EPW India was incorporated on April 16, 2021. The company is an IT electronics refurbisher that sells refurbished laptops, desktops, Chromebooks, monitors, and accessories through direct-to-consumer and business-to-business channels at lower prices than new products. Its end-to-end reverse supply chain covers procurement of used IT assets, refurbishment to near-new condition, and sales through its own stores and website
| Bidding Dates |
|---|
| 22 Dec 2025 - 24 Dec 2025 |
| Subscription |
|---|
| 1.29x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,28,000 | 2 | 2 | 1200 | 3.3 M | ₹95 - ₹97 | 71.43 % | ₹311.6 M - ₹318.1 M | RHP DOC |
EPW IPO SUBSCRIPTION STATUS
24 Dec '25EPW IPO overall subscription rate was 1.29 times the total available shares
EPW IPO retail subscription rate was 1.74 times in the retail segment
EPW IPO non-institutional investor subscription rate was 2.51 times in the non-institutional investor category
EPW IPO Qualified Institutional Bidder subscription rate was 0.62 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
24 Dec 2025 (Day 3) | 1.74x | 2.51x | 0.62x |
23 Dec 2025 (Day 2) | 0.39x | 1.09x | 0.62x |
22 Dec 2025 (Day 1) | 0.18x | 0.88x | - |
EPW FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 38.4 | 3.5 | -4.4 | -4.4 | 14.6% |
| FY25 | 51.9 | 4.1 | -10.9 | -11.2 | 11.4% |
| FY24 | 18.5 | 0.7 | 0.4 | 0.4 | 5.5% |
| FY23 | 6.7 | 0.1 | 0.1 | 0.1 | 1.7% |
EPW IPO SUBSCRIPTION STATUS DETAILS
EPW had 3.3 M shares on offer
EPW IPO offer price was in the range ₹95 - ₹97
EPW IPO minimum Investment was ₹228000
EPW IPO issue size was ₹ 311.6 M - ₹ 318.1 M
EPW had a minimum lot size of 1200 Shares per application
EPW NUMBER OF SHARES ON OFFER
EPW IPO IMPORTANT DATES
| Issue Open Date | 22 Dec 2025 |
| Issue close Date | 24 Dec 2025 |
| Allotment Date | 26 Dec 2025 |
| Refund Date | 29 Dec 2025 |
| Demat Account Credit Date | 29 Dec 2025 |
| Listing Date | 30 Dec 2025 |
| Listing on Exchange(s) | NSE |
| EPW Allotment Status | Exchange/ Registrar |
EPW IPO subscription opened on 22 Dec 2025, and closed on 24 Dec 2025
IPO allotment for EPW was finalized on Friday, 26 Dec 2025
IPO listing for EPW was on NSE on Tuesday, 30 Dec 2025
EPW IPO LISTING GAINS
| Issue Price (adjusted) | 97.0 |
| Listing Open Price | 111.0 |
| Listing Close Price | 116.5 |
| Listing Gain% | 14.4% |
| Current Gain% | 147.4% |
EPW Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EPW India Ltd. | 240 | 275.5 | 27.4 | 0.2 | 2.7 | 23.7 | 13.9 | 102 | 96.6 | 10.1 | 148.9 | 8.8 | 148.9 |
| GNG Electronics Ltd. | 525.6 | 5993 | 42.1 | 0.3 | 3 | 17.4 | 10.5 | 1895.4 | 33.4 | 132 | 91.8 | 12.5 | 160.6 |
| Control Print Ltd. | 579.2 | 926.4 | 23.8 | -0.4 | 1.9 | 9.8 | 7.5 | 484.2 | 12.2 | 43.6 | -56.4 | 24.4 | -59.8 |
| Bharat Global Developers Ltd. | 87.9 | 889.7 | -10336.5 | 102.8 | 34.1 | -0.1 | 0 | 27.2 | -96 | -0.1 | -100.8 | 0 | -100.5 |
| Panache Digilife Ltd. | 458.6 | 734.3 | 45.4 | 0.3 | 3 | 15.3 | 7.1 | 245.4 | 110.1 | 16.2 | 135 | 10.1 | 135 |
| BCC Fuba India Ltd. | 198 | 392.4 | 47.6 | 0.2 | 4.8 | 12.7 | 7 | 72.7 | 53.8 | 5.8 | 55.8 | 4.2 | 262.2 |
EPW INFORMATION ON IPO ISSUE
About EPW
EPW India was incorporated on April 16, 2021. The company is an IT electronics refurbisher that sells refurbished laptops, desktops, Chromebooks, monitors, and accessories through direct-to-consumer and business-to-business channels at lower prices than new products. Its end-to-end reverse supply chain covers procurement of used IT assets, refurbishment to near-new condition, and sales through its own stores and website
Object of the Issue
- To meet the working capital requirement
- Repayment of banking facilities availed by the company
- General corporate purposes
EPW - PROMOTERS
| Name |
|---|
| Yousuf Uddin |
| Mohd Fasi Uddin |
| Mohd Zaki Uddin |
EPW - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Yousuf Uddin | Managing Director |
| Mohd Fasi Uddin | Whole Time Director |
| Mohd Zaki Uddin | Whole Time Director |
| Musthyala Jaya Sri | Independent Director |
| Nukala Ashwanth | Independent Director |
| Vinod Kumar Narva | Independent Director |
EPW Book Running Lead Manager
Getfive Advisors Private Limited
investor.grievance@getfive.in
EPW Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
EPW Strengths
Diversified product portfolio
The company offers a wide range of refurbished laptops, desktops, Chromebooks, and peripherals from well-known brands to meet the needs of students, professionals, businesses, and budget-conscious customers. By providing options across different features and price points, it serves diverse use cases such as education, office work, gaming, and everyday computing
Warranty service
The company provides a warranty on all refurbished products, offering support or replacements during the warranty period to build customer trust. This after-sales assurance enhances customer satisfaction and supports long-term relationships
Multiple sales channels
The company sells refurbished products through its own retail stores across multiple regions and via its official website, enabling wider customer reach and faster service. This multi-channel approach reduces dependence on any single location and supports stable operations across varying market conditions
EPW Risks
Inventory management risks
The company’s performance depends on effective inventory management and stable prices of refurbishment components, and any misalignment may increase costs and impact profitability and cash flows. Errors in demand forecasting or procurement delays could lead to shortages or excess inventory, adversely affecting revenue and working capital
Environmental & regulatory risks
The company generates e-waste during refurbishment and has not yet established a fully efficient and compliant disposal system, exposing it to environmental and regulatory risks. Limited authorized recycling facilities and reliance on third-party vendors may lead to compliance issues, additional costs, and adverse impacts on profitability and financial performance
Competition
The company operates in a highly competitive IT refurbishment market with both organized and unorganized players. Intense competition on price, product range, service quality, and reputation may limit customer acquisition and retention, adversely affecting growth and financial performance
IPO FAQs
The promoters of the company are Yousuf Uddin, Mohd Fasi Uddin and Mohd Zaki Uddin.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 95.0 - 97.0.
The IPO application opens on Dec 22, 2025 and closes on Dec 24, 2025.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 228,000.0, the maximum value for this IPO is Rs 232,800.0.
This IPO will be allotted on Dec 26, 2025.
The refund will be credited to your account on Dec 29, 2025.
The allotted shares will be credited to your demat on Dec 29, 2025.
EPW India Ltd.’s shares listed on the stock exchanges on Dec 30, 2025.