India's precision engineering sector is growing rapidly, with a CAGR of 11% to 14% through 2028. This is driven by advancements in manufacturing, increased exports, and an increased demand for custom automation and tooling solutions. Regional companies that are proficient at making special-purpose machinery and quality control are capturing market share by executing operations economically and establishing strong relationships with customers. EPW India Ltd., a company based in Hyderabad that specialises in precision engineering, is launching its NSE SME IPO (December 22–24, 2025) to raise money for growth in this favourable environment.
EPW India Ltd IPO Details:
EPW India Issue Management:
GetFive Advisors Pvt. Ltd. acts as the book-running lead manager for EPW India SME IPO, managing underwriting and compliance.
EPW India RTA (Registrar) Details:
Bigshare Services Pvt. Ltd. handles allotment, refunds, and demat credits—contact at +91-22-6263 8200 or ipo@bigshareonline.com.
EPW India IPO Allotment Status:
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Note: 50% of shares will be unlocked 30 days after allotment, while the rest will be free from lock-in restrictions after 90 days.
Action Links:
Open a demat account here and apply for the EPW India IPO
EPW India Subscription Status: Check live subscription here
EPW India GMP Update: Check latest grey market premium here
EPW India Ltd. specialises in refurbishing IT electronics. They refurbished laptops, desktops, Chromebooks, monitors, and accessories, and then they restored them to nearly new condition through an intensive 15- to 20-day process. This includes extensive testing, repairs, cleaning, and software installation at its 4,500-square-foot facility with 32 trained technicians on staff. The company sells these sustainable, low-cost products through both B2B and B2C channels, such as websites and physical outlets. They focus on quality control and keeping costs low when compared to new devices.
In FY2025, B2C sales made up 54.29% of revenue, and B2B sales made up 45.71%. This shows that India's refurbished market is growing in a balanced way across multiple channels. EPW is a reliable provider of reliable IT solutions because it has an end-to-end reverse supply chain, quick turnaround times, and a focus on affordability and environmental responsibility.
EPW India SME IPO comprises a fresh issue of ₹31.81 Cr (32.80 lakh shares) aimed at working capital, debt repayment, and growth amid strong FY25 revenue expansion.
EPW India IPO proceeds will be deployed for the following objectives:
EPW India SME IPO reserves shares across key investor categories, with retail at 33.30%, NII (HNI) at 14.27%, QIB at 47.42% (including anchors), and market makers at 5.01%.
EPW India IPO has a dedicated anchor investor portion of 932,400 shares, which is 28.43% of the total issue size.
The anchor bidding date is December 19, 2025 (the day before the IPO opens on Dec 22). For 50% of the anchor allotment, there is a 30-day lock-in period (ending Jan 21, 2026), and for the other 50%, there is a 90-day lock-in period (ending Mar 20, 2026). The anchor allocation document filed right before the issue opens will list the names of specific anchor investors.
EPW India is highly profitable, with a return on equity (ROE) of 139.17%, an EBITDA margin of 11.64%, and a PAT margin of 8.13% for FY25.
At the upper price band of ₹97, it is valued at 13.84x post-IPO P/E and 15.06x P/B, reflecting strong growth with 188% revenue and 485% PAT increase YoY.
The EPW India Ltd IPO presents significant risks and strengths which are listed below:
Strengths
The company has implemented a comprehensive IT refurbishment and established a reverse supply chain.
The company sells its products both in-store and online through various channels.
The management team has a proven track record and extensive experience in operations.
Favourable market trends for refurbished technology.
Risks
Utilise refurbished IT supplies without establishing long-term deals.
Fluctuations in the price of component parts.
The company faces significant challenges due to its high working capital needs and reliance on funding.
There is intense competition among organised and unorganised players.
E-waste regulations and import compliance risks pose significant challenges for the company.
The refurbished IT business has an integrated end-to-end model, two B2B/D2C channels, and experienced promoters. Its value is a reasonable 13.8x FY25 EPS and 15x P/B at the ₹97 upper band. However, there are risks, such as relying on the supply chain without long-term contracts, the prices of parts changing, requiring high working capital, strong competition, and complications with e-waste compliance. These risks could increase the complexity of carrying out work in this emerging sector.
In FY25, EPW India SME IPO showed 188% revenue growth and 485% PAT growth, with a strong 139% ROE, 11.6% EBITDA margin, and 8.1% PAT margin.
EPW India offers strong growth potential in refurbished IT at a reasonable 13.8x P/E amid an 188% revenue surge, but investors should watch supply risks and competition. This analysis is for your information.
Action Links:
Open a demat account here and apply for the EPW India IPO
EPW India Ltd Subscription Status: Check live subscription here
EPW India IPO GMP Update: Check current grey market premium here
1. What is the EPW India IPO size and price band?
EPW India SME IPO totals ₹31.81 Cr with 32.80 lakh shares at ₹95-97 per share (face value ₹5).
2. When does the EPW India IPO open and list?
The EPW India IPO opens on December 22, closes on December 24, 2025, allots on December 26, and is listed on NSE SME on December 30, 2025.
3. What is the EPW India lot size and minimum investment?
Lot size: 2,400 shares (₹2.33 lakh at upper band); retail min ₹2.33 lakh, NII min 3,600 shares (₹3.49 lakh).
4. Who are EPW India promoters, and what are their holdings?
Yousuf Uddin (38%), Mohd Fasi Uddin (29%), Mohd Zaki Uddin (29%); pre-IPO 96%, post-IPO ~71%.
5. How will EPW India IPO proceeds be used?
Funds for working capital (₹14.28 Cr), debt repayment (₹8.50 Cr), and general corporate purposes (₹9.03 Cr).
6. Is there a QIB/anchor portion in EPW India SME IPO?
There is an anchor investor portion of about 9.32 lakh shares (28.43%), bidding December 19, with 30/90-day lock-ins.
