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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital expenditure for manufacturing facility expansion
Funding capital expenditure for expanding and setting up new manufacturing facilities.
Repayment or prepayment of borrowings
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General corporate purposes
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(₹ in Crore)
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EPACK Durable Limited, incorporated in 2019 and headquartered in Greater Noida, Uttar Pradesh, is an original design manufacturer (ODM) of room air conditioners. The company manufactures RAC components such as sheet metal parts, injection moulded parts, cross-flow fans and PCBA assemblies, and has backward integrated into small domestic appliances including induction hobs, blenders and water dispensers. As of FY2023 the company ranked as the second largest RAC ODM manufacturer in India by unit volume, with roughly a 29 percent share of ODM production volume, and operated four manufacturing units in Dehradun, Uttarakhand and one in Bhiwadi, Rajasthan, supported by about 734 full time employees. It is promoted by Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania and Ajay DD Singhania, and carries the corporate identification number L74999UP2019PLC116048. Revenue grew sharply from about Rs 739.66 crore in FY2021 to Rs 927.34 crore in FY2022 and Rs 1,540.25 crore in FY2023, tracking strong demand growth in India's room air conditioner market and the company's expanding component and appliance manufacturing base. Its growth strategy centers on scaling ODM capacity for RAC makers and deepening its presence in adjacent small appliance categories. The company's shares listed on the NSE and BSE on 30 January 2024 following a book built public issue.
The anchor tranche was allotted at the Rs 230 upper price band, raising approximately Rs 192 crore, with notable participants including Optimix Wholesale Global Emerging Markets, Integrated Core Strategies (Asia), HDFC Mutual Fund and a group of insurers including SBI Life Insurance and HDFC Life Insurance.
Source: RHP • Analysis provided for informational purposes
Last Updated: 17 July 2026, 5:30 AM
Leading RAC ODM position
The company is the second largest room air conditioner original design manufacturer in India by production volume, with about a 29 percent share of ODM output in FY2023.
Diversified component and appliance base
Beyond RAC components such as sheet metal parts and PCBA assemblies, the company has backward integrated into small domestic appliances like induction hobs and water dispensers, broadening its revenue base.
Strong revenue growth
Revenue more than doubled from about Rs 740 crore in FY2021 to about Rs 1,540 crore in FY2023, reflecting rapid scale-up in RAC ODM demand.
Customer concentration
A significant share of revenue is derived from a small number of large RAC brand customers, so losing or reducing business with any one of them could materially affect revenue.
Seasonal and weather-linked demand
Room air conditioner demand is highly seasonal and sensitive to summer temperatures, which can cause significant swings in quarterly volumes and working capital needs.
Raw material and import dependency
The business depends on the timely supply of key raw materials and imported components, exposing it to input cost inflation and import restriction risk.
EPACK Durable Limited
61-B, Udyog Vihar, Surajpur, Kasna Road, Greater Noida, Gautam Buddha Nagar - 201306, Uttar Pradesh, India
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