About
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 Stock Quote & Charts
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 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 Timetable
- IPO OpenMon, Dec 22, 2025
- IPO CloseWed, Dec 24, 2025
- AllotmentFri, Dec 26, 2025
- RefundMon, Dec 29, 2025
- Credit of SharesMon, Dec 29, 2025
- ListingTue, Dec 30, 2025
IPO Reservation
EPW India IPO offers total 32,79,600 shares. Out of which 15,55,200 (47.42%) allocated to QIB, 6,22,800 (18.99%) allocated to QIB (Ex- Anchor), 4,68,000 (14.27%) allocated to
NII
10,92,000 (33.30%) allocated to RII and 9,32,400 (28.43%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| 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%) |
IPO Lot Size
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 |
IPO Anchor Investors
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 |
About EPW India Ltd.
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
- Wide Range of Products
- Experienced Team of Individuals
- Reliable Warranty Service
- Multiple Sales Channels
- Experienced Promoter and Management Expertise
Company Financials (Restated Consolidated)
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 | ||||
IPO Objects of the Issue
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 |
Key Performance Indicator (KPI)
| 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 Rs | 5.28 | 7.01 |
| P/E (x) | 18.36 | 13.84 |
| Promoter Holding | 100% | 71.43% |
| Market Cap | ₹111.35 Cr. |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
IPO Review
EPW India IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
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.
IPO Expenses
| # | 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 |
Listing Day Trading Information
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹97.00 |
| Open | ₹111.00 |
| Low | ₹111.00 |
| High | ₹116.55 |
| Last Trade | ₹116.55 |
Check IPO Performance…
IPO Registrar
Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- Visit Website
IPO Lead Manager(s)
- GetFive Advisors Pvt.Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- 79934 39988
- compliance@epwindia.com
- Visit Website
IPO FAQs
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 the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘EPW India IPO‘ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- Submit IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
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.
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