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Euro Panel’s SME IPO on NSE Emerge Opens Yesterday

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Euro Panel Products Limited – the flagship of Eurobond is one of the leading manufacturers of Aluminium Composite Panels (ACP) was incorporated as a private limited company in the name of “Archer Trading House Private Limited” under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated December 18, 2013 bearing Corporate Identification Number U51101MH2013PTC251176 issued by the Registrar of Companies, Maharashtra, Mumbai.

Subsequently, the name of the company was changed to “Euro Panel Products Private Limited” pursuant to the special resolution passed by the Shareholders of the Company at the Extra-Ordinary General Meeting held on August 18, 2014. Companies’ esteemed clients include Hyundai, Adani, Mahindra, K Raheja Corp, Indian Oil Corp. Ltd., Bharat Petroleum, and so on.

The company has opened its Initial Public Offering (“IPO”). It is an IPO of 65,00,000 equity shares of face value of ₹ 10.00/- each of Euro Panel Products Limited (“Euro”or “the Company” or the “Issuer”) for cash at a price of ₹ 70.00/- per equity share (the “Issue Price”), (including a premium of ₹ 60.00/- per equity share), aggregating ₹ 4,515.00 lakhs (“The Issue”), of which 5,00,000 equity shares of face value of ₹ 10.00/- each for cash at a price of ₹ 63.00*/- per equity share aggregating to ₹ 315.00 lakhs will be reserved for subscription by eligible employees (other than promoter and promoter group) of the issuer (the “Employees Reservation Portion”) and 3,28,000 Equity Shares of face value of ₹ 10.00/- each for cash at a price of ₹ 70.00/- per equity share aggregating ₹ 229.60 lakhs will be reserved for subscription by the Market Maker to the Issue (the “Market Maker Reservation Portion”). The Issue less market maker reservation portion i.e. Issue of 56,72,000 equity shares of face value of ₹ 10.00 each for cash at a price of ₹ 70.00/- per equity share, aggregating to ₹ 3,970.40 lakhs is hereinafter referred to as the “Net Issue”. The Issue and the net issue size will constitute 26.53 % and 25.19 % respectively of the post issue paid up equity share capital of the company. These equity shares are proposed to be listed on EMERGE Platform of National Stock Exchange of India Limited (“NSE EMERGE”). For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited (“NSE”).

 

Type of Offer No. of Shares Offer Size Offer Structure Price (Per Equity) Face Value First Application Size Furthermore Applications
Fixed Price Issue ₹ 65 Lakhs ₹ 4,515 Lakhs Fresh Issue ₹ 70 (including 60.00 as premium) ₹ 10 (Per Equity) 2000 Equity Shares Multiplication of 2000 Equity Shares

 

*The company in consultation with the Lead Manager to this issue, have offered a discount of ₹ 7.00/- per equity share to eligible employees.

This IPO being fixed price issue, the price per equity share is been fixed at ₹ 70.00/- per equity share (including the premium of ₹ 60.00/- per equity share) of face value of ₹ 10.00/- each and the minimum application size is 2,000 equity shares and in multiple of 2,000 equity shares thereafter and for which Pre-Issue Advertisement has been advertised in all editions of Financial Express (English National Newspaper), Jansatta (Hindi National Newspaper) and in Pratahakal (Marathi) (Marathi Daily Newspaper), Marathi being the Regional Language of Maharashtra, where the registered office is situated.

About Euro, The Company

Euro Panel Products Limited manufactures Aluminium Composite Panels (ACP) under its flagship brand “EUROBOND”. Eurobond is among the top 5 brands of ACP in India, with 19 years of Goodwill.

Presence

With its manufacturing unit in Umargaon, Gujarat and head office in Mumbai, the Company is present across India through its 9 Depots, 80 Distributors, more than 5000 retail touch points and 133 pax strong sales team. The Company exports to many countries worldwide, including USA.

To know more, visit here: https://www.eurobondacp.com/

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