EPW India IPO
EPW India Ltd. is launching a Book-Built SME IPO of Rs. 31.81 crore, entirely a fresh issue of 32,79,600 equity shares.
The IPO opens on December 22, 2025 and closes on December 24, 2025.
The allotment is expected on December 26, 2025, and the tentative listing on December 30, 2025, on NSE SME.
The price band is Rs. 95 to Rs. 97 per share.
The lot size is 1,200 shares.
As the minimum retail application requires 2 lots (2,400 shares), minimum retail investment is Rs. 2,32,800 at upper price.
Lead Manager: GetFive Advisors Pvt. Ltd.
Registrar: Bigshare Services Pvt. Ltd.
🕗 Last Update: 17 December 2025, 6.00 AM
👉 GMP | Reviews | Subscription | Allotment
👉 Chanakya Grey Market Intelligence – 8 PM Edition | News Crux |
👉 Power Calls | Breakout Stocks | Coffee Can Portfolio |
IPO Details
| Particulars | Details |
|---|---|
| IPO Dates | Dec 22, 2025 – Dec 24, 2025 |
| Listing | NSE SME |
| Face Value | Rs. 5 per share |
| Price Band | Rs. 95 to Rs. 97 |
| Lot Size | 1,200 shares |
| Issue Size | 32,79,600 shares (Rs. 31.81 Cr) |
| Fresh Issue | Entirely Fresh |
| Market Maker Portion | 1,64,400 shares (Rs. 1.59 Cr) |
| Net Offer to Public | 31,15,200 shares (Rs. 30.22 Cr) |
| Pre-Issue Shares | 82,00,000 |
| Post-Issue Shares | 1,14,79,600 |
| Market Cap (Pre-IPO) | Rs. 111.35 Cr |
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Open | Mon, Dec 22, 2025 |
| IPO Close | Wed, Dec 24, 2025 |
| Allotment | Fri, Dec 26, 2025 |
| Refunds | Mon, Dec 29, 2025 |
| Shares in Demat | Mon, Dec 29, 2025 |
| Listing Date | Tue, Dec 30, 2025 |
| UPI Cut-off | 5 PM, Dec 24, 2025 |
Reservation Structure
| Investor Category | Shares |
|---|---|
| Market Maker | 1,64,400 |
| QIB | Not more than 50% |
| NII (HNI) | Not less than 15% |
| Retail | Not less than 35% |
IPO Lot Size
| Category | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min–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 |
Company Financials (Rs. in Crore)
| Period | 30-Jun-25 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Assets | 36.76 | 27.20 | 8.10 | 6.25 |
| Total Income | 21.99 | 53.34 | 18.55 | 6.66 |
| PAT | 1.94 | 4.33 | 0.74 | 0.06 |
| EBITDA | 3.04 | 6.21 | 1.03 | 0.11 |
| Net Worth | 7.14 | 5.28 | 0.95 | 0.21 |
| Borrowings | 18.15 | 12.25 | 0.23 | 0.58 |
Growth Snapshot
Revenue increased by 188% and PAT rose by 485% in FY25 compared to FY24.
Key Performance Indicators (As of FY25)
| KPI | Value |
|---|---|
| ROE | 139.17% |
| ROCE | 35.03% |
| RoNW | 82.06% |
| PAT Margin | 8.13% |
| EBITDA Margin | 11.64% |
| Debt / Equity | 2.32 |
| P/BV | 15.06 |
| EPS (Pre / Post) | Rs. 5.28 / Rs. 6.75 |
| P/E (Pre / Post) | 18.36x / 14.37x |
About the Company
EPW India Ltd. 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 procures used IT hardware, refurbishes them through an in-house process and resells them to end customers.
The company operates a 4,500 sq. ft. refurbishment facility with a team of 32 technicians. Each product undergoes a 15–20 day process involving testing, repair, cleaning and software installation. In FY25, 54.29% of revenue was derived from B2C sales, while 45.20% came from B2B operations.
Competitive Strengths
-
Wide range of refurbished IT products
-
Experienced technical team
-
Reliable warranty and service support
-
Multiple sales channels
-
Experienced promoter and management team
Promoters
Yousuf Uddin, Mohd. Fasi Uddin and Mohd. Zaki Uddin
Company Contact
EPW India Ltd.
Lead Manager (Below Company Address):
GetFive Advisors Pvt. Ltd.
Registrar
Bigshare Services Pvt. Ltd.
📞 +91-22-6263 8200
✉️ ipo@bigshareonline.com
🌐 https://ipo.bigshareonline.com/IPO_Status.html
Chanakya IPO Review (Short)
EPW India has reported strong growth with FY25 revenue up 188% and PAT growth of 485%, driven by rising demand for refurbished IT hardware and increasing B2C contribution. The in-house refurbishment capability and scalable business model are positives, while higher leverage remains a key monitorable.
Chanakya View: Suitable for medium-risk investors. Listing gains will depend on subscription response and overall SME market sentiment.
Quicklinks
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
- Analysis by Kotak Securities
- Market Analysis by HDFC Securities
- Technical Analysis by Kotak Securities
- Technical Analysis by Samco Securities
- Reliance, Target & Stoploss
- Gold Analysis
- FII buy-Sell
- Technical Analysis
- Calls for the Day
- Currency Analysis
Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
