EPW India IPO – Complete Details, Financials, Risks, Strengths & Review
EPW India IPO Overview
EPW India Limited is coming up with its SME Initial Public Offering (IPO), offering investors an opportunity to participate in a growing IT and electronics refurbishing business. The company operates in the refurbished electronics segment, catering to both B2C (Business-to-Consumer) and B2B (Business-to-Business) markets.
This IPO is being launched on the NSE SME platform, which is generally suitable for investors with a higher risk appetite, as SME IPOs can be volatile.
EPW India IPO Key Details
| Particulars | Details |
|---|---|
| IPO Name | EPW India IPO |
| Company Name | EPW India Limited |
| IPO Type | SME IPO |
| Exchange | NSE SME |
| Issue Size | ₹31.81 Crore |
| Face Value | ₹5 per share |
| Price Band | ₹95 – ₹97 per share |
| Lot Size | 1,200 shares |
| Minimum Investment | ₹2,28,000 |
| Retail Category | Individual Investor |
EPW India IPO Important Dates
| Event | Date |
|---|---|
| IPO Open Date | 22 December 2025 |
| IPO Close Date | 24 December 2025 |
| Tentative Allotment Date | 26 December 2025 |
| Tentative Listing Date | 30 December 2025 |
About EPW India Limited
EPW India Limited is an IT and electronics refurbishing company that focuses on procuring used IT assets, refurbishing them, and reselling them across various channels.
Business Model
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Procures used laptops, desktops, Chromebooks, and peripherals
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Refurbishes devices with quality checks
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Sells products through:
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Direct-to-Consumer (D2C)
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Business-to-Business (B2B)
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Online and offline channels
-
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Operates through its own shops in multiple regions
Key Company Information
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Founded: 2021
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Managing Director / CEO: Mr. Yousuf Uddin
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Parent Organization: EPW India Limited
The company aims to offer refurbished products at multiple price points, catering to students, professionals, businesses, and institutions such as schools.
EPW India IPO Strengths
1. Diverse Product Portfolio
EPW India offers refurbished laptops, desktops, Chromebooks, and peripherals sourced from multiple well-known brands, providing flexibility in pricing and configurations.
2. Warranty Support
The company provides a one-year limited warranty on eligible refurbished devices, including repair or replacement, subject to parts availability.
3. Multiple Sales Channels
Revenue is generated through:
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Online platforms
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Offline retail stores
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B2B sales
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D2C operations
This diversified channel strategy reduces dependency on a single revenue source.
4. Improving Financial Performance
EPW India has shown strong revenue and profitability growth, indicating improving operational efficiency and expanding market reach.
EPW India Financial Performance
Revenue Growth (₹ in Crore)
| Financial Year | Revenue |
|---|---|
| FY23 | 6.06 |
| FY24 | 18.63 |
| FY25 | 51.87 |
👉 Revenue increased significantly from ₹6.06 crore in FY23 to ₹51.87 crore in FY25, reflecting rapid business expansion.
Profit After Tax (PAT) (₹ in Crore)
| Financial Year | PAT |
|---|---|
| FY23 | 0.03 |
| FY24 | 0.74 |
| FY25 | 4.13 |
👉 PAT growth shows improving margins and better cost management.
EPW India IPO Risks & Concerns
1. Dependence on Limited Suppliers
A large portion of IT asset supply comes from a limited number of suppliers. Any disruption may impact operations, margins, and delivery timelines.
2. Regulatory & Import Restrictions
The business depends on the import of used computers and peripherals. Changes in government regulations, import policies, or compliance requirements could negatively impact the business.
3. Seasonal & Quarter-to-Quarter Variability
The company’s performance can fluctuate due to seasonal demand, supplier availability, and market conditions, making earnings unpredictable.
4. Waste Handling & Environmental Compliance
Refurbishing operations generate electronic waste. Any non-compliance with environmental or waste-handling regulations could result in penalties and reputational damage.
5. Regional Concentration
A significant portion of operations and revenue is dependent on specific regions. Adverse economic or political conditions in those regions may affect performance.
6. Ongoing Legal Proceedings
The company, its directors, or promoters are involved in certain legal proceedings, which could impact business operations if outcomes are unfavorable.
7. Limited Operating History
Incorporated in April 2021, EPW India has a relatively short operating history, making long-term performance assessment difficult.
8. Financial Indebtedness
As of September 30, 2025, the company had outstanding borrowings of ₹15.88 crore. Any failure to service debt could impact financial stability.
Application Details for EPW India IPO
| Category | Details |
|---|---|
| Apply As | Individual Investor |
| Price Band | ₹95 – ₹97 |
| Lot Size | 1,200 shares |
| Investment Range | ₹2.28 Lakh to ₹5 Lakh |
EPW India IPO FAQs
Q1. What is the issue size of EPW India IPO?
The total issue size of EPW India IPO is ₹31.81 crore.
Q2. What are the opening and closing dates of the IPO?
The IPO opens on 22 December 2025 and closes on 24 December 2025.
Q3. What is the minimum investment required?
The minimum investment is ₹2,28,000, as one lot consists of 1,200 shares.
Q4. When will the allotment be finalized?
The tentative allotment date is 26 December 2025.
Q5. Where will EPW India IPO be listed?
The shares are proposed to be listed on NSE SME.
Q6. Who is the registrar of EPW India IPO?
The registrar is Bigshare Services Pvt. Ltd.
EPW India IPO – Should You Invest?
EPW India IPO presents an opportunity to invest in a fast-growing refurbished electronics market with strong revenue and profit growth. However, being an SME IPO, it carries higher risks, including regulatory dependency, supplier concentration, and limited operating history.
👉 Suitable for: Investors with a high risk appetite and long-term outlook
👉 Not suitable for: Conservative investors seeking stable returns
Disclaimer
This article is for educational and informational purposes only. It is not investment advice. IPO investments, especially SME IPOs, involve market risk. Investors should read the Red Herring Prospectus (RHP) carefully and consult their financial advisor before making any investment decision. The author is not responsible for
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