Diluted)-2.12
NAV (per share) (Rs)12.05
P/E (x)
RoNW (%)-16.27
P/BV Ratio0.67
IPO Reservation
| Market Maker Shares Offered | 1,64,400 (5.01%) |
| QIB Shares Offered | 15,55,200 (47.42%) |
| − Anchor Investor Shares Offered | 9,32,400 (28.43%) |
| − QIB (Ex. Anchor) Shares Offered | 6,22,800 (18.99%) |
| NII (HNI) Shares Offered | 4,68,000 (14.27%) |
| − bNII > ₹10L | 3,12,000 (9.51%) |
| − sNII < ₹10L | 1,56,000 (4.76%) |
| Retail Shares Offered | 10,92,000 (33.30%) |
| Total Shares Offered | 32,79,600 (100.00%) |
Market Maker Shares Offered
1,64,400 (5.01%)
QIB Shares Offered
15,55,200 (47.42%)
− Anchor Investor Shares Offered
9,32,400 (28.43%)
− QIB (Ex. Anchor) Shares Offered
6,22,800 (18.99%)
NII (HNI) Shares Offered
4,68,000 (14.27%)
− bNII > ₹10L
3,12,000 (9.51%)
− sNII < ₹10L
1,56,000 (4.76%)
Retail Shares Offered
10,92,000 (33.30%)
Total Shares Offered
32,79,600 (100.00%)
Information about company
EPW India is an IT electronics refurbishing company providing affordable refurbished laptops, desktops, Chromebooks, monitors, and accessories through both B2B and direct-to-consumer channels. The company procure laptops, desktops, Chromebook, and peripherals, refurbishing them to new condition, and reselling them directly to end use customers.
With a 4,500 sq. ft. in-house refurbishment facility and a skilled team of 32 technicians, it ensures every product goes through a 15–20 day process of testing, repair, cleaning, and software installation before sale. The company is committed to delivering reliable, sustainable, and cost-effective IT products.
In FY 2025, It generated 54.29% of revenue from B2C segment and remaining 45.20% from B2B sales.
Competitive Strengths
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Meet Working Capital Requirements 15.85 2 Repayment of banking facilities availed by the company 8.50 3 General Corporate Purpose 3.65
Disclaimer
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