EPW India IPO
EPW India Limited · IT Refurbished Electronics
- Issue price
- ₹97per share
- Issue size
- ₹31.81 Cr32,79,600 shares
- Face value
- ₹5per equity share
- Lot size
- 1,200 sharesMin. ₹1.16 L at the upper price
- Anchor biddingFri, 2025
- OpensMon, 2025
- ClosesWed, 2025
- AllotmentMon, 2025Refunds and Demat credit same day
- ListingTue, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 32,79,600 shares (₹31.81 Cr)
- Offer for sale
- None
- Total issue
- 32,79,600 shares (₹31.81 Cr)
- Market maker portion
- 1,64,400 shares
- Face value
- ₹5
- Listing at
- NSE Emerge
- Promoter holding
- 100.00% → 71.42%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail33.3%
- Anchor28.4%
- QIB ex-anchor19.0%
- NII14.3%
- Market maker5.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 10,92,000 | 35.05% | 35% |
| Non-institutional investors (NII) | 4,68,000 | 15.02% | 15% |
| Qualified institutional buyers (QIB) | 15,55,200 | 49.92% | 50% |
| QIB, excluding anchor | 6,22,800 | 19.99% | — |
| Anchor investors | 9,32,400 | 29.93% | — |
| Market maker | 1,64,400 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹97 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 2 | 2,400 | ₹2.33 L |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
Six months ended Sep 30, 2025 (standalone, not annualised), pre-issue- EPS (basic)
- ₹4.28
- P/E (Sep 30, 2025 (standalone, at issue price basis))
- 22.66×
- RoNW (Six months ended Sep 30, 2025 (standalone))
- 41.19%
- NAV per share (As on Sep 30, 2025 (standalone))
- ₹10.39
- NAV per share (After the issue (standalone))
- ₹35.13
- Debt to equity (Six months ended Sep 30, 2025 (standalone KPI))
- 1.98
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Sep 20256 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 44.03 | 53.31 | 18.53 | 6.66 |
| Total income | 44.04 | 53.34 | 18.55 | 6.66 |
| EBITDA | 6.37 | 6.21 | 1.03 | 0.11 |
| Profit after tax | 4.02 | 4.33 | 0.74 | 0.06 |
| Net worth | 9.23 | 5.28 | 0.95 | 0.21 |
| Reserves and surplus | 5.13 | 5.18 | 0.85 | 0.11 |
| Total assets | 42.49 | 26.55 | 8.03 | 6.24 |
| Total borrowing | 16.96 | 12.25 | 0.23 | 0.58 |
FY 2024-25 vs FY 2023-24: revenue +187.7%, profit after tax +485.1%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company refurbishes used IT assets such as laptops, desktops, Chromebooks and peripherals and resells them to businesses and retail customers. It sells through its own physical shops and its website, and also runs a business-to-business channel.
- Incorporated
- 2021
- Industry
- IT Refurbished Electronics
- Sector
- Internet and E-commerce
- CIN
- U95111TG2021PLC150671
- Website
- epwindia.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Yousuf Uddin | Promoter | 38.00% | 27.14% |
| Mohd Zaki Uddin | Promoter | 29.00% | 20.72% |
| Mohd Fasi Uddin | Promoter | 29.00% | 20.72% |
| Fateema Jabeen | Promoter group | 1.00% | 0.71% |
| Ayesha Fathima | Promoter group | 1.00% | 0.71% |
| Saba Begum | Promoter group | 1.00% | 0.71% |
| Mujeeb Sultana | Promoter group | 1.00% | 0.71% |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding working capital requirements | 15.85 |
| Repayment of banking facilities availed by the company | 8.50 |
| General corporate purposes | 3.65 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| EPW India LimitedIssuer | ₹4.28 | 22.66× | 41.19% | ₹10.39 |
| GNG Electronics Limited | ₹1.58 | 63.99× | 3.60% | ₹43.76 |
| Newjaisa Technologies Limited | -₹2.77 | — | -7.04% | ₹19.49 |
| Cerebra Integrated Technologies Limited | -₹2.12 | — | -16.27% | ₹12.05 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Sells refurbished IT products at prices lower than new equivalents, using a reverse supply chain for used IT assets.
- Operates both B2B and B2C sales channels.
- Sells through its own physical shops as well as a website.
- Revenue and profit have grown significantly over the periods presented.
- Promoters have been with the company since incorporation and have over 15 years of experience in the business line.
Risks
- The company relies on bank and non-bank borrowings, with total borrowings of about ₹1,695.52 lakhs (consolidated) as on September 30, 2025.
- Working capital needs are large, with inventories and receivables rising sharply in recent periods.
- Promoters hold most of the shares and will continue to hold a majority after the issue.
- There has been no prior public market for the shares, so the trading price after listing is uncertain.
- A few peers are loss-making, and the company's comparison with peers is limited because few directly comparable listed companies exist.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹97) appear here after the shares list on NSE Emerge.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the EPW India IPO open and close?
According to the Prospectus, the issue opens on Monday, 22 December 2025 and closes on Wednesday, 24 December 2025.
What is the EPW India IPO price band?
The final issue price is ₹97 per share.
What is the lot size of the EPW India IPO?
One lot is 1,200 shares, which is ₹1.16 L at ₹97 per share.
Where will EPW India shares list?
On NSE Emerge. The tentative listing date is Tuesday, 30 December 2025.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How do I check the EPW India IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 29 December 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (Bigshare Services Private Limited). Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹15.85 Cr for funding working capital requirements, ₹8.5 Cr for repayment of banking facilities availed by the company, ₹3.65 Cr for general corporate purposes.
Related IPOs
More internet and e-commerce IPOs
All Internet and E-commerce IPOs →Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.