
EPW India IPO
EPW India IPO
Overview
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 opens for subscription on Dec 22, 2025 and closes on Dec 24, 2025. The allotment for the EPW India IPO is expected to be finalized on Dec 26, 2025. EPW India IPO will list on NSE SME with a tentative listing date fixed as Dec 30, 2025. EPW India IPO price band is set at ₹95.00 to ₹97.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,32,800.00 (2,400 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,600 shares), amounting to ₹3,49,200.
Total Shares
32,79,600
Issue Size
₹31.81 Cr
Price Band
₹95 – ₹97
Lot Size
1200 shares
Min. Investment
₹2,32,800
Max. Investment
₹2,32,800
Open Date
22 Dec, 2025
Close Date
24 Dec, 2025
Allotment
26 Dec, 2025
Listing
30 Dec, 2025
Max. Investment
₹2,32,800
Announced
22 Dec, 2025
Opening Date
22 Dec, 2025
Closing Date
24 Dec, 2025
Basis of Allotment
26 Dec, 2025
Initiation of Refunds
29 Dec, 2025
Credit of Shares
29 Dec, 2025
Listing Date
30 Dec, 2025
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About EPW India IPO
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 pro
EPW India IPO Share Price
Issue Breakdown
Shareholding
Dilution: 40.0% increase in shares
EPW India IPO Financial Health
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.
EPW India IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2400 | ₹2,32,800 |
| Individual investors (Retail) (Max) | 2 | 2400 | ₹2,32,800 |
| S-HNI (Min) | 3 | 3600 | ₹3,49,200 |
| S-HNI (Max) | 8 | 9600 | ₹9,31,200 |
| B-HNI (Min) | 9 | 10800 | ₹10,47,600 |
(All values in CR)
EPW India IPO Valuations
KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| 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 |
(All values in CR)
EPW India IPO Strength & Risk
EPW India IPO Strength:
Operates in the refurbished electronics segment, which benefits from rising demand for affordable technology solutions
Demonstrated strong improvement in revenue and profitability in recent periods, indicating business scalability
Focused end-to-end refurbishment model enhances quality control and operational efficiency
Presence across both online and offline sales channels supports wider customer reach
Caters to both business and retail customers, reducing dependence on a single client segment
Warranty support on products helps build customer trust and repeat demand
Listing on the SME platform improves visibility and access to capital markets
EPW India IPO Risk:
Heavy dependence on a limited number of suppliers may impact operations if supply disruptions occur
Business performance can be affected by seasonal demand fluctuations
Regulatory changes related to import and handling of used electronics may increase compliance costs
Lack of a fully established e-waste management system could pose environmental and regulatory challenges
Revenue concentration in specific regions increases exposure to local market risks
Past negative operating cash flows may put pressure on working capital requirements
Limited operating history makes long-term business sustainability harder to assess
Existing debt levels and ongoing legal matters could affect financial stability
EPW India IPO Subscriptions Status
EPW India IPO subscribed 1.32 times. The public issue subscribed 1.31 times in the individual investors category, 1.17 times in QIB (Ex Anchor), and 1.53 times in the NII category by December 24, 2025 5:20:01 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 9,32,400 | 9,32,400 | 9.044 |
| Market Maker | 1.00 | 1,64,400 | 1,64,400 | 1.595 |
| QIB (Ex Anchor) | 1.17 | 6,22,800 | 7,26,000 | 7.042 |
| Non-Institutional Buyers | 1.53 | 4,68,000 | 7,17,600 | 6.961 |
| bNII (bids above ₹10L) | 0.98 | 3,12,000 | 3,07,200 | 2.98 |
| sNII (bids below ₹10L) | 2.63 | 1,56,000 | 4,10,400 | 3.981 |
| Individual Investors | 1.31 | 10,92,000 | 14,27,998 | 13.852 |
| Total | 1.32 | 21,82,800 | 28,71,600 | 27.855 |
EPW India IPO GMP
EPW India SME IPO last GMP is ₹0, last updated Dec 24th 2025 04:58 PM. With the price band of 97.00, EPW India SME IPO's estimated listing price is ₹97 (cap price + today's GMP).The expected percentage gain/loss per share is 0.00%.
Last updated 24 Dec, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 24 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 24 Dec, 2025 |
| 23 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 23 Dec, 2025 |
| 23 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 23 Dec, 2025 |
| 22 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 22 Dec, 2025 |
| 21 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 21 Dec, 2025 |
| 20 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 20 Dec, 2025 |
| 19 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 19 Dec, 2025 |
| 18 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 18 Dec, 2025 |
| 17 Dec, 2025 | 97 | ₹0 | - | ₹97 (0.00%) | - | 17 Dec, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for EPW India IPO
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Open Zerodha, Upstox, Groww, Angel One, or any brokerage app.
Go to IPO Section
Find EPW India IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.