EPW India IPO is a book-built issue with a total size of ₹31.81 crore. The entire issue consists of a fresh issue of 0.33 crore shares, aiming to raise funds for the company’s business needs. The IPO opens for subscription on December 22, 2025, and will close on December 24, 2025.
The basis of allotment is expected to be finalised on December 26, 2025, and the shares are likely to be listed on NSE SME on December 30, 2025. The price band for the issue is set between ₹95 and ₹97 per share, offering investors an entry at different levels.
The minimum application size is 1,200 shares, making the minimum investment for retail investors ₹2,32,800 at the upper band. For HNI investors, the minimum lot size is 3 lots, equivalent to 3,600 shares, amounting to ₹3,49,200.
GetFive Advisors Private Limited is acting as the book running lead manager, while Bigshare Services Private Limited has been appointed as the registrar to the issue. SMC Global Securities Limited is serving as the market maker for this IPO.
EPW India IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be used for working capital requirements.
- Repayment of banking facilities availed by the company.
- Remaining funds will be used for general corporate purposes.
About EPW India Limited
EPW India Private Limited, having its registered office at Secunderabad, Hyderabad, Telangana, was incorporated as a private limited company under the provisions of the Companies Act, 2013.
The company operates in the IT electronics refurbishing sector and is engaged in providing refurbished electronic products through two supply chain models, namely direct-to-consumer and business-to-business.
The company focuses on offering refurbished products at comparatively lower prices than new products. Its business model covers an end-to-end reverse supply chain for IT assets, which includes procurement of used IT equipment such as laptops, desktops, Chromebooks, and peripherals, refurbishment of these assets to near-new condition, and sale to end users in both business and retail segments.
The company currently sells IT products including laptops, desktops, Chromebooks, monitors, and accessories such as keyboards and mouse through its own retail outlets and website.
The company’s vision is centered on aligning technology usage with sustainable practices. It seeks to support the circular economy by refurbishing, recycling, and reusing electronic products.
The company’s mission includes reducing electronic waste and promoting sustainability through the supply of refurbished products. It also focuses on making technology more affordable and accessible, with the objective of supporting digital inclusion by enabling broader access to computers and laptops.
To support its refurbishment operations, the company has established an in-house repair and renewal facility located at A.C.C. Structure, Plot No. 30/P, Survey No. 460/2. The facility spans approximately 4,500 square feet and is equipped with appropriate technology to carry out refurbishment activities. The company employs a team of 32 technicians who are engaged in refurbishing laptops and other IT products to ensure consistent operational processes.
The company follows a refurbishment cycle of approximately 15 to 20 days for used laptops. The process begins with acquisition and inspection of devices, followed by sorting and grading based on their condition.
Secure data erasure is performed on all devices, after which detailed hardware testing is conducted to identify defective components, which are replaced as required.
The devices then undergo cleaning and physical restoration, followed by software installation and activation. After completion of quality checks and performance testing, the refurbished products are packaged and dispatched to the company’s retail outlets or other distribution channels.
Industry Outlook
- The Indian refurbished laptops and desktops industry plays a significant role in addressing digital accessibility and sustainable development by offering cost-effective computing solutions while supporting formal e-waste management systems.
- Demand for refurbished IT equipment is driven by government-led digital initiatives such as Digital India, PM e-Vidya, and Skill India, which require large-scale deployment of affordable computing devices across educational institutions and public sector programs.
- The MSME sector increasingly adopts refurbished desktops and laptops to reduce capital expenditure while advancing digital adoption and operational efficiency.
- Refurbished devices, typically priced 40–60% lower than new products, enable bulk procurement without material compromise in functionality, supporting institutional and enterprise-level demand.
- Consumer adoption is gaining momentum in Tier II and Tier III cities due to higher price sensitivity and limited access to new electronic devices, supported by growing digital literacy.
- Certified re-commerce platforms and MeitY–STPI-recognized channels are strengthening market credibility by ensuring quality standards, warranty coverage, and after-sales service.
- The refurbished electronics sector contributes to India’s circular economy by extending product lifecycles and deferring e-waste generation under regulated Extended Producer Responsibility (EPR) frameworks.
- Rising awareness of environmental sustainability and compliance with the E-Waste (Management) Rules, 2022, are reinforcing the importance of refurbishment as part of responsible electronic consumption.
How To Apply for the EPW India IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the EPW India IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of EPW India IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of EPW India Limited
Registered office: Shop No. 131 & 132, Ground Floor, C-Block Chenoy Trade Center, Parklane, Secunderabad, Hyderabad, Telangana, 500003.
Phone: 79934 39988
Email: compliance@epwindia.com
Website: https://epwindia.com/
EPW India IPO Reservation
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 1,64,400 (5.01%) |
| QIB Shares Offered | 15,55,200 (47.42%) |
| − Anchor Investor Shares Offered | 9,32,400 (28.43%) |
| − QIB (Ex. Anchor) Shares Offered | 6,22,800 (18.99%) |
| NII (HNI) Shares Offered | 4,68,000 (14.27%) |
| Retail Shares Offered | 10,92,000 (33.30%) |
| Total Shares Offered | 32,79,600 (100.00%) |
EPW India IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,32,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,32,800 |
| S-HNI (Min) | 3 | 3,600 | ₹3,49,200 |
| S-HNI (Max) | 8 | 9,600 | ₹9,31,200 |
| B-HNI (Min) | 9 | 10,800 | ₹10,47,600 |
EPW India IPO Promoter Holding
The promoters of the company include Mr.Yousuf Uddin, Mr. Mohd. Fasi Uddin and Mr. Mohd. Zaki Uddin are the company promoters..
| Share Holding Pre-Issue | 100% |
| Share Holding Post Issue | 71.43% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for EPW India IPO
| KPI | Values |
| ROE | 139.17% |
| ROCE | 35.03% |
| Debt/Equity | 2.32 |
| RoNW | 82.06% |
| PAT Margin | 8.13% |
| EBITDA Margin | 11.64% |
| Price to Book Value | 15.06 |
EPW India IPO Registrar and Lead Managers
EPW India IPO Lead Managers
- GetFive Advisors Private Limited
Registrar for EPW India IPO
Bigshare Services Private Limited
- Contact Number: +91-22-6263 8200
- Email Address: ipo@bigshareonline.com
Financial Performance of EPW India Limited
| Particulars | Year ended 31 March 2025 | Year ended 31 March 2024 | Year ended 31 March 2023 |
| Total Income (₹ crore) | 53.34 | 18.55 | 6.66 |
| Profit After Tax (₹ crore) | 4.33 | 0.74 | 0.06 |
| EBITDA (₹ crore) | 6.21 | 1.03 | 0.11 |
| Net Worth (₹ crore) | 5.28 | 0.95 | 0.21 |
| Reserves and Surplus (₹ crore) | 5.18 | 0.85 | 0.11 |
| Total Borrowings (₹ crore) | 12.25 | 0.23 | 0.58 |
| Total Assets (₹ crore) | 26.55 | 8.1 | 6.25 |
EPW India Limited Peer Comparison
| Company Name | Revenue FY 2024-25 (₹ lakh) | EBITDA Margin (%) | PAT FY 2024-25 (₹ lakh) |
| EPW India Limited | 1,840.88 | 13.88% | 159.25 |
| GNG Electronics Limited | 17,213.80 | 11.53% | 1,018.10 |
| Cerebra Integrated Technologies Limited | 179.1 | -771.97% | -1,410.10 |
Strengths and Opportunities of EPW India Limited
- A diversified product portfolio comprising refurbished laptops, desktops, Chromebooks, monitors, and related IT accessories, catering to both individual consumers and institutional buyers.
- An experienced team of professionals and technicians with domain knowledge in IT asset refurbishment, quality control, and supply chain management.
- A structured and reliable warranty and after-sales support framework that enhances customer confidence and repeat business.
- Presence across multiple sales channels, including company-owned retail outlets, online platforms, and business-to-business distribution, enabling wider market reach.
- Experienced promoters and a management team with operational understanding of the refurbished electronics and IT asset lifecycle industry.
- An established in-house refurbishment and repair infrastructure that supports consistent product quality and operational efficiency.
- An end-to-end reverse supply chain model that enables efficient sourcing, refurbishment, and distribution of refurbished IT assets.
- Focus on data security and standardized refurbishment processes, including secure data erasure and quality testing, aligned with customer and regulatory expectations.
Risks and Threats of EPW India Limited
- Expansion into new product categories and an increase in the range of products offered may expose the Company to operational complexities, execution challenges, and additional business risks.
- Inability to consistently maintain product quality, competitive pricing, and timely delivery schedules may result in loss of market share and brand value, and may also lead to higher warranty claims and replacement costs.
- The Company operates in a competitive environment and faces competition from both organized and unorganized players offering refurbished products, which may adversely affect customer acquisition, retention, and overall business growth.
- Any failure to adequately protect intellectual property rights or inadvertent infringement of third-party intellectual property rights could result in legal disputes, financial liabilities, and reputational impact.
- Rapid technological changes in the electronics and IT sector may require continuous upgrades in refurbishment processes, skills, and infrastructure, and any inability to adapt may affect product relevance and competitiveness.
- Non-compliance with applicable laws, regulations, or failure to obtain or renew required registrations, approvals, or licenses in a timely manner may disrupt operations and expose the Company to regulatory action.
- Adverse general economic and business conditions at the local, regional, or national level may affect consumer spending, demand for refurbished products, and overall operating performance.
- Challenges in identifying, assessing, and managing business, legal, regulatory, economic, social, and political risks associated with operations may negatively impact the Company’s financial condition and cash flows.
