Grey market indicators ahead of the listing suggested a muted debut, with the premium hovering at just 4%, pointing to limited upside over the IPO price.
The IPO was subscribed 1.41 times overall, with retail investors bidding 1.31 times, non-institutional investors (NII) 2.02 times, and qualified institutional buyers (QIBs) 1.10 times. The employee quota, offered at a discount of ₹13 per share, saw stronger traction and was subscribed more than 4 times.The company had offered shares in a fixed price band of ₹235-₹247 per share in the IPO, which was open for subscription between September 16 and 18.
The ₹451.3 crore issue consisted entirely of an offer-for-sale (OFS) by promoters, meaning Euro Pratik Sales will not receive any proceeds. The objective of the IPO was to provide an exit to promoters and list the company’s equity shares on the stock exchanges.Ahead of the public issue, the company raised ₹134.97 crore from anchor investors. Half of these shares are under a 30-day lock-in until October 19, while the remaining will be locked until December 18.
Company overview
Euro Pratik Sales is among India’s largest organised wall panel brands, with a 10% market share by revenue in FY24 and 15.9% in FY23.
It operates in the decorative wall panel and decorative laminates industry, offering differentiated design templates under its ‘Euro Pratik’ and ‘Gloirio’ brands, aligned with contemporary architectural and interior design trends.
For FY25, the company reported a profit of ₹76 crore, up 21.5% from ₹63 crore a year earlier. Revenue rose 28% to ₹284 crore from ₹221.7 crore. Decorative wall panels contributed 66% of revenue, while decorative laminates accounted for 26%.
Axis Capital and DAM Capital Advisors were the book-running lead managers, while MUFG Intime India acted as the registrar.
