EPW India Ltd IPO
Trading
Price Band
₹95 – ₹97
Lot Size
1200
Minimum Bid Quantity
2400
Minimum Investment
₹232800
Issue Size
₹31.81Cr
Opens
2025-12-22
Closes
2025-12-24
Listing
30-12-2025
Subscription Status
Qualified Institutional Buyers
1.17 x
Non-Institutional Investor
1.39 x
Retail Individual Investor
1.22 x
Total
1.25 x
IPO Details
Issue Type
EQUITY
Face Value
₹5
Tick Size
1
ISIN
INE1KEC01023
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
EPW India Limited is an IT and electronics refurbishing company that procures used IT assets, refurbishes them, and sells them through direct-to-consumer (D2C) and business-to-business (B2B) channels. The company’s operations cover an end-to-end reverse supply chain, including sourcing used laptops, desktops, Chromebooks, and peripherals, inspecting and grading devices, securely erasing data, testing hardware, replacing faulty parts, cleaning and restoring units, installing and activating software, and completing quality checks before sale. It sells refurbished laptops, desktops, Chromebooks, monitors, and accessories such as keyboards and mouse through its own shops and its website. The company operates an in-house repair and renewal facility, supported by a team of 32 technicians.
Pros
- • EPW India claims to offer refurbished laptops, desktops, Chromebooks, and peripherals sourced from multiple well-known brands. It states that products span different configurations and price ranges, from basic systems to higher-performance machines, aimed at varied end users, such as students, professionals, businesses, and schools.
- • EPW India states that it provides a one-year limited warranty on eligible refurbished desktops and laptops. It claims the warranty covers manufacturing defects, hardware malfunctions, and non-functionality under normal use, with repair or replacement (with new or refurbished parts of equivalent quality) and a stated turnaround of 7-10 business days, subject to parts availability.
- • EPW India claims to generate revenue through both online and offline channels. It also states that it sells through its own shops in multiple regions and operates through both business-to-business (B2B) and business-to-consumer (B2C) models.
Cons
- • The top 10 suppliers accounted for 56.26% of total IT supply purchases for the period ended September 30, 2025. The company does not have long-term supply agreements, which exposes it to price volatility, supply constraints, and changes in supplier terms, as well as regulatory restrictions on the import of used computers and peripherals. Any adverse changes in supply availability, pricing, or regulations, or the company’s inability to secure supplies in required quantities, quality, or timelines, could negatively impact its operating margins, operational efficiency, and financial condition.
- • EPW India’s demand for refurbished IT products is seasonal, with higher sales during festival periods (around Dussehra, Diwali, Christmas, and New Year) and higher demand from SME clients in February and March. This can cause quarter-to-quarter fluctuations, and results in one period may not reflect trends for the full financial year or be comparable with other periods. Any unforeseen events, such as an economic slowdown, political instability, or epidemic during peak months, could negatively impact its operations and financial condition.
- • EPW India generates e-waste during the refurbishment of used IT products and has not yet established a sustainable, efficient, and effective disposal system. With limited recognised recycling centres in India and significant e-waste handled by the unorganised sector, disposal may depend on third-party vendors whose compliance cannot be fully ensured. Any non-compliance with e-waste handling rules or environmental regulations could lead to additional costs, legal proceedings, and a negative impact on profitability and financial performance.
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