Bookbuilding IPO | ₹32 Cr | Listed at NSE SME | Mon, Dec 22, 2025 - Wed, Dec 24, 2025
EPW India IPO is a book build issue of ₹31.81 crores. The issue is entirely a fresh issue of 0.33 crore shares of ₹31.81 crore.
EPW India IPO bidding started from Dec 22, 2025 and ended on Dec 24, 2025. The allotment for EPW India IPO was finalized on Dec 26, 2025. The shares got listed on NSE SME on Dec 30, 2025.
EPW India IPO price band is set at ₹97 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,32,800 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,49,200.
GetFive Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is SMC Global Securities Ltd..
Refer to EPW India IPO RHP for detailed Information.
IPO Open
Mon, Dec 22, 2025
IPO Close
Wed, Dec 24, 2025
Issue Price
₹97 per share
Market Cap (Pre-IPO)
₹111.35 Cr
| 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 only |
| 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 SMC Global Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 31,15,200 shares (agg. up to ₹30 Cr) |
| 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 |
EPW India IPO comprises a total issue size of 32,79,600 shares. The net offer to the public is 31,15,200 shares, after excluding 1,64,400 shares allotted on a firm basis. Of the Net offer 15,55,200 (49.92%) are allocated to QIB, 4,68,000 (15.02%) allocated to NII 10,92,000 (35.05%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 15,55,200 | 49.92% | 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 | 15.02% | 14.27% |
| − bNII > ₹10L | 3,12,000 | 9.51% | |
| − sNII < ₹10L | 1,56,000 | 4.76% | |
| Retail Shares Offered | 10,92,000 | 35.05% | 33.30% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,64,400 | 5.01% | |
| Total Shares Offered | 32,79,600 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| 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 |
EPW India IPO raises ₹9.04 crore from anchor investors. EPW India IPO Anchor bid date is December 19, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Dec 19, 2025 |
| Shares Offered | 9,32,400 |
| Anchor Portion (₹ Cr.) | 9.04 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jan 24, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Mar 25, 2026 |
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
EPW India Ltd.'s revenue increased by 188% and profit after tax (PAT) rose by 485% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 42.49 | 26.55 | 8.10 | 6.25 |
| Total Income | 44.04 | 53.34 | 18.55 | 6.66 |
| Profit After Tax | 4.02 | 4.33 | 0.74 | 0.06 |
| EBITDA | 6.37 | 6.21 | 1.03 | 0.11 |
| NET Worth | 9.23 | 5.28 | 0.95 | 0.21 |
| Reserves and Surplus | 5.13 | 5.18 | 0.85 | 0.11 |
| Total Borrowing | 16.96 | 12.25 | 0.23 | 0.58 |
| Amount in ₹ Crore | ||||
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 |
| KPI | Mar 31, 2025 |
|---|---|
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.28 | 7.01 |
| P/E (x) | 18.36 | 13.84 |
| Promoter Holding | 100% | 71.43% |
| Market Cap | ₹111.35 Cr. |
The EPW India IPO is subscribed 1.32 times on December 24, 2025 6:20:01 PM (Day 3). The public issue subscribed 1.31 times in the individual investors category, 1.17 times in the QIB category, and 1.53 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.17 | 6,22,800 | 7,26,000 | 2 |
| NII* | 1.53 | 4,68,000 | 7,17,600 | 119 |
| bNII (bids above ₹10L) | 0.98 | 3,12,000 | 3,07,200 | |
| sNII (bids below ₹10L) | 2.63 | 1,56,000 | 4,10,400 | |
| Individual Investor | 1.31 | 10,92,000 | 14,28,000 | 595 |
| Total | 1.32 | 21,82,800 | 28,71,600 | 716 |
Total Application : 716
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager fees | 0.35 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.05 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.04 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.01 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.09 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses) | 3.26 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹97.00 |
| Open | ₹111.00 |
| Low | ₹111.00 |
| High | ₹116.55 |
| Last Trade | ₹116.55 |
Lead Manager Reports
EPW India IPO is a SME IPO of 32,79,600 equity shares of the face value of ₹5 aggregating up to ₹32 Crores. The issue is priced at ₹97 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Dec 22, 2025, and closes on Wed, Dec 24, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in EPW India IPO using UPI as a payment gateway. Zerodha customers can apply in EPW India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in EPW India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The EPW India IPO opens on Mon, Dec 22, 2025 and closes on Wed, Dec 24, 2025.
EPW India IPO lot size is 1200, and the minimum amount required for application is ₹2,32,800, with 2 lots being the minimum application size.
You can apply in EPW India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for EPW India IPO will be done on Friday, December 26, 2025, and the allotted shares will be credited to your demat account by Mon, Dec 29, 2025. Check the EPW India IPO allotment status.
The EPW India IPO listing date is on Tue, Dec 30, 2025.
