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EPW India IPO
Price Band
₹95.0–97.0
Issue Size
₹31.81 Cr
Lot Size
1,200 shares
Min Investment
₹232,800
2 LOTS MIN
GMP
+₹2.5 (2.58%)
Issue Price
₹97.0
Subject to Sauda
₹2300
Paid only if allotted
EPW India IPO AI Summary
- EPW India IPO is listed on NSE SME in the Computers Hardware & Equipments sector.
- Price band: ₹95.0–₹97.0 per share, lot size 1,200 shares (min. investment ₹232,800, 2 lots minimum).
- Subscription window: 22 Dec–24 Dec 2025, listing on 30 Dec 2025.
- Current GMP is +₹2.5 (2.58%), an estimated listing price of ₹100 — unofficial and can change daily.
EPW India is set to launch its IPO with an issue price of ₹97.0, targeting a total issue size of ₹31.81 Cr. The company focuses on the refurbishment of IT electronics, catering to both B2B and B2C markets, and has shown significant growth in revenue and profit in recent years.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
EPW India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 24 Dec 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
EPW India IPO Grey Market Premium (GMP) Today
GMP
+₹2.5
GMP %
+2.58%
Est. Listing
₹99.5
Updated: 25 Jul 2026 14:15
About the Company
EPW India is an IT electronics refurbishing company providing affordable refurbished laptops, desktops, Chromebooks, monitors, and accessories through both B2B and direct-to-consumer channels. The company procure laptops, desktops, Chromebook, and peripherals, refurbishing them to new condition, and reselling them directly to end use customers. With a 4,500 sq. ft. in-house refurbishment facility and a skilled team of 32 technicians, it ensures every product goes through a 15–20 day process of testing, repair, cleaning, and software installation before sale. The company is committed to delivering reliable, sustainable, and cost-effective IT products. In FY 2025, It generated 54.29% of revenue from B2C segment and remaining 45.20% from B2B sales. Competitive Strengths Wide Range of Products Experienced Team of Individuals Reliable Warranty Service Multiple Sales Channels Experienced Promoter and Management Expertise
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 42.49 | 26.55 | 8.10 | 6.25 |
| Total Income | 44.04 | 53.34 | 18.55 | 6.66 |
| Profit After Tax | 4.02 | 4.33 | 0.74 | 0.06 |
| EBITDA | 6.37 | 6.21 | 1.03 | 0.11 |
| NET Worth | 9.23 | 5.28 | 0.95 | 0.21 |
| Reserves and Surplus | 5.13 | 5.18 | 0.85 | 0.11 |
| Total Borrowing | 16.96 | 12.25 | 0.23 | 0.58 |
Key Ratios
EPS
₹5.28
NAV
₹6.44
ROE
139.17%
ROCE
35.03%
RoNW
82.06%
P/B Value
15.06
P/E Ratio
18.36
Market Cap
₹111.35 Cr
PAT Margin
8.13%
Debt/Equity
2.32
Peer Comparison
| Company | NAV | RoNW | EPS Basic | EPS Diluted | P/E (x) |
|---|---|---|---|---|---|
| Cerebra Integrated Technologies Limited | 12.05 | -16.27% | -2.12 | -2.12 | — |
| Newjaisa Technologies Limited | 19.49 | -7.04% | -2.77 | -2.77 | — |
| Gng Electronics Limited | 43.76 | 3.6% | 1.58 | 1.58 | 63.99 |
| EPW India Ltd. This IPO | 10.39 | 41.19% | 4.28 | 4.28 | — |
Promoters
Yousuf Uddin, Mohd.Fasi Uddin and Mohd.Zaki Uddin
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To meet working capital requirements 15.85 2 Repayment of banking facilities availed by the company 8.50 3 General Corporate Purposes 3.65 4 Issue Expenses 3.81 Total 31.81
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹6.66 Cr in the year ending 31 Mar 2023, rising to ₹18.55 Cr by 31 Mar 2024. It further increased to ₹53.34 Cr in the year ending 31 Mar 2025, though this is a 6-month figure, not a full year, so isn't directly comparable. As of 30 Sep 2025, total income was ₹44.04 Cr.
Profit Trend
Profit After Tax was ₹0.06 Cr for the year ending 31 Mar 2023, increasing to ₹0.74 Cr by 31 Mar 2024. It rose to ₹4.33 Cr in the year ending 31 Mar 2025, though this is a 6-month figure, not a full year, so isn't directly comparable. As of 30 Sep 2025, profit after tax was ₹4.02 Cr.
Valuation
At the issue price of ₹97.0, EPW India has an implied P/E ratio of 18.36 based on its EPS of ₹5.28, while peers are trading at a P/E range of approximately 63.99. This implies that EPW India is priced at roughly 18.36 trailing earnings, versus peers trading at 63.99.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium of the IPO share price over its issue price in the grey market. A positive GMP suggests that the shares may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's business model and financial health before making a decision.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO. Those who are not comfortable with the uncertainties associated with new market entrants should also consider other investment options.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the listing day, compared to the issue price. However, these gains are not guaranteed and can be influenced by market conditions and investor sentiment on the listing day.
This evaluation is generated from EPW India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is EPW India IPO GMP today?
EPW India IPO GMP today is +₹2.5 (2.58%), indicating an estimated listing price of ₹100. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of EPW India IPO?
The price band of EPW India IPO is ₹95.0–₹97.0 per share.
When does EPW India IPO open and close?
EPW India IPO opens on 22 December 2025 and closes on 24 December 2025.
When does EPW India IPO list on the stock exchange?
EPW India IPO listed on 30 December 2025 at ₹99.5.
What is the lot size for EPW India IPO?
The lot size for EPW India IPO is 1200 shares, requiring a minimum investment of ₹232,800 (2 lots).
What is the lot size for this IPO?
The lot size for EPW India's IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required is ₹232,800.
What is the price band for the IPO?
The price band for the IPO is ₹95.0 to ₹97.0.
When does the IPO open and close?
The IPO opens on 22 December 2025 and closes on 24 December 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the IPO share price over its issue price in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
22 Dec 2025
Close
24 Dec 2025
Allotment
26 Dec 2025
Listing
30 Dec 2025
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