Euro Pratik Files DRHP for Rs 730 Crore IPO with SEBI
One of India's leading Decorative Wall Panel brands, Euro Pratik Ltd., filed its preliminary documents with SEBI, seeking approval for an initial public offering (IPO) to raise up to ₹730 crore. As detailed in the draft red herring prospectus, the IPO will be solely an offer for sale. The company plans to list its shares on both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
Euro Pratik - Company Details
Euro Pratik is a well-established brand in India's decorative wall panel industry. The company is now focusing on expanding its reach into international markets. The company’s entry into the capital market marks a key milestone, with plans to capitalize on its early-mover advantage after the listing, according to industry experts monitoring the home decor sector.
In the past four years, this rapidly growing company, operating under its two brands – Euro Pratik and Glorio – has become a leader in decorative wall panels and premium laminates. With a 25% market share in its segment, Euro Pratik boasts a diverse product range, offering over 3,000 SKUs across 30 categories and distributing through 170 channels nationwide.
As per the DRHP filing, the company posted a net profit of ₹43.41 crore for the nine months ending September 30, 2024, for the financial year 2024-25. Its net profit increased by 5.6% to ₹62.9 crore for the financial year 2023-24, up from ₹59.56 crore in 2022-23. The company’s revenue declined by 15.89% to ₹ 221.7 crores in FY 23-24 as compared to ₹ 263.59 crores in FY 22-23.
IPO Structure
Euro Pratik Sales IPO is a complete offer-for-sale (OFS), aiming to raise ₹730 crore through the issuance of equity shares with a face value of ₹1 per share, as per the DRHP details. This IPO does not include a fresh issue component, meaning the funds raised will go entirely to the shareholders who are selling their stakes in the company. The company itself will not receive any of the proceeds from the offering.
The promoters divesting their stakes in Euro Pratik Sales Ltd. include Pratik Gunvantraj Singhvi, selling a stake valued at ₹45.7 crores; Jai Gunvantraj Singhvi, with a stake worth ₹45.1 crores; Pratik Gunwantraj Singhvi HUF and Jai Gunwantraj Singhvi HUF, offering a stake of ₹253.4 crores. Additionally, Dipty Pratik Singhvi and Nisha Jai Singhvi are each selling stakes valued at ₹66.2 crore.
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