IPO GMP Today: Euro Pratik Sales IPO Subscription Begins! Should You Bid? Here’s What IPO GMP Indicates

IPO GMP Today: Maharashtra-based wall panel brands owner Euro Pratik Sales Limited's initial public offering (IPO) opened for subscription on Tuesday, September 16. Its IPO gmp today (grey market premium) showcased no major movement indicating tepid demand for the IPO in the grey market.

Euro Pratik Sales IPO subscription began on Tuesday, September 16 and will conclude on Thursday, September 18. For those who are interested in the recently opened IPO, here are all the details about it.

Euro Pratik Sales IPO GMP Today

The IPO gmp of Euro Pratik Sales stood at Rs 0, according to investorgain.com on Tuesday at 10:00 am. As per the website, there has been no significant movement in the IPO gmp in the last three-four days and same trend is expected till listing date.

Considering its latest IPO gmp, Euro Pratik Sales is estimated to be listed at a price of Rs 247 (which includes cap price and latest GMP). With this, the expected percentage gain or loss per share is 0%, as per investorgain.com.

Euro Pratik Sales IPO Subscription

The issue has been subscribed to around 0.11 times, as per Chittorgarh.com till 10:44 am. Euro Pratik Sales IPO has been subscribed around 0.09 times in the retail category, and 0.31 times in the NII category. However, there was no bidding in QIB category.

Euro Pratik Sales IPO Details

The IPO is a book build issue of Rs 451.31 crores and is an entirely offer for sale of 1.83 crores worth Rs 451 crores. The IPO will be listed on the BSE and NSE, likely on September 23.

The IPO has a fixed price band at Rs 253 to Rs 247 per share. The lot size for an application is 60. The minimum amount for investment required by a retail investor is Rs 14,820 (as per the upper price band). The lot size investment fr SNII is 14 lots, equivalent to 840 shares. And for bNII, the lot size is 68 lots.

Euro Pratik Sales IPO Subscription Begins! Should You Bid?

SBI Securites in its IPO note has recommended investors to 'Subscribe Euro Pratik Sales IPO for long-term.

"At upper price band of Rs 247, the IPO is valued at a P/E multiple of 32.9x on post issue capital. The business operates on an asset light model thus helping it to generate EBITDA margin of 35% plus and ROE of above 30%. While performance was muted in last 3 years due to unfavorable industry supply-demand dynamics, the outlook appears attractive with rising share of organised market," noted SBI Securities in its report.

The company mainly operates in the business of decorative wall panels and decorative laminates industry as a seller and marketer of Decorative Wall Panels and Decorative Laminates.

Considering the strong aspects of the Euro Pratik Sales, it offers a wide range of products in more than thirty categories. Its unique designs, innovative products and various first-to-market wall panel products make it stand out from competitors.

"Based on the company's strong return metrics, extensive distribution network and comprehensive product portfolio, we recommend investors SUBSCRIBE to the issue for long term investment horizon," the report added.

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