Euro Pratik Sales shares make a decent market debut; stock lists at 11% premium

Shares of Euro Pratik Sales made a decent stock market debut on Tuesday, September 23 as the decorative laminates and panel player was listed at Rs 273.45 on BSE, a premium of 10.71 per cent over the issue price of Rs 247 apiece. Similarly, the stock kicked off its maiden trading session with a premium of 10.16 per cent over the given issue price at Rs 272.10 apiece on NSE.

Listing of Euro Pratik Sales has been better than the expectations. Last heard, shares of Euro Pratik sales were commanding a premium of Rs 11 per share in the unofficial market, suggesting a listing pop of 4-5 per cent for the investors. Investors made a profit of Rs 1,587 on each lot of their allotment.

The IPO of Euro Pratik Sales was open for bidding between September 16 and September 18. It had offered its shares in the price band of Rs 235-247 per share with a lot size of 60 shares. The company raised a total of Rs 451.31 crore from its IPO, which was entirely a fresh share sale of 1,82,71,862 equity shares.

The issue was overall subscribed only 1.34 times, fetching nearly 1.17 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 1.05 times. The allocation for non-institutional investors (NIIs) was booked 1.92 times. The portions for retail investors and employees were subscribed 1.23 times and 3.88 times, respectively.

Incorporated in 2010, Euro Pratik Sales is engaged in the business of decorative wall panel and decorative laminates industry as a seller and marketer of Decorative Wall Panels and Decorative Laminates. It creates unique design templates for Decorative Wall Panels and Laminates, aligning with modern architectural trends, and was recognized as an innovator for products.

Brokerage firms mostly had a positive view on this IPO, suggesting to subscribe to it for long term, but saw a muted response. Axis Capital and DAM Capital Advisors were the book running lead managers and MUFG Intime India served as the registrar of the issue. Shares of the company shall be listed on both BSE and NSE.