Euro Pratik Sales, based in Mumbai, files DRHP with SEBI to raise ₹730 crore through an IPO. The offer is entirely an offer-for-sale, with proceeds going to selling shareholders.
Euro Pratik Sales Limited, a leading decorative wall panel and premium laminates manufacturer based in Mumbai, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Tuesday. The company aims to raise ₹730 crore through its upcoming Initial Public Offering (IPO), which is entirely an offer-for-sale (OFS).
The funds raised through this issue will not be used by the company directly but will instead go to the selling shareholders. Notably, the promoters of Euro Pratik, including Pratik Gunvantraj Singhvi, Jai Gunvantraj Singhvi, and others, will be divesting stakes valued at ₹730 crore in total. The company itself will not receive any proceeds from the IPO, as no fresh equity shares are being issued.
Euro Pratik Sales, which sells a variety of decorative wall panels and premium laminates, has established a strong presence in the industry, with over 173 distributors across 23 states and union territories in India. The company caters to high-profile clients in the United States and Europe. With a range of over 30 products, Euro Pratik has become a recognized name in the premium laminates sector.
As per its filing, the company recorded a net profit of ₹43.4 crore for the nine-month period ending September 30, 2024. For the full financial year 2023-24, the company reported a net profit of ₹62.9 crore, marking a growth of 5.6% from the previous year.
The IPO will be managed by Axis Capital Ltd and DAM Capital Advisors Ltd, while MUFG Intime India Private Limited will act as the registrar for the offer.
About Euro Pratik:
Euro Pratik Sales is a prominent player in the decorative wall panel and premium laminates industry. With a wide array of products, the company has established a strong market presence, both domestically and internationally.
