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EPW India IPO
EPW India Ltd
₹2,28,000 /1200 sharesMinimum Investment
EPW India IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 22 Dec ‘25 - 24 Dec ‘25 | ₹2,28,000 | 1,200 | ₹95 - ₹97 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 31.81 Cr | RHP PDF | 26 Dec ‘25 | 30 Dec ‘25 |
| Face value |
|---|
| 5 |
About EPW India
Founded in
2021
MD/CEO
Mr Yousuf Uddin
Parent organisation
EPW India Ltd
Strengths & Risks of EPW India
Strengths
Risks
EPW India claims to offer refurbished laptops, desktops, Chromebooks, and peripherals sourced from multiple well-known brands. It states that products span different configurations and price ranges, from basic systems to higher-performance machines, aimed at varied end users, such as students, professionals, businesses, and schools.
EPW India states that it provides a one-year limited warranty on eligible refurbished desktops and laptops. It claims the warranty covers manufacturing defects, hardware malfunctions, and non-functionality under normal use, with repair or replacement (with new or refurbished parts of equivalent quality) and a stated turnaround of 7-10 business days, subject to parts availability.
EPW India claims to generate revenue through both online and offline channels. It also states that it sells through its own shops in multiple regions and operates through both business-to-business (B2B) and business-to-consumer (B2C) models.
The company has reported a consistent increase in revenue from operations and profit after tax. Revenue from operations increased from Rs 6.66 crore in FY23 to Rs 18.53 crore in FY24 and Rs 51.87 crore in FY25. PAT increased from Rs 0.06 crore in FY23 to Rs 0.74 crore in FY24 and Rs 4.13 crore in FY25.
The top 10 suppliers accounted for 56.26% of total IT supply purchases for the period ended September 30, 2025. The company does not have long-term supply agreements, which exposes it to price volatility, supply constraints, and changes in supplier terms, as well as regulatory restrictions on the import of used computers and peripherals. Any adverse changes in supply availability, pricing, or regulations, or the company’s inability to secure supplies in required quantities, quality, or timelines, could negatively impact its operating margins, operational efficiency, and financial condition.
EPW India’s demand for refurbished IT products is seasonal, with higher sales during festival periods (around Dussehra, Diwali, Christmas, and New Year) and higher demand from SME clients in February and March. This can cause quarter-to-quarter fluctuations, and results in one period may not reflect trends for the full financial year or be comparable with other periods. Any unforeseen events, such as an economic slowdown, political instability, or epidemic during peak months, could negatively impact its operations and financial condition.
EPW India generates e-waste during the refurbishment of used IT products and has not yet established a sustainable, efficient, and effective disposal system. With limited recognised recycling centres in India and significant e-waste handled by the unorganised sector, disposal may depend on third-party vendors whose compliance cannot be fully ensured. Any non-compliance with e-waste handling rules or environmental regulations could lead to additional costs, legal proceedings, and a negative impact on profitability and financial performance.
Telangana accounted for Rs 25.32 crore (66.01 percent) of the company’s revenue for the period ended September 30, 2025; Rs 39.27 crore (75.70 percent) in FY25; Rs 14.35 crore (77.44 percent) in FY24, and Rs 6.38 crore (95.73 percent) in FY23. Any adverse political, social, economic, competitive, or demand-related developments in this region could adversely affect the company’s revenues and profitability.
The company reported negative cash flow from operating activities amounting to Rs 4.36 crore for the period ended September 30, 2025, and Rs 10.95 crore in FY25. Additionally, negative cash flow from investing activities amounted to Rs 0.07 crore for the period ended September 30, 2025; Rs 0.53 crore in FY25; Rs 0.03 crore in FY24, and Rs 0.04 crore in FY23. The company reported negative cash flow from financing activities amounting to Rs 0.35 crore in FY24. The company also witnessed a net decrease in cash and cash equivalents amounting to Rs 0.54 crore for the period ended September 30, 2025. If the company is not able to generate sufficient cash flows in the future, it may adversely affect its business and financial operations.
The company, its directors, and promoters are involved in certain ongoing legal proceedings. Adverse judgments in any of these cases could hurt the company’s business prospects.
EPW India was incorporated on April 16, 2021, and therefore, has a limited operating history. This makes it difficult to assess long-term business performance, the sustainability of revenues, and the ability to manage risks across different market cycles. Any inability to scale operations or adapt to changing market conditions could adversely affect its business and financial condition.
As of September 30, 2025, the company had outstanding financial indebtedness of Rs 16.88 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
EPW India Financials
*All values are in Rs. Cr
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Application Details of EPW India IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹95 - 97 | ₹2 - 5 Lakh | 1200 |
For EPW India IPO, eligible investors can apply as Individual investor.