EPW India Limited is an IT electronics refurbishing company that provides affordable and reliable refurbished computing devices to customers across India. The company operates through a dual-channel business model, catering to both business-to-business (B2B) clients and direct-to-consumer (B2C) customers.
The company procures used laptops, desktops, Chromebooks, monitors, and peripheral accessories, which are then refurbished to near-new condition through a structured and quality-controlled process. Each product undergoes a 15–20 day refurbishment cycle, which includes comprehensive testing, fault diagnosis, component replacement, deep cleaning, data wiping, and fresh software installation before being offered for sale.
EPW India operates an in-house refurbishment facility spanning approximately 4,500 sq. ft., supported by a skilled technical workforce of 32 technicians. This in-house capability enables the company to maintain consistent product quality, optimize turnaround time, and ensure cost efficiency across operations.
The company focuses on delivering cost-effective, sustainable, and dependable IT solutions, aligning its operations with the principles of the circular economy by extending the lifecycle of electronic products and reducing e-waste.
In Fiscal Year 2025, EPW India generated 54.29% of its revenue from the B2C segment, while the remaining 45.20% was contributed by B2B sales, reflecting a balanced revenue mix across customer segments and sales channels.
EPW India IPO – Details
| IPO Opening Date | 22 December 2025 |
| IPO Closing Date | 24 December 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 32,79,600 Shares Worth ₹31.81 Crore Fresh Issue: 32,79,600 Shares Worth ₹31.81 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹95 – ₹97 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Bigshare Services Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
EPW India IPO – Date Schedule
| IPO Open Date | 22 December 2025 |
| IPO Close Date | 24 December 2025 |
| Basis of Allotment | 26 December 2025 |
| Initiation of Refund | 29 December 2025 |
| Credit of Shares to Demat | 29 December 2025 |
| IPO Listing Date | 30 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 24, 2025 |
EPW India IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,32,800 |
| 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 |
Competitive Strength
- Wide Range of Products.
- Experienced Team of Individuals.
- Reliable Warranty Service.
- Multiple Sales Channels.
- Experienced Promoter and Management Expertise.
Company Promoters
- Yousuf Uddin
- Mohd. Fasi Uddin
- Mohd. Zaki Uddin
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹6.66 Cr | ₹6.58 Cr | ₹0.06 Cr | ₹0.58 Cr |
| 31 March 2024 | ₹18.55 Cr | ₹17.54 Cr | ₹0.74 Cr | ₹0.23 Cr |
| 31 March 2025 | ₹53.34 Cr | ₹46.16 Cr | ₹4.33 Cr | ₹12.25 Cr |
| 30 September 2025 | ₹21.99 Cr | ₹16.20 Cr | ₹1.94 Cr | ₹18.15 Cr |
Key Performance Indicator
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.28 | 6.75 |
| P/E (x) | 18.36 | 14.37 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding the working capital requirements. | ₹14.28 |
| Repayment of Banking Facilities availed by the Company. | ₹8.50 |
| General Corporate Purposes. | – |
✅Strengths
- In-house 4,500 sq. ft. refurbishment facility ensures quality control.
- Balanced B2C (54.29%) and B2B (45.20%) revenue mix reduces dependence.
- Skilled team of 32 technicians supporting standardized processes.
- Sustainable, circular economy model aligned with rising e-waste awareness.
⚠️Risks
- Dependence on availability of used IT assets for procurement.
- High competition from organized and unorganized refurbishers.
- Refurbished product quality and return risk may impact margins.
- Working-capital-intensive operations are due to the inventory and refurbishment cycle.
EPW India IPO Promoter Holding
| Pre-Issue Share Holding | 100.00% |
| Post Issue Share Holding | 71.43% |
EPW India IPO Prospectus
- EPW India IPO DRHP
- EPW India IPO RHP
Company Contact Information
| EPW India Ltd. 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 Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
EPW India IPO Lead Manager(s)
| 1. GetFive Advisors Pvt.Ltd. |
EPW India IPO FAQ
| What is the EPW India IPO? EPW India IPO is an SME IPO. The issue is priced at ₹95 – ₹97 per equity share. The IPO is to be listed on NSE SME. |
| When will EPW India IPO open? The IPO is to open on 22 December 2025 for QIB, NII, and Retail Investors. |
| What is EPW India IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the EPW India IPO Size? EPW India IPO size is ₹31.81 Crore. |
| What are the EPW India IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2400 Shares for ₹2,32,800, while the maximum bid is 2400 Shares for ₹2,32,800. |
| What is the EPW India IPO Allotment Date? EPW India IPO allotment date is 26 December 2025. |
| What is the EPW India IPO Listing Date? EPW India IPO listing date is 30 December 2025. The IPO is to be listed on the NSE SME. |
