The focus for investors who applied for the EPW India initial public offering (IPO) now shifts to the allotment process, which is anticipated to be finalised today, December 26, 2025. The public issue, which witnessed a muted response from investors during its subscription window, is now moving towards its next critical phase ahead of the stock market debut.
EPW India IPO Allotment and Listing Timeline
The ₹31.81 crore SME IPO was open for subscription from December 22 to December 24, 2025. With the basis of allotment likely to be determined today, the company is preparing for its listing on the NSE SME platform on Tuesday, December 30, 2025. Upon finalisation of the allotment, equity shares will be directly credited to the demat accounts of successful allottees.
For those applicants who do not receive an allocation, the refund process is scheduled for Monday, December 29, 2025. This step ensures that funds are returned promptly to unsuccessful bidders.
How to Check EPW India IPO Allotment Status Online
Investors can conveniently check their allotment status through two primary online portals. The process is straightforward and requires basic application details.
Via the NSE Website
Follow these steps on the National Stock Exchange's portal:
- Visit the NSE allotment page dedicated to IPO bids.
- Select the 'Equity & SME IPO bid details' option.
- From the 'Issue Name' dropdown menu, choose EPW India.
- Enter your Permanent Account Number (PAN) and Application Number.
- Click on 'Submit' to view your EPW India IPO allotment status on the screen.
Via Bigshare Services (Registrar)
Alternatively, you can use the registrar's platform:
- Go to the Bigshare Services IPO allotment web portal.
- In the 'Select Company' dropbox, pick EPW India.
- Choose your preferred search method: Application Number, Beneficiary ID, or PAN.
- Enter the corresponding details as per your selection.
- After filling in the captcha code, click 'Search' to display your allotment status.
Subscription Details and Grey Market Premium (GMP)
The public offering received a lukewarm response, closing with an overall subscription of 1.32 times the shares on offer. The retail investor portion was subscribed 1.31 times, while the Non-Institutional Investors (NII) segment saw 1.53 times bidding. Qualified Institutional Buyers (QIBs) showed moderate interest, with their portion booked 1.17 times. In total, the company received bids for 28.71 lakh shares against the 21.82 lakh shares on offer.
In a significant indicator of market sentiment, the EPW India IPO Grey Market Premium (GMP) stands at ₹0 per share today. This suggests that the shares are expected to list at the issue price of ₹97, with no premium or discount anticipated in the unofficial market.
Key Details of the EPW India IPO
The IPO comprised a fresh issue of 33 lakh equity shares, with no offer-for-sale component from existing promoters or shareholders. The price band was set between ₹95 and ₹97 per share. With a fixed lot size of 1,200 shares, the minimum investment amount for retail investors came to ₹2,32,800 (for 2,400 shares at the upper price band).
The net proceeds from the issue are earmarked for specific corporate purposes. A sum of ₹15.85 crore is allocated to meet working capital requirements, while ₹8.50 crore is designated for the repayment of certain banking facilities. The remaining amount will be utilised for general corporate purposes to support operational and strategic needs.
Prior to the public issue, EPW India secured ₹9.04 crore from anchor investors on December 19, 2025, marking early institutional confidence. GetFive Advisors Pvt. Ltd. is the book-running lead manager, and SMC Global Securities Ltd. is acting as the market maker for this offering.
About EPW India's Business
EPW India operates in the growing IT electronics refurbishment sector. The company provides affordable, refurbished laptops, desktops, Chromebooks, monitors, and accessories through both business-to-business (B2B) and direct-to-consumer (B2C) channels. Its business model involves procuring used IT equipment, refurbishing it to a near-new condition in-house, and reselling it to end customers.
The company boasts a 4,500 sq. ft. in-house refurbishment facility manned by a team of 32 skilled technicians. Each product undergoes a rigorous 15–20 day refurbishment cycle, which includes comprehensive testing, repair, cleaning, and software installation. For the fiscal year 2025, the company reported a balanced revenue mix, with 54.29% coming from the B2C segment and 45.20% from B2B sales.
