EPW India Ltd IPOEPWINDIA

The IPO opens on 22 Dec 2025 & closes on 24 Dec 2025.

EPW India Private Limited was originally incorporated as a private Company at Secunderabad, Hyderabad, Telangana, pursuant to a certificate of incorporation dated 16.04.2021, issued by the Registrar of Companies, Central Registration Centre. In 2024, Company was converted into a public limited company and a fresh certificate of incorporation was issued in the name of EPW India Limited' dated 26.12.2024 by the Registrar of Companies, Central Processing Centre. EPW India is an IT electronics refurbishing company providing refurbished electronics by using two different supply chain method (Direct to consumer and Business to Business) at significant prices as compared to new products. The business model encompasses end to end reverse supply chain for IT assets. It involves procuring used IT assets (laptops, desktops, Chromebook and peripherals) and selling them directly to end customers - businesses or retail. Currently, Company sells IT products like laptops, desktops, Chromebook, monitors, keyboards, mouse, etc. through its own shops and website. The Company has started operations at the new facility in Telangana, India in 2025. To support the operational activity of refurbishment of IT products, Company established an in-house repair and renewal facility located at A.C.C. structure Plot No. 30/P, Survey No. 460/2. It works a team of 32 technicians dedicated to refurbishing laptops and other IT products, ensuring smooth and efficient operational process for the Company. Company is planning the Initial Public Offer by issuing 32,80,000 Equity Shares of Rs 5 each through fresh issue.

EPW India Ltd IPO will close on 24 Dec 2025.

<ul><li>Wide Range of Products.</li><li>Experienced Team of Individuals.</li><li>Reliable Warranty Service.</li><li>Multiple Sales Channels.</li><li>Experienced Promoters and Management Expertise.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Yousuf Uddin</td> <td>3116000</td> <td>38</td> <td>3116000</td> <td>27.14</td> </tr> <tr> <td>2</td> <td>Mohd Fasi Uddin</td> <td>2378000</td> <td>29</td> <td>2378000</td> <td>20.71</td> </tr> <tr> <td>3</td> <td>Mohd Zaki Uddin</td> <td>2378000</td> <td>29</td> <td>2378000</td> <td>20.71</td> </tr> <tr> <td>4</td> <td>Fateema Jabeen</td> <td>82000</td> <td>1</td> <td>82000</td> <td>0.71</td> </tr> <tr> <td>5</td> <td>Ayesha Fathima</td> <td>82000</td> <td>1</td> <td>82000</td> <td>0.71</td> </tr> <tr> <td>6</td> <td>Saba Begum</td> <td>82000</td> <td>1</td> <td>82000</td> <td>0.71</td> </tr> <tr> <td>7</td> <td>Mujeeb Sultana</td> <td>82000</td> <td>1</td> <td>82000</td> <td>0.71</td> </tr> </tbody> </table>

<ul><li>The company may be adversely affected by its dependence on IT Supplies, exposure to price volatility, and the absence of long-term supply contracts.</li><li>The company does not own the premises in which its registered office is located and the same are on lease arrangement. Any termination of such lease/ license and/ or non-renewal thereof and attachment by Property Owner could adversely affect our operations.</li><li>Inability to effectively manage inventory levels and fluctuations in prices of key components used in the refurbishment process may increase its operational costs and adversely impact the company business, profitability and cash flows.</li><li>The Company's business model is highly dependent on a reliable and efficient supply chain for the procurement of used laptops, components and other materials necessary for the refurbishment process. Any disruption in this supply chain may have a significant negative impact on the Company's operations, production schedules, and financial performance.</li><li>The company may not be able to successfully manage the growth of its business if the company is unable to maintain adequate internal systems, processes and controls.</li><li>The company policy of providing product warranties exposes it to potential costs associated with returns, replacements, and disputes, which may adversely affect its profitability and operational results.</li><li>If the company is unable to maintain and enhance its brand and reputation, the sales of the company services may suffer which would have a material adverse effect on its business operations.</li><li>The company failures to achieve adequate sales from its stores could adversely affect the company business and results of operations.</li><li>The company business is labour-intensive, and any disruption due to workforce-related issues such as strikes, attrition, or rising wage pressures could adversely affect its operations, costs, and financial performance.</li><li>The company business is working capital intensive, and any shortfall in meeting its working capital requirements may adversely impact the company operations, growth plans, and financial condition.</li><li>The company increase in profit after tax (pat) margin may not be sustainable in future periods and could adversely affect its financial performance.</li><li>The company may not be able to scale its business quickly enough to meet its customers' growing needs and if the company is not able to grow efficiently, its operating results could be harmed.</li><li>Its business is subject to seasonality (as the company see higher demand of its products from its customers during the festive seasons), which may contribute to fluctuations in the company periodical results of operations and financial condition.</li><li>Its expansion into new product categories and an increase in the number of products offered by it may expose it to new challenges and more risks.</li><li>If the company products fails to perform properly due to defects, or similar problems, and if the company fails to develop enhancements to resolve any defect or other problems, the company could lose customers, become subject to negative publicity which could affect its business and operations.</li><li>The company generates e-waste during the refurbishment of used IT products, and the company have not yet been able to establish a sustainable, efficient, and effective system for its disposal.</li><li> The Company's inability to receive or renew the necessary licenses, approvals and registrations in a timely manner or at all may lead to interruption of the Company's operations.</li><li>Industry information included in this Red Herring Prospectus has been derived from third party industry reports.</li><li>The market for its refurbished products is relatively new and evolving. If the market does not develop further, develops more slowly, or in a way that the company does not expect, its business will be adversely affected.</li><li>An inability or failures to provide timely and effective customer support and related services may negatively impact the Company's customer relationships, reputation, and financial performance.</li><li>The Company's inability to adapt to technological changes, evolving customer preferences and emerging industry trends may adversely affect its business, financial condition, and results of operations.</li><li>The company is dependents on its Promoters and Directors for the execution of the Company's business strategy. The company is also dependent on a number of Key Managerial Personnel and its senior management, and the loss of, or the Company's inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.</li><li>The Company proposes to utilize part of the Net Proceeds for repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Company from various banks and financial institutions and accordingly, the utilization of that portion of the Net Proceeds will not result in creation of any tangible assets.</li><li>The agreements executed by the Company with lenders for financial arrangements contain restrictive covenants for certain activities and if the company is unable to get their approval, it might restrict our scope of activities and impede the Company's growth plans.</li><li>The Company's industry is competitive and its faces significant competition from both established and un-organised companies offering refurbished products, which may have a negative effect on the Company's ability to add new customers, retain existing customers and grow its business. The company inability to compete effectively will adversely affect its business, results of operations, financial condition and cash flows.</li><li>The Company's Promoters/ Directors/ Promoter Group have given personal guarantees and properties in relation to certain debt facilities provided to the Company by its lender. In event of default of the debt obligations, the personal guarantees may be invoked thereby adversely affecting the Company's Promoter's ability to manage the affairs of the Company and the Company's profitability and consequently this may impact its business, prospects, financial condition and results of operations.</li><li>The Company's top three states contribute its major revenue for the mid period ending on September 30, 2025 and financial year ended 31st March 2025, 2024, 2023. Any loss of business from one or more of these states may adversely affect the Company's revenues and profitability.</li><li>The unsecured loan availed by the Company from Directors and related party may be recalled at any given point of time.</li><li>The Company has a negative cash flow in its operating activities in current financial year out of previous three financial years details of which are given below.</li><li>Some of its Directors may not have prior experience as directors of companies listed on recognized stock exchanges.</li><li>The company has in past entered into related party transactions and its may continue to do so in the future.</li><li>In addition to the existing indebtedness the Company, may incur further indebtedness during the course of business. Whereas its lenders have charge over the Company's movable and immovable properties in respect of finance already availed by it.</li><li>There are outstanding legal proceedings involving the Company and one of its Promoters/ Directors. Any adverse outcome in such proceedings may have an adverse impact on the Company's reputation, business, financial condition, results of operations and cash flows.</li><li>The average cost of acquisition of Equity Shares by its Promoters, is lower than the Issue Price of Equity Share.</li><li>Excessive dependence on Banks in respect of Loan facilities obtained by the Company.</li><li>There are certain discrepancies and non-compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities such as Ministry of Corporate Affairs, Income Tax and GST.</li><li>Any non-compliance, default or regulatory action on any person or entities belonging to Promoter Group could adversely affect the Company's business reputation and operations.</li><li>The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.</li><li>The Company's future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.</li><li>The Company's insurance coverage may not be adequate to protect it against certain losses and this may have a material adverse effect on the Company's business.</li><li>Any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.</li><li>The company has not entered into any long-term contracts with any of its clients and supplier.</li><li>Promoters who are directors as well, hold Equity Shares in the Company and are therefore interested in the company performance in addition to their remuneration and reimbursement of expenses.</li><li>The Company's ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.</li><li>Interest rate fluctuations may adversely affect the Company's business.</li><li>The Issue price of the Company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the Company's Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.</li><li>The requirements of being a public listed company may strain the Company's resources and impose additional requirements.</li><li>There is no guarantee that the Company's Equity Shares will be listed on the relevant stock exchange in a timely manner or at all.</li><li>Sale of Equity Shares by the Company's Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.</li><li>After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.</li><li>Within the parameters as mentioned in the chapter titled "Objects of this Issue" in this Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of this Issue.</li></ul>

The Issue type of EPW India Ltd is Book Building - SME.

The minimum application for shares of EPW India Ltd is 2400.

The total shares issue of EPW India Ltd is 3279600.

Initial public issue of up to 32,79,600 equity shares of face value of Rs. 5/- each of EPW India Limited ("EPW" or the "company" or the "issuer") for cash at a price of Rs. 97 per equity share including a share premium of Rs. 92 per equity share (the "Issue Price") aggregating to Rs. 31.81 crores ("the Issue"), of which 1,64,400 equity shares of face value of Rs. 5/- each for cash at a price of Rs. 97 per equity share including a share premium of Rs. 92 per equity share aggregating to Rs. 1.59 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 31,15,200 equity shares of face value of Rs. 5/- each at a price of Rs. 97 /- per equity share including a share premium of Rs. 92 /- per equity share aggregating to Rs. 30.22 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 28.57% and 27.14%, respectively, of the post issue paid up equity share capital of the company. Price Band: Rs. 97 per equity share of face value Rs. 5/- each. The floor price is 19.4 times of the face value of the equity shares. Bids can be made for a minimum of 2400 equity shares and in multiples of 1200 equity shares thereafter.