EPW India IPO is opening for subscription on December 22, 2025 and will close on December 24, 2025. The allotment is expected to be finalised on December 26, 2025, and the shares are scheduled to list on NSE SME on December 30, 2025.
The IPO is a Book Build Issue with a price band of ₹95 to ₹97 per equity share. EPW India Limited aims to raise around ₹31.81 crore through this public issue, which is entirely a fresh issue of equity shares with a face value of ₹5 each.
As per recent financials, the company has shown strong growth in revenue and profitability. Based on these numbers, long-term investors may consider evaluating this IPO carefully.
Contents
EPW India IPO Key Details
| Particular | Details |
|---|---|
| IPO Open Date | December 22, 2025 |
| IPO Close Date | December 24, 2025 |
| Face Value | ₹5 per equity share |
| IPO Price Band | ₹95 to ₹97 per share |
| Issue Size | Approx ₹31.81 crore |
| Fresh Issue | Approx ₹31.81 crore |
| Issue Type | Book Build Issue |
| Listing Exchange | NSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
EPW India IPO
Open: 22-24 Dec
Issue Size: ₹31.81 Cr.
Objective: Meet working capital needs, repay bank loans, and support business growth.
Exchange: NSE SME
EPW India IPO GMP Today
The GMP for EPW India SME IPO has not started yet, as there is currently no active grey market participation. In the absence of GMP data, it is not possible to assess short-term listing expectations or investor sentiment at this stage. This is common for SME IPOs during the early pre-issue period.
EPW India IPO GMP usually begins to reflect market interest closer to the opening of the issue. Investors are advised to wait for regular updates and observe initial GMP trends once trading starts, as sustained movement will offer better clarity on the expected listing price and overall demand.
EPW India SME IPO GMP Trend Table:
| Date | GMP | Estimated Listing Price | Expected Gain |
|---|---|---|---|
| 21-Dec-2025 | ₹0 | ₹97 | ₹0 (0.00%) |
| 20-Dec-2025 | ₹0 | ₹97 | ₹0 (0.00%) |
| 19-Dec-2025 | ₹0 | ₹97 | ₹0 (0.00%) |
| 18-Dec-2025 | ₹0 | ₹97 | ₹0 (0.00%) |
| 17-Dec-2025 | ₹0 | ₹97 | ₹0 (0.00%) |
Disclaimer: GMP is based on grey market news. We do not trade or recommend trading in the grey market or Subject to Sauda (sub2) rates.
EPW India IPO Review
EPW India IPO comes with a neutral outlook at the current price band. The company has posted strong revenue and profit growth in FY25, but high debt levels and SME segment risks need consideration. Investors with a long-term view and moderate risk appetite may track the company’s execution closely.
EPW India IPO Market Lot Details
The minimum market lot for EPW India IPO is 2,400 shares, requiring a minimum investment of ₹2,32,800.
| Application Category | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹2,32,800 |
| Retail Maximum | 2 | 2,400 | ₹2,32,800 |
| S-HNI Minimum | 3 | 3,600 | ₹3,49,200 |
| S-HNI Maximum | 8 | 9,600 | ₹9,31,200 |
| B-HNI Minimum | 9 | 10,800 | ₹10,47,600 |
IPO Reservation Details
| Investor Category | Shares Offered | Percentage |
|---|---|---|
| Anchor Investors | 9,32,400 | 28.43% |
| QIB (Ex-Anchor) | 6,22,800 | 18.99% |
| NII | 4,68,000 | 14.27% |
| Retail | 10,92,000 | 33.30% |
- Also Read: Admach Systems IPO (23-26 Dec)
EPW India IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | December 22, 2025 |
| IPO Close Date | December 24, 2025 |
| Basis of Allotment | December 26, 2025 |
| Refunds Initiation | December 29, 2025 |
| Credit to Demat Account | December 29, 2025 |
| IPO Listing Date | December 30, 2025 |
| Bidding Cut-off Time | December 24, 2025 – 5 PM |
EPW India IPO Anchor Investors
| Particular | Details |
|---|---|
| Anchor Bidding Date | December 19, 2025 |
| Anchor Investors List | View PDF |
| Shares Offered | 9,32,400 |
| Anchor Issue Size | ₹9.04 crore |
| Lock-in Period (50% – 30 Days) | January 25, 2026 |
| Lock-in Period (50% – 90 Days) | March 26, 2026 |
Promoters and Shareholding Pattern
The promoters of EPW India Limited are Yousuf Uddin, Mohd. Fasi Uddin, and Mohd. Zaki Uddin.
| Particular | Shares | Percentage |
|---|---|---|
| Promoter Holding Pre-Issue | 82,00,000 | 100% |
| Promoter Holding Post-Issue | 1,14,79,600 | 71.43% |
Objects of the Issue
The company plans to utilise the IPO proceeds mainly to support business growth and strengthen its financial position. Around ₹15.85 crore will be used to meet working capital requirements, ₹8.50 crore will be utilised for repayment of existing banking facilities, and the remaining amount will be used for general corporate purposes.
About EPW India Limited
EPW India Limited is an IT electronics refurbishing company engaged in providing affordable refurbished laptops, desktops, Chromebooks, monitors, and related accessories. The company procures used electronic devices, refurbishes them through repair, upgrades, and testing, and then sells them to both B2B and B2C customers.
In FY25, around 54.29% of the company’s revenue came from the B2C segment, while 45.20% was contributed by B2B operations. The company operates a 4,500 sq. ft. in-house refurbishment facility and focuses on quality checks, warranty support, and cost-effective products.
EPW India IPO Financials
Amount in ₹ crore
| Period Ended | Revenue | Expenses | PAT | Assets |
|---|---|---|---|---|
| 2023 | 6.66 | 6.58 | 0.06 | 6.25 |
| 2024 | 18.55 | 17.54 | 0.74 | 8.10 |
| 2025 | 53.34 | 46.16 | 4.33 | 27.20 |
| June 2025 | 21.99 | 16.20 | 1.94 | 36.76 |
EPW India IPO Valuation – FY25
| KPI | Value |
|---|---|
| ROE | 139.17% |
| ROCE | 35.03% |
| EBITDA Margin | 11.64% |
| PAT Margin | 8.13% |
| Debt to Equity | 2.32 |
| EPS (Basic) | ₹5.28 |
| P/E Ratio | Not Available |
| RoNW | 82.06% |
| NAV | ₹6.44 |
Peer Comparison
| Company | EPS | PE Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| GNG Electronics Ltd | 1.92 | 39.14 | 20.64% | 9.30 | 721.93 Cr |
| New Jaisa Technologies Ltd | (0.32) | NA | (1.45)% | 22.06 | 66.45 Cr |
| Cerebra Integrated Tech Ltd | (4.23) | NA | (27.88)% | 15.16 | 35.69 Cr |
IPO Lead Manager
GetFive Advisors Pvt. Ltd.
Company Address
| Particular | Details |
|---|---|
| Company Name | EPW India Limited |
| Address | Shop No. 131 & 132, Ground Floor, C-Block Chenoy Trade Center, Parklane |
| City | Hyderabad, Secunderabad |
| State | Telangana |
| Pincode | 500003 |
| Phone | 79934 39988 |
| compliance@epwindia.com | |
| Website | https://epwindia.com/ |
IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: +91-22-6263-8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
EPW India IPO FAQs
What is EPW India IPO?
EPW India IPO is an NSE SME IPO through which EPW India Limited plans to raise around ₹31.81 crore. The issue is a book-built IPO with a price band of ₹95 to ₹97 per equity share.
Is EPW India IPO a fresh issue or offer for sale?
EPW India IPO is entirely a fresh issue of equity shares. There is no offer for sale component in this IPO.
When will EPW India IPO open and close?
EPW India IPO will open for subscription on December 22, 2025 and will close on December 24, 2025.
What is the price band of EPW India IPO?
The price band for EPW India IPO is fixed at ₹95 to ₹97 per share.
What is the minimum investment required for EPW India IPO?
Retail investors need to apply for a minimum of 2,400 shares, which amounts to an investment of ₹2,32,800.
What is the lot size of EPW India IPO?
The minimum and maximum lot size for retail investors is 2,400 shares.
Who are the promoters of EPW India Limited?
The promoters of EPW India Limited are Yousuf Uddin, Mohd. Fasi Uddin, and Mohd. Zaki Uddin.
How is the EPW India IPO allocation divided among investors?
The IPO allocation is divided as 50% for QIBs, 15% for NIIs, and 35% for retail investors.
What is the EPW India IPO allotment date?
The basis of allotment for EPW India IPO is expected to be finalised on December 26, 2025.
When will EPW India IPO be listed?
EPW India IPO is scheduled to list on NSE SME on December 30, 2025.
How can investors apply for EPW India IPO?
Investors can apply for EPW India IPO through ASBA using net banking, UPI via stock brokers, or by submitting offline application forms through registered brokers.
What is the issue size of EPW India IPO?
The total issue size of EPW India IPO is approximately ₹31.81 crore.
Is EPW India IPO suitable for long-term investment?
EPW India IPO has shown strong revenue and profit growth in recent years. However, as an SME IPO, it carries higher risk. Long-term investors should evaluate financials, debt levels, and business sustainability before investing.
Expert Comment
EPW India Limited has delivered sharp growth in revenue and profits over the last two financial years, which reflects improving business traction. However, the company operates in a competitive refurbishing segment and carries relatively high leverage.
While valuations appear reasonable for an SME issue, investors should consider liquidity risks and business scalability before investing. Long-term investors with higher risk tolerance may track the company’s execution post listing.
