Euro Pratik Files Draft Papers With Sebi For Rs 730-Crore IPO

Euro Pratik, a prominent player in the decorative wall panel industry, has filed draft papers with the markets regulator Sebi seeking its approval to float an Initial Public Offering (IPO) worth Rs 730 crore. The IPO is entirely an Offer For Sale (OFS) by promoters. It includes a subscription reservation for eligible employees, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.

Euro Pratik is a leading player in India's decorative wall panel industry, commanding nearly 16 per cent market share by revenue in the organised segment, according to Technopak Report. Over the years, it has developed an extensive product range catering to both residential and commercial applications which are predominantly sold under its flagship brands "Euro Pratik" and "Gloirio". The company operates on an asset-light model. It outsources manufacturing to contract partners across South Korea, China, and the USA.

During the six months ended September 2024, the company collaborated with 26 contract manufacturers from these countries. In fiscal 2024, Euro Pratik commenced exports to six countries, including Singapore, UAE, Australia, Bangladesh, Burkina Faso and Nepal. Over the past three years, the company has scaled its operations through acquisitions, consolidating businesses, and diversifying its product offerings.

Key acquisitions include Vougue Decor, Euro Pratik Laminate LLP, Millenium Decor, EuroPratik Intex LLP, and Euro Pratik USA, LLC, which have significantly enhanced its portfolio and geographic reach. To aid its marketing efforts, it has partnered with renowned celebrities Hrithik Roshan and Kareena Kapoor Khan as brand ambassadors for its "Euro Pratik" and "Gloirio" brands, respectively. In fiscal 2024, the company's consolidated revenue from operations stood at Rs 222 crore and Profit after tax at Rs 63 crore. Axis Capital and DAM Capital Advisors are the book-running lead managers of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.

(PTI)