Upcoming IPO Details: Euro Pratik, a leading company in the decorative wall panel industry, has filed a draft paper with market regulator SEBI for approval to issue an initial public offering (IPO) of Rs 730 crore.
According to the draft red herring prospectus (DRHP) filed on January 20, the IPO is entirely an offer for sale (OFS) by the promoters. This includes membership reservation for eligible employees.
According to Technopack report, Euro Pratik is the leading company in India's decorative wall panel industry, holding about 16 percent market share in terms of revenue in the organized sector.
Over the years, it has developed a product range for both residential and commercial, sold primarily under its flagship brands “Euro Symbol” and “Glorio”.
The company works on an asset-light model. It outsources manufacturing to contract partners in South Korea, China and the USA.
During the six months ending September 2024, the company collaborated with 26 contract manufacturers from these countries.
In FY2024, Euro Symbol started exports to six countries including Singapore, UAE, Australia, Bangladesh, Burkina Faso and Nepal.
Over the past three years, the company has grown its operations through acquisitions, consolidating businesses and diversifying its products and offerings.
Major acquisitions include Vogue Decor, Euro Symbol Laminate LLP, Millennium Decor, Europatric Intex LLP and Euro Symbol USA, LLC, which have significantly expanded its portfolio and geographic reach.
For marketing, the company has partnered with celebrities Hrithik Roshan and Kareena Kapoor Khan as brand ambassadors for its “Euro Symbol” and “Glorio” brands.
In FY2024, the company's consolidated revenue from operations stood at Rs 222 crore and profit after tax at Rs 63 crore.
Axis Capital and DAM Capital Advisors are the book-running lead managers of the issue. It is proposed to list the equity shares on National Stock Exchange of India Limited and BSE Limited.
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