EPW India IPO Summary
EPW India Limited has filed for its initial public offering (IPO) scheduled to open on 22 December 2025 and close on 24 December 2025. The issue is slated to list on the NSE SME (Emerge) platform and is a 100% fresh issue of equity shares, aimed at strengthening business operations and supporting growth plans.
Key IPO Details
- Issue Type: 100% Fresh Issue
- Price Band: ₹95 – ₹97 per share
- Face Value: ₹5 per share
- Total Issue Size: ₹31.16 – ₹31.81 crore (approx)
- Total Shares Offered: ~32,79,600 equity shares
- Lot Size: 1,200 shares
- Minimum Retail Investment: ~₹1,16,400 at lower band (₹95)
- Listing Platform: NSE SME (Emerge)
- IPO Opening: 22 Dec 2025
- IPO Closing: 24 Dec 2025
- Allotment Finalisation: ~26 Dec 2025
- Refund Initiation: ~29 Dec 2025
- Tentative Listing Date: 30 Dec 2025
Company Background
EPW India Limited was incorporated in April 2021 and operates in the electronics refurbishment and e-waste management ecosystem. The company provides refurbishment, resale, and lifecycle management of used IT and electronic equipment, integrating collection, segregation, dismantling, recycling, and responsible disposal of e-waste — a sector driven by rising electronics consumption and regulatory frameworks like Extended Producer Responsibility (EPR). (The Tribune)
EPW India aims to formalise a largely unorganised e-waste sector by offering compliant, traceable, and quality-assured refurbished electronics, including warranties for enterprise clients. Their operations span collection networks, refurbishment facilities, and distribution channels catering to corporate and institutional customers where data security and environmental compliance are key concerns. (Lokmat Times)
Financial Snapshot
As per the latest available filings and press releases:
📌 FY25 Financials (Standalone)
- Revenue: ₹51.88 crore (₹5,187.54 lakhs)
- EBITDA: ₹5.93 crore (₹592.70 lakhs)
- Profit After Tax (PAT): ₹4.13 crore (₹413.25 lakhs)
📌 H1 FY25 (Standalone)
- Revenue: ~₹3,836.13 lakhs
- EBITDA: ~₹561.32 lakhs
- PAT: ~₹350.98 lakhs
These figures demonstrate substantial revenue and profit growth, reflecting an expanding market for refurbished electronics and e-waste services.
Use of IPO Proceeds
According to the IPO prospectus, the company intends to use the funds primarily for:
- Working capital requirements (~₹15.85 crore) to support operations
- Repayment of banking facilities (~₹8.50 crore) to strengthen the balance sheet
- General corporate purposes including supporting business growth initiatives.
GMP Status (Grey Market Premium)
As of now, grey market premium (GMP) for EPW India IPO has started being reported, though exact values may fluctuate with investor sentiment and subscription response. GMP trackers indicate live updates are available, showing premium indications over the cut-off price (₹97), suggesting expectations of some listing gain — but precise official figures vary by source and session.
📌 Note: GMP is an unofficial indicator of listing expectations and not a guaranteed listing price. It changes rapidly based on demand, market conditions, and final subscription status.
IPO Analysis
Strengths
- Growth in a structural market: India’s electronics consumption is rising rapidly, increasing demand for organized refurbishment and responsible e-waste handling.
- Regulatory tailwinds: The Extended Producer Responsibility (EPR) framework and environmental norms support formal players.
- Profitability trajectory: EPW India has shown meaningful profit growth alongside revenue expansion.
- Focus on compliance and quality: Emphasis on authorized operations and data security differentiates it from many unorganized competitors.
Risks & Challenges
- SME IPO Risk: SME platform stocks generally have lower liquidity and higher volatility compared to mainboard issues.
- Working Capital Intensive: The business depends on efficient and capital-intensive supply chains (sourcing used electronics and managing refurbishment cycles).
- Supply Chain Dependence: Disruptions in inbound used equipment supply can affect operations and revenues.
- Competition: Larger IT asset disposition and recycling players may exert pricing or operational pressure.
Investment Insights
Short-Term Trading Perspective
- A positive GMP may indicate expectations of listing gains, but SME IPOs can be unpredictable on debut.
- Watching subscription levels — especially retail and institutional bids — around the close dates (24 Dec) will provide clearer signals.
Long-Term Holding View
- The company’s positioning in a regulated, sustainability-oriented segment could appeal to investors seeking exposure to circular economy stocks.
- Strong profitability trends suggest EPW India can scale if infrastructure and compliance remain priorities.
📌 Advisory Note: Investment decisions should consider individual risk profiles, liquidity needs, and consultation with licensed financial professionals.
Conclusion
The EPW India IPO — opening 22–24 December 2025 with a price band of ₹95–97 — offers an opportunity to invest in a growing player in electronics refurbishment and e-waste management. With consistent financial growth, regulatory tailwinds, and a focus on environmental compliance, the company presents a compelling long-term thematic. However, SME IPO dynamics, working capital intensity, and operational challenges moderate the risk-reward profile. Prospective investors should evaluate fundamentals, subscription trends, and market conditions before applying.
Disclaimer: This article is informational and does not constitute financial advice. Consult licensed advisors before making investment decisions.
