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EPW India IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
EPW India Limited is engaged in the wholesale trading of hardware and software information technology products. The company primarily deals in laptops, desktops, monitors, peripherals, and IT accessories, catering to both B2B and B2C customers. Revenue is generated through volume-based distribution, institutional sales, and retail channels. Operations are spread across domestic markets with an expanding presence in organized IT product distribution.
EPW India, an Book Built Issue, amounting to ₹31.81 Crore,consisting entirely an fresh issue of 0.33 crore shares of ₹31.81 Crore.The subscription period for the EPW India IPO opens on December 22, 2025, and closes on December 24, 2025. The allotment is expected to be finalized on or about Friday, December 26, 2025., and the shares will be listed on the BSE SME with a tentative listing date set on or about Tuesday, December 30, 2025.
The Share Price Band of EPW India IPO is set at ₹95 to ₹97 per share per equity share. The Market Capitalisation of the EPW India at IPO price of ₹97 per equity share will be ₹
111.35 Crores. The lot size of the IPO is 1200 shares. Retail investors are required to invest a minimum of ₹
232,800, 2 lots ( 2400 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
3600 shares), amounting to ₹
349,200.
Getfive Advisors Private Limited are the book running lead manager of the EPW India Ltd. while Bigshare Services Private Limited is the registrar for the issue.The Market Maker of the company is SMC Global Securities Ltd.
EPW India Limited IPO GMP Today
The Grey Market Premium of EPW India IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
EPW India Limited IPO Live Subscription Status Today: Real-Time Update
As of 07:30 PM on 24 December, 2025, the EPW India IPO live subscription status shows that the IPO subscribed 1.32 times on its Final Day of subscription period. Check the EPW India IPO Live Subscription Status Today at NSE.
EPW India Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
EPW India IPO allotment date is 26 December 2025, Friday, EPW India IPO Allotment will be out on 26 December 2025, Friday, and will be live on Registrar Website from the allotment date.
Check Bigshare Services Private Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select EPW India IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of EPW India Limited IPO
EPW India to utilise the Net Proceeds towards the following objects:
1. ₹1584.81 Lakh is required for To Meet Working Capital Requirements
2. ₹850.00 Lakh is required for Repayment of banking facilities availed by the company
3. General Corporate Purpose
Refer to EPW India Limited RHP for more details about the Company.
EPW India Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| December 17, 2025 | N/A | N/A | ₹0(0.0%) | 17 December 2025; 12:25 PM |
| December 17, 2025 | N/A | N/A | ₹0(0.0%) | 18 December 2025; 11:09 AM |
| December 17, 2025 | N/A | N/A | ₹0(0.0%) | 22 December 2025; 11:01 AM |
EPW India IPO Details
| Market Capitalization | ₹111.35 Cr |
| IPO Date | December 22, 2025 to December 24, 2025 |
| Listing Date | December 30, 2025 |
| Face Value | ₹5 Per Share |
| Price Band | ₹95 to ₹97 per share |
| Issue Price | ₹97 per share |
| Employee Discount | NA |
| Lot Size | 1200 Equity Shares |
| Total Issue Size | 32,79,600 Equity Shares (aggregating to ₹31.81 Cr) |
| Fresh Issue | 32,79,600 Equity Shares (aggregating to ₹31.81 Cr) |
| Offer for Sale | NA |
| Issue Type | Book Built Issue |
| Listing At | NSE SME |
| Share holding pre issue | 82,00,000 |
| Share holding post issue | 1,14,79,600 |
| Rating | Avoid |
EPW India IPO Anchor Investors Details
| Bid Date | December 19, 2025 |
| Shares Offered | 9,32,400 |
| Anchor Portion Size (In Cr.) | 9.04 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 25, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 26, 2026 |
EPW India IPO Timeline (Tentative Schedule)
| IPO Open Date | Mon, Dec 22, 2025 |
| IPO Close Date | Wed, Dec 24, 2025 |
| Basis of Allotment | Fri, Dec 26, 2025 |
| Initiation of Refunds | Mon, Dec 29, 2025 |
| Credit of Shares to Demat | Mon, Dec 29, 2025 |
| Listing Date | Tue, Dec 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Dec 24, 2025 |
EPW India IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 1,557,800 | Not less than 50% of the Net Offer |
| Non-Institutional Investor Portion | 467,340 | Not more than 15% of the Net Issue |
| Retail Shares Offered | 1,090,460 | Not more than 35% of the Net Offer |
| Market Maker Portion | 164,400 | - |
EPW India IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 71.43% |
EPW India IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹232,800 |
| Retail (Max) | 2 | 2,400 | ₹232,800 |
| S-HNI (Min) | 3 | 3,600 | ₹349,200 |
| S-HNI (Max) | 8 | 9,600 | ₹931,200 |
| B-HNI (Min) | 9 | 10,800 | ₹1,047,600 |
EPW India IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 6,22,800 | 7,26,000 | 1.17x | 25 December 2025; 10:59 AM |
| Non Institutional Investors(NIIS) | 4,68,000 | 7,17,600 | 1.53x | 25 December 2025; 11:00 AM |
| Retail Individual Investors (RIIs) | 10,92,000 | 14,28,000 | 1.31x | 25 December 2025; 11:00 AM |
| Total | 21,82,800 | 28,71,600 | 1.32x | 25 December 2025; 11:00 AM |
About EPW India Limited
EPW India Limited is engaged in the wholesale trading of hardware and software information technology products. The company primarily deals in laptops, desktops, monitors, peripherals, and IT accessories, catering to both B2B and B2C customers. Revenue is generated through volume-based distribution, institutional sales, and retail channels. Operations are spread across domestic markets with an expanding presence in organized IT product distribution.
Key Clients & Manufacturing / Operational Facilities
The company serves institutional buyers, corporate clients, resellers, and retail consumers through its B2B and B2C channels. EPW India operates from multiple commercial facilities located in Hyderabad and Secunderabad, Telangana, primarily functioning as trading, warehousing, and distribution centers. These facilities enable efficient inventory handling, order processing, and timely dispatch of IT hardware and accessories across customer segments.
Product Portfolio, Order Book & Execution
EPW India’s product portfolio includes laptops, desktops, monitors, and peripherals, which form essential components across the IT hardware lifecycle of clients. These products support installation, usage, upgrades, and replacement cycles. As per FY25 data, laptops and peripherals form the highest volume segments. The company executes orders through structured procurement, inventory-led sales, and quick turnaround distribution, ensuring consistent fulfillment across B2B and B2C channels.
Mergers, Capex & Expansion Plans
The company has one subsidiary, Renavart Recyclers India Private Limited, engaged in e-waste recycling, strengthening sustainability initiatives. EPW India plans to utilize IPO proceeds for working capital requirements and business expansion. Future plans include scaling operations, strengthening distribution infrastructure, and expanding product categories to support revenue growth without heavy manufacturing-led capital expenditure.
Employees & Banker to the Company
As of June 30, 2025, the company had 81 employees. The Banker to the Company is ICICI BANK Limited.
MANAGEMENT & VISION
The management team, led by experienced promoters and professionals, focuses on scalable growth, operational efficiency, and margin expansion. Their near-term vision includes strengthening B2B institutional sales and improving inventory turnover. Long-term targets include geographic expansion and diversification of IT product offerings. Funding for capex and expansion is planned through IPO proceeds, internal accruals, and optimized working capital management, reducing dependency on high-cost borrowings.
INDUSTRY OVERVIEW
EPW India operates within the Indian IT hardware and electronics distribution industry. The Indian IT hardware market is estimated at over USD 20 billion, growing at a CAGR of 8–10%, driven by digital adoption, enterprise IT spending, and replacement demand. Globally, the IT hardware market exceeds USD 1 trillion, with steady growth of 5–6% annually. Key industry leaders include multinational OEMs and large distributors, with strong long-term growth outlook in emerging markets like India.
KEY RISK FACTORS
- Dependence on IT Hardware Demand
Any slowdown in IT spending, enterprise digitization, or consumer electronics demand may adversely affect sales volumes and revenue growth. - Working Capital Intensive Business
High inventory and receivable cycles may strain liquidity and require continuous funding support, impacting cash flows. - Supplier Concentration Risk
Dependence on limited suppliers or OEMs may disrupt product availability and pricing if supply terms change. - Competitive Industry Landscape
The IT distribution market is highly competitive, with pressure on margins from organized players and online platforms. - Technology Obsolescence Risk
Rapid changes in technology may reduce product shelf life, leading to inventory write-downs. - Regulatory & Compliance Risk
Non-compliance with evolving trade, tax, or e-waste regulations may impact operations and increase costs.
KEY STRENGTHS, MOAT & OPPORTUNITIES
- Diversified Product Portfolio
The company offers a wide range of IT hardware products, reducing dependence on a single category. - Balanced B2B and B2C Revenue Mix
A diversified sales channel structure ensures revenue stability across economic cycles. - Strong Distribution & Execution Capability
Efficient warehousing and order execution enable faster delivery and customer satisfaction. - Growing Demand for IT Infrastructure
Increasing digitization, remote work, and enterprise IT upgrades provide strong growth opportunities. - Asset-Light Business Model
Limited manufacturing capex allows scalable growth with controlled capital requirements. - E-Waste Recycling Subsidiary Advantage
The subsidiary strengthens ESG positioning and opens long-term value creation opportunities.
EPW India Limited Financial Information (Restated Consolidated)
Amount in (₹ in Lakhs)
| Period Ended | Sep 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 442.01 | 497.94 | 84.70 | 10.64 |
| Total Assets | 3,867.08 | 2,423.82 | 803.24 | 623.81 |
| Total Borrowings | 1,687.82 | 1,217.55 | 23.16 | 58.26 |
| Fixed Assets | 29.99 | 27.52 | 8.54 | 8.19 |
| Cash | 50.06 | 104.41 | 80.09 | 74.16 |
| Cash flow from operating activities | -435.62 | -1,094.75 | 43.95 | 14.61 |
| Cash flows from investing activities | -7.08 | -52.68 | -2.92 | -4.59 |
| Cash flow from financing activities | 388.36 | 1,171.75 | -35.11 | 58.26 |
| Net Borrowing | 1,637.76 | 1,113.14 | -56.93 | -15.90 |
| Revenue | 3,842.12 | 5,190.22 | 1,855.12 | 666.44 |
| EBITDA | 637.36 | 620.76 | 102.59 | 11.14 |
| PAT | 350.98 | 413.25 | 74.06 | 6.44 |
| PAT Margin | 9.14% | 7.96% | 3.99% | 0.97% |
| EPS | 4.28 | 5.04 | 0.9 | 0.08 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 5.28 |
| EPS Post IPO (Rs.) | 3.60 |
| Adjusted 12M EPS Post IPO (Rs.) | 6.11 |
| P/E Pre IPO | 19.25 |
| P/E Post IPO | 26.95 |
| Adjusted 12M P/E Post IPO | 15.86 |
| ROE | 139.17% |
| ROCE | 35.03% |
| P/BV | 15.06 |
| Debt/Equity | 2.32 |
| RoNW | 82.06% |
| EBITDA Margin | 11.64% |
| PAT Margin | 7.96% |
EPW India Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| EPW India | 3.60 | 26.95 | 139.17% | 35.03% | 15.06 | 2.32 | 82.06% |
| GNG Electronics | 1.58 | 64.50 | 35.3 % | 19.8 % | 7.07 | 0.32 | 3.60% |
| New jaisa Technologies | -2.77 | - | -1.70 % | -0.44 % | 1.47 | 0.18 | -7.04% |
| Cerebra Integrated Technologies | -2.12 | - | -16.9 % | -15.4 % | 0.50 | 0.29 | -16.27% |
EPW India Limited Contact Details
EPW India Limited
Phone: 79934 39988
Email: compliance@epwindia.com
Website: https://epwindia.com
EPW India IPO Registrar and Lead Manager(s)
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Getfive Advisors Private Limited
Phone: 079 - 40300332
Email: investor.grievance@getfive.in
Website: http://www.getfive.in
EPW India IPO Review
EPW India Limited is engaged in the wholesale trading of hardware and software information technology products. The company primarily deals in laptops, desktops, monitors, peripherals, and IT accessories, catering to both B2B and B2C customers. Revenue is generated through volume-based distribution, institutional sales, and retail channels. Operations are spread across domestic markets with an expanding presence in organized IT product distribution.
The Company is led by Promoter, i.e., YOUSUF UDDIN, MOHD FASI UDDIN AND MOHD ZAKI UDDIN
The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
3,842.12 Lakh, ₹
5,190.22 Lakh, ₹
1,855.12 Lakh, and ₹
666.44 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
637.36 Lakh, ₹
620.76 Lakh, ₹
102.59 Lakh, and ₹
11.14 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹
350.98 Lakh, ₹
413.25 Lakh, ₹
74.06 Lakh, and ₹
6.44 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹5.28 and post-issue EPS of ₹3.60 for FY25. The pre-issue P/E ratio is 19.25x,while the post-issue P/E ratio is 26.95x against the Industry P/E ratio is 54.35x The company's ROE for FY25 is 139.17% and RoNW is 82.06% The Annualised EPS is ₹6.11x and P/E is 15.86x. These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of EPW India showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the EPW India Limited IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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