By Madhu Balaji
Copyright thehindubusinessline
Euro Pratik Sales Ltd’s initial public offering (IPO) has entered last day of bidding with 75 per cent subscription so far. According to exchange data at 10.15 am on September 18, 2025, the IPO received bids for 1.01 crore shares against the 1.34 crore shares on offer.
Subscription status on Day 2
On the Day 2, the IPO received 70 per cent subscription. The non-institutional investors (NIIs) category led with 1.23 times subscription, while the retail individual investor (RIIs) segment saw 71 per cent subscription. The qualified institutional buyer (QIB) portion recorded 26 per cent subscription and the employee portion stood at 2.25 times.
Anchor portion
Ahead of the IPO, the company raised ₹135 crore from anchor investors. About 54.64 lakh equity shares were allotted to investors including 360 One group, Motilal Oswal Mutual Fund (MF), ITI MF, Alchemy Capital Management, Nuvama Wealth, Ashish Kacholia-backed Bengal Finance and Investment, Turnaround Opportunities Fund, at ₹247 per share, aggregating the fund raising to ₹134.97 crore.
IPO details
The ₹451.32 crore public issue is entirely an offer-for-sale by promoters, with no fresh issue component. The price band has been set between ₹235 and ₹247 per share.
Axis Capital and DAM Capital Advisors are acting as the book-running lead managers, and the company’s shares will be listed on both the NSE and BSE.
Business portfolio
Euro Pratik offers a wide range of products for residential and commercial applications, marketed under its flagship brands ‘Euro Pratik’ and ‘Gloirio’. Operating on an asset-light model, the company outsources manufacturing to contract partners in South Korea, China, and the US.
The company’s revenue from operations rose by 28 per cent to ₹284.23 crore in fiscal 2025 and the profit after tax was up nearly 22 per cent to ₹76.44 crore.
Brokerages view
Euro Pratik IPO is viewed by brokerages as a “subscribe” in general, particularly for those wanting long-term exposure. Risk-averse investors might want to wait and see how subscription pans out.
According to HDFC Securities, the key concerns largely stem from its operational dependencies and business risks. The company faces vulnerabilities such as accidents or damage to its warehousing facilities, exposure to exchange rate fluctuations, and a high reliance on its largest contract manufacturer as well as on its top 30 distributors.
The company has also reported negative cash flows from operating activities and engages in related-party transactions, which raise governance concerns.
Published on September 18, 2025
