EPW INDIA IPO

EPW INDIA IPO

Snapshot of the Offering

EPW India Limited is set to launch its Initial Public Offering (IPO) from December 22nd to December 24th, 2025, with shares expected to list on December 30th, 2025. This highly anticipated public issue offers investors an opportunity to participate in the growth story of a company at the forefront of the IT electronics refurbishment industry. The price band for the IPO has been fixed at ₹95 to ₹97 per equity share, with a minimum application lot size of 1200 shares, translating to a minimum investment of ₹116400 for retail investors. The total issue size stands at ₹31.81 crore, entirely comprising a fresh issue of shares, signaling the company’s intent to raise capital for its strategic growth initiatives.

Important Dates for Investors

• Opening Date: 22 Dec 2025
• Closing Date: 24 Dec 2025
• UPI Payment Deadline: 24 Dec 2025 (5 PM)
• Allotment Announcement: 26 Dec 2025
• Refund Processing: 29 Dec 2025
• Demat Credit: 29 Dec 2025
• Stock Market Listing: 30 Dec 2025
• Mandate Validity End: 09 Jan 2026
• Anchor Investor Lock-in Release (50%): 25 Jan 2026
• Anchor Investor Lock-in Release (Remaining): 26 Mar 2026

*Dates may be revised as per official updates.

Investors keen on participating in the EPW INDIA IPO should meticulously note these dates. The IPO window is relatively short, closing on December 24th, 2025, with the UPI mandate deadline set for 5 PM on the same day. The subsequent timeline includes the crucial allotment finalization, refund initiation, and share credit to Demat accounts, all culminating in the listing of EPW India shares on the stock exchanges by December 30th, 2025. It is advisable for prospective investors to monitor official announcements for any potential revisions to this schedule.

About EPW India Limited: Pioneering Refurbished IT

Founded on April 16, 2021, and headquartered in Hyderabad, Telangana, EPW India Limited operates in the dynamic IT electronics refurbishment industry. The company was promoted by Mr. Yousuf Uddin, Mr. Mohd Fasi Uddin, and Mr. Mohd Zaki Uddin, who bring extensive hands-on experience in managing and scaling operations within the refurbished electronics segment. EPW India specializes in the procurement, refurbishment, and resale of used IT assets, establishing itself as a key player in the circular economy by extending the lifecycle of electronic devices.

The company’s operations encompass an end-to-end reverse supply chain. This integrated model involves sourcing various used IT assets such as laptops, desktops, Chromebooks, monitors, and peripherals. These items then undergo a meticulous refurbishment process, aiming to restore them to a near-new condition. Once refurbished, these products are distributed to a diverse customer base, serving both business-to-business (B2B) and direct-to-consumer (D2C) segments through a combination of physical retail outlets and robust online channels.

EPW India’s core offerings revolve around providing high-quality refurbished computing devices and accessories at competitive price points, presenting a cost-effective alternative to new products. The business model is strategically designed with an emphasis on cost efficiency, stringent quality control, and faster turnaround cycles, which are critical in the fast-paced electronics market. The company’s integrated refurbishment capabilities, multi-channel sales approach, and unwavering focus on affordability and sustainability position it strongly within the rapidly expanding refurbished electronics market. This commitment not only addresses the growing consumer demand for economical tech solutions but also contributes significantly to environmental sustainability by reducing electronic waste.

IPO Structure and Capital Generation

The EPW India IPO aims to raise a total of ₹31.81 crore. Notably, the entire issue size comprises a fresh issue of equity shares. This indicates that all the funds generated from the IPO will directly flow into the company’s coffers, rather than being used by existing shareholders to sell their stakes. A fresh issue is typically viewed positively by investors as it demonstrates the company’s intention to utilize the capital for business expansion, operational enhancements, and strategic growth initiatives. This financial strategy underscores EPW India’s focus on bolstering its foundational strengths and accelerating its market penetration.

Deployment of IPO Proceeds

The capital raised through the EPW India IPO is earmarked for several strategic purposes designed to strengthen the company’s financial position and fuel its future growth. A significant portion, 44.90% (₹14.28 crore), will be allocated to meet working capital requirements. This is crucial for sustaining day-to-day operations, managing inventory, and supporting the company’s expansion plans, especially given the working capital-intensive nature of the refurbishment business. Another substantial part, 26.70% (₹8.5 crore), is intended for the repayment of existing banking facilities. This move will help reduce the company’s debt burden, improve its financial leverage, and free up cash flows for further investment in the business. The remaining 28.40% (₹9.03 crore) is designated for general corporate purposes, which provides the company with flexibility to address various operational needs, pursue inorganic growth opportunities, or invest in technology upgrades and market development activities as they arise. This well-defined utilization plan reflects a prudent approach to capital management aimed at enhancing shareholder value.

Key Differentiators and Growth Drivers

• Integrated End-to-End IT Refurbishment Model: EPW India boasts a comprehensive reverse supply chain, managing everything from sourcing used IT assets to their refurbishment and final distribution. This integrated approach ensures quality control, cost efficiency, and efficient turnaround times, setting it apart in the market.
• Dual B2B and D2C Sales Channels: The company effectively serves both business clients and individual consumers through its network of physical stores and robust online platforms. This multi-channel strategy broadens its market reach and diversifies its revenue streams, capturing demand from different customer segments.
• Experienced Promoters with Active Involvement: The founding promoters, Yousuf Uddin, Mohd Fasi Uddin, and Mohd Zaki Uddin, possess significant hands-on experience in the refurbished electronics sector. Their active involvement in daily operations provides strong leadership and strategic direction, fostering operational excellence and continuous growth.
• Growing Demand for Affordable and Sustainable Electronics: EPW India benefits from the increasing global awareness and demand for sustainable products, coupled with the desire for cost-effective technology solutions. This market trend creates a significant tailwind for the refurbished electronics industry, offering substantial growth potential for the company.
• Scalable Business with Improving Financial Trends: The company operates a scalable business model that can adapt to increasing demand. Coupled with reported improving revenues and profitability trends, this indicates a strong financial foundation and potential for sustained growth in the future.

Understanding the Investment Risks

• Dependence on Steady Supply of Used IT Assets: EPW India’s business model relies heavily on a consistent and reliable supply of used IT assets. The absence of long-term contracts with suppliers could expose the company to supply chain disruptions or increased procurement costs, impacting its operational efficiency and profitability.
• Exposure to Price Volatility of Components: The refurbishment process requires various components, and their prices can be volatile. Fluctuations in the cost of these components could directly affect the company’s cost of goods sold and overall profit margins, making financial planning more challenging.
• Working Capital-Intensive Operations and External Funding Reliance: The nature of the refurbishment business often requires substantial working capital to manage inventory, repairs, and distribution. A high reliance on external funding to meet these working capital needs could expose the company to interest rate risks and liquidity challenges, particularly during economic downturns.
• Competitive Market Landscape: The refurbished electronics market is highly competitive, featuring both organized and unorganized players. Intense competition could lead to pricing pressures, reduced market share, and difficulties in maintaining profitability if EPW India cannot differentiate itself effectively.
• Regulatory and Compliance Risks: Operating in the electronics sector involves navigating complex regulatory frameworks related to e-waste management, environmental compliance, and import/export regulations. Non-compliance or changes in these regulations could result in significant penalties, operational disruptions, or increased compliance costs.

Live Subscription Status

Subscription statistics based on the latest available information as of December 22, 2025, 05:00 PM:

*GMP figures are unofficial and may vary; exchange data is more reliable.

As of the first day’s close on December 22, 2025, at 5:00 PM, the EPW India IPO has seen a total subscription of 0.21 times. Retail Individual Investors (RII) have subscribed 0.13 times their reserved portion, while Non-Institutional Investors (NII) have shown a subscription of 0.67 times. Qualified Institutional Buyers (QIB) are yet to place bids. These initial figures provide an early indication of investor interest, which typically picks up pace on subsequent days of the IPO. Investors should monitor the official exchange data for the most reliable and up-to-date subscription numbers as the IPO progresses.

Participating in the EPW India IPO

Investors interested in becoming a part of EPW India’s journey in the growing refurbished IT market can participate in this IPO via the official Dhan Kirti IPO platform. Ensure your application is submitted before the subscription window closes on December 24, 2025. Evaluating the company’s fundamentals, market position, and future prospects, alongside understanding the associated risks, is crucial for making informed investment decisions. EPW India presents an opportunity to invest in a company with a strong focus on sustainability and a scalable business model in a niche but expanding sector.