Euro Pratik Sales IPO Day 1 Live: Issue subscribed 17% so far. Check GMP, review, subscription status

Euro Pratik Sales IPO Day 1 Live: The initial public offering of Euro Pratik Sales Ltd, a key player in the decorative wall panel sector, is open for subscription from September 16 to September 18. Euro Pratik Sales IPO price band has been set between ₹235 and ₹247 per equity share, with a face value of Re 1.

This public offering consists entirely of a sale of shares worth ₹451.32 crore by the promoters, without any fresh issue component.

Euro Pratik boasts a diverse product portfolio designed for both residential and commercial uses, primarily marketed under its leading brands 'Euro Pratik' and Gloirio.

The company follows an asset-light model, outsourcing its manufacturing to contract partners located in South Korea, China, and the United States. As of March 31, 2025, it has a distribution network covering 116 cities across India, supported by 180 distributors in 25 states and five union territories.

Euro Pratik Sales IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹247 with no premium or discount in the grey market according to investorgain.com.

(Stay tuned for more updates)

As of March 31, 2025, the company offered a wide range of products in India, with over 30 product categories and over 3,000 designs. The company has launched 113 product catalogues (involving a combination of products and designs) in the last 4 years. The company’s range of products competes with wallpaper products and premium wall paints in the Indian market by offering a durable and cost-effective product range. The company’s products are anti-bacterial, antifungal, free from certain heavy metals such as lead and mercury, and are made from recycled and eco-friendly materials, offering greater environmental consciousness than the substitutes in the Indian market, such as wood and paint products.

As of March 31, 2025, the company had a distribution network of 180 distributors across 25 states and 5 union territories in India, which connect it with several Retail Touchpoints.

Euro Pratik Sales IPO subscription status was 13% on day 1. The retail portion was subscribed 11%, and NII portion has been booked 34%, Qualified Institutional Buyers (QIBs) portion is yet to receive bids. The employee portion has been subscribed 34%.

The company has received bids for 17,15,940 shares against 1,34,64,781 shares on offer, at 11:00 IST, according to data on BSE.

According to Swastika Investmart, the company operates in an asset-light model, focusing on decorative wall panels and laminates. Expansion of its dealer network has supported strong growth in both revenue and profitability during FY25.

“Based on its recent financial data, the IPO appears fully priced. The firm functions within a highly competitive and fragmented industry, which may impact margins. The high valuation and operational risks warrant cautious consideration, investors may avoid this ipo,” said the brokerage.

Euro Pratik Sales, which functions as a seller and marketer of decorative wall panels and laminates, generates 66 percent of its business from the decorative wall panels segment, about 26 percent from the decorative laminates division, and the rest from other sources.

The company asserts that it is one of India’s foremost and largest brands in the organised decorative wall panel sector, competing with firms such as Greenlam Industries, Asian Paints, Berger Paints India, and Indigo Paints.

• Expand into new markets.

• Continue to expand distribution network and undertake measures to improve inventory management systems.

• Improve brand equity.

• Focus on product innovation in response to evolving consumer preferences and further expand product portfolio.

• Integrate recent acquisitions and continue to expand the business through strategic inorganic growth opportunities.

• Leverage market position to capitalize on favorable industry trends.

The company operates an asset-light business model with a focus on product design and development. EPSL outsources the manufacturing processes to contract manufacturing partners like Miga, South Korea, who possess the technology and know-how to manufacture the required designs. This helps to minimize the requirement for substantial capital investment in production facilities and equipment.

The Euro Pratik Sales IPO consists entirely of an offer-for-sale (OFS) made by its promoters. As a result, all proceeds from the issue will go to the shareholders selling their stakes, and the company will not benefit financially from the offering.

As per the red herring prospectus (RHP), the company's listed peers are Greenlam Industries (with a P/E of 87.54), Asian Paints (with a P/E of 62.6), Berger Paints India (with a P/E of 55.77), and Indigo Paints (with a P/E of 40.32).

Tentatively, Euro Pratik Sales IPO basis of allotment of shares will be finalised on Friday, September 19 and the company will initiate refunds on Monday, September 22 while the shares will be credited to the demat account of allottees on the same day following refund. Euro Pratik Sales share price is likely to be listed on BSE and NSE on Tuesday, September 23.

Euro Pratik Sales IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of ₹13 per equity share is being offered to eligible employees in the employee reservation portion.

Euro Pratik Sales has raised ₹135 crore from anchor investors prior to the opening of its initial public offering (IPO) for subscription. The participating investors in the anchor round included 360 One group, Motilal Oswal Mutual Fund (MF), ITI MF, Alchemy Capital Management, Nuvama Wealth, Bengal Finance and Investment supported by Ashish Kacholia, Turnaround Opportunities Fund, Neo Asset Management, SB Opportunities Fund II, and PineBridge Investments based in the US, as noted in a circular published on BSE's website.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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