Euro Pratik Sales IPO Details

Introduction

Euro Pratik Sales Limited, a leading name in decorative wall panels and laminates, is stepping into the spotlight with its ₹451 crore IPO. Known for innovation and beautiful design, Euro Pratik’s products grace homes and commercial spaces across India. If you’re looking to participate in a rapidly growing sector, this IPO could be your gateway to join their journey from design to distribution.

Euro Pratik Sales IPO: At a Glance

• Subscription Dates: September 16–18, 2025
• IPO Size: ₹451.31 crore (Offer For Sale; 1.83 crore shares, face value ₹1)
• Price Band: ₹235–₹247/share
• Lot Size: 60 shares (min. investment: ₹14,100)
• Listing Date (tentative): September 23, 2025 (BSE, NSE)
•  Lead Managers: Axis Capital, DAM Capital Advisors
• Registrar: MUFG Intime India Private Limited

Employee Discount: ₹13 off per share for eligible employees.

Quick Business Overview

Founded in 2010, Euro Pratik Sales specializes in marketing, designing, and distributing unique decorative wall panels and laminates. Their asset-light approach relies on outsourcing manufacturing to partners abroad, expanding reach to 116 cities and 25 states. The firm’s popular products—such as Louvres, Chisel, and Auris—are well recognized, thanks in part to their high-profile brand ambassador, Hrithik Roshan.

Company Financials

Euro Pratik Sales Ltd.'s revenue increased by 27% and profit after tax (PAT) rose by 22% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended	31-Mar-25	31-Mar-24	########
Assets	273.84	174.49	159.12
Total Income	291.52	230.11	268.55
Profit After Tax	76.44	62.91	59.57
EBITDA	110.1	89	83.63
NET Worth	234.49	155.73	130.02
Reserves and Surplus	223.88	153.75	129.51
Total Borrowing	2.68		3
Amount in ₹ Crore

IPO Objectives

• The IPO is a pure Offer For Sale (OFS); proceeds go to selling shareholders, not the company. The listing aims to unlock value and improve brand visibility.

Market Sentiment & GMP

• Grey Market Premium (GMP): As of the first subscription day, the GMP is flat, suggesting the shares may list close to the upper end of the issue price.
• Early industry reviews are neutral, with attention on Euro Pratik’s steady growth, margins, and wide reach.

Strengths

According to the Technopak report, EPSL stands among India’s leading decorative wall panel brands, holding a significant 15.87% market share by revenue in the organized decorative wall panels industry. In FY 2023, the company reported ₹174.3 crore in revenue from its decorative wall panel segment alone.

EPSL boasts a comprehensive product portfolio that spans multiple categories, offering both decorative and functional solutions to meet diverse architectural and design needs. With over 30 product categories and more than 3,000 designs, the brand caters to a wide range of customer preferences.

Backed by years of industry experience, EPSL has consistently stayed ahead of shifting market trends, technological advancements, evolving standards, and changing consumer tastes. This adaptability enables the company to effectively serve both end consumers and distributors in the decorative wall panels and laminates space.

The company follows an asset-light business model, focusing on product design and development while outsourcing manufacturing to contract partners, including global players like Miga (South Korea), known for their advanced technology and expertise.

EPSL’s strength also lies in its robust distribution network, comprising 180 distributors across 25 states and five union territories in India, ensuring deep market penetration and operational efficiency.

Financially, the company remains strong with negligible debt (₹2.7 crore as of March 31, 2025) and impressive return ratios — RoE of 39.2x and RoCE of 44.58x in FY 2025

Weaknesses

• Exchange Rate Risk
  Fluctuations in foreign exchange rates have impacted margins in the past, specifically during Fiscals 2025, 2024, and 2023. Purchases made in foreign currencies stood at ₹115.3 crore, ₹113.5 crore, and ₹138.6 crore, accounting for 54.72%, 92.22%, and 81.17% of total purchases in those years, respectively. Continued volatility in exchange rates could affect profitability.
• Dependency on Contract Manufacturers
  The company’s operations rely heavily on third-party manufacturers. Losing key manufacturing partners, without timely and effective replacements, may disrupt product sourcing and supply.
• Impact of Trade Policies and Global Markets
  Unfavourable changes in international markets or India’s trade policies could increase import costs, cause supply chain disruptions, delay deliveries, reduce margins, and affect overall product availability.
• Distribution Network Challenges
  The company’s growth depends on the successful expansion and management of its distribution network. Any inefficiency or disruption in this network could restrict business growth.
• Cash Flow Concerns
  EPSL reported negative cash flows from operating activities in Fiscal 2025. Recurrence of such cash flow issues in the future may impact financial stability.
• Working Capital Intensive Operations
  The business requires significant working capital. In FY2025, working capital days were 168, reflecting the capital-heavy nature of operations.
• Regulatory Risks
  Promoters Jai Gunvantraj Singhvi and Pratik Gunvantraj Singhvi received an administrative warning from SEBI. Any further regulatory proceedings against promoters may negatively affect the company’s reputation.
• Related Party Transactions
  EPSL has engaged in related party transactions as part of its operations. These transactions amounted to 102.40%, 39.01%, and 41.43% of revenue in Fiscals 2025, 2024, and 2023, respectively. Such dependence could pose operational risks.
• Sector Dependency
  Being closely tied to the construction and real estate sectors, the company’s performance is influenced by the broader Indian economy. A slowdown or prolonged weakness in these sectors may adversely affect demand for its products.

JM Financial Services

JM Financial Services market insights highlight the growth in decorative materials, particularly in asset-light models like Euro Pratik. They note the importance of steady EBITDA margins and broad distribution, but advise careful consideration of sector cyclicality and management strategy. Their IPO desk facilitates bidding and educates investors about bid windows, UPI payments, and documentation.

How To Apply for the VMS TMT IPO Online?

1. Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
3. Select IPO: Find and select the VMS TMT IPO from the list of open IPOs. 
4. Enter the Lot Size: Specify the number of lots you want to bid for. 
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of VMS TMT IPO?

Steps to check IPO allotment status on Angel One’s app: 

1. Log in to the JM Pro app. 
2. Go to the IPO Section and then to IPO Orders. 
3. Select the individual IPO that you had applied for and check the allotment status. 
4. JM Financial Services will notify you of your IPO allotment status via push notification and email. 

Final Thoughts:
Euro Pratik Sales IPO represents a modern success in asset-light design and pan-India distribution. If you’re considering an investment, look at revenue growth, profit margins, and sector prospects—and consult experts like JM Financial for bidding guidance and market

FAQs:-

Q1: What is the minimum investment for Euro Pratik Sales IPO?
A: 60 shares per lot, starting at ₹14,100.

Q2: Is the IPO raising fresh funds for the company?
A: No, all funds go to selling shareholders via Offer For Sale.

Q3: How does the company compare to peers?
A: Euro Pratik stands out for asset-light distribution and strong brand presence.

Q4: Should I expect big listing gains?
A: Current GMP is flat, so initial gains may be limited; consider fundamentals and long-term story.

Q5: Where can I bid for the IPO?
A: Online via JM Financial’s portal or other major brokers; use UPI for secure payment.

Q6: Who manages the IPO process?
A: Axis Capital and DAM Capital Advisors are lead book-runners, with MUFG Intime as the registrar.