The initial public offering (IPO) of Euro Pratik Sales kicks-off for bidding on Tuesday, September 16. The home decors player is selling its shares in the range of Rs 235-247 apiece, with a lot size of 60 equity shares and its multiples thereafter.
The issue shall close for bidding on Thursday, September 16, 2025.
Euro Pratik Sales is raising a total of Rs 451.31 crore via its primary stake sale, which is entirely an offer-for-sale (OFS) by promoters and promoter group shareholders of up to 1,82,71,862 equity shares. The company will not receive any proceeds from the issue as the entire portion will go to the selling shareholders.
Incorporated in 2010, Euro Pratik Sales is engaged in the business of decorative wall panel and decorative laminates industry as a seller and marketer of Decorative Wall Panels and Decorative Laminates. It creates unique design templates for Decorative Wall Panels and Laminates, aligning with modern architectural trends, and was recognized as an innovator for products.
Euro Pratik Sales mobilised Rs 134.97 crore from anchor investors as its allotted over 54.64 lakh equity shares at Rs 247 per share. Its anchor book included names like Ashish Kacholia-backed Bengal Finance and Investment, 360 One group, Motilal Oswal Mutual Fund, Alchemy Capital Management, Nuvama Wealth, Turnaround Opportunities Fund, Neo Asset Management and more.
For the financial year ended on March 31, 2025, Euro Pratik Sales reported a net profit of Rs 76.44 crore with a revenue of Rs 291.52 crore. The company clocked a bottomline of Rs 62.91 crore with a revenue of Rs 230.11 crore for the year 2023-24. The company commands a market capitalization around Rs 2,525 crore.
The company has reserved 50 per cent of the net offer for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 15 per cent of allocation. Retail investors have 35 per cent of allocation in this IPO. Eligible employees will get a discount of Rs 13 per share.
Axis Capital and DAM Capital Advisors are the book running lead managers and MUFG Intime India is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE with Tuesday, September 23 as the tentative date of listing. Here’s what a host of brokerage firms say about the IPO of Euro Pratik Sales:
SBI Securities
Rating: Subscribe for long-term
The IPO is valued at a P/E multiple of 32.9 times on post issue capital. The business operates on an asset light model thus helping it to generate Ebitda margin of 35 per cent plus and ROE of above 30 per cent. While performance was muted in the last 3 years due to unfavorable industry supply-demand dynamics, the outlook appears attractive with rising share of the organized market, said SBI Securities.
“Euro Pratik Sales operates a unique business mode with no like-to-like peers. Based on the company’s strong return metrics, extensive distribution network and comprehensive product portfolio, we recommend investors ‘subscribe’ to the issue for a long-term investment horizon,” it added.
Arihant Capital Markets
Rating: Subscribe for long-term
Euro Pratik operates on an asset-light, scalable business model by outsourcing manufacturing to 36 contract partners across India, South Korea, and China, enabling it to focus on design, branding, and marketing while minimizing capital expenditure and operational risks, with flexibility to scale production as demand grows, said Arihant Capital with a ‘subscribe for long term’ rating.
KR Choksey Finserv
Rating: Neutral
Euro Pratik Sales plans to expand both domestically and internationally in selected markets, through the setup of additional distributors to capitalize on growing demand for quality, premium and luxury home interiors. It has witnessed a strong revenue growth, while the Ebitda margins have improved from sub 30 per cent range to 35.7 per cent in FY25, said KR Choksey Finserv.
“Euro Pratik’s initial issue is priced at 32.9 times TTM P/E, similar to listed peers in the ceramics and paints industry. With stronger revenue growth and higher Ebitda margin profile, we expect it to deliver stronger financial growth, driven by stronger demand across end sectors. We assign a ‘neutral’ rating to the issue,” it added.
Ventura Securities
Rating: Subscribe
Euro Pratik’s financial performance has been strong, with impressive operational metrics. The company demonstrated a strong profitability. The company’s debt-to-equity ratio remains low, reflecting its strong financial health. With its focus on quality, design, and innovation, Euro Pratik continues to lead in the decorative wall panel market, said Ventura Securities.
“Euro Pratik Sales is committed to sustainable growth, driven by strategic acquisitions and an expanding product portfolio in the decorative panels industry. Its diversified approach, both in terms of product offerings and market reach, ensures a resilient business model capable of navigating industry shifts,” it added.
Marwadi Financial Services
Rating: Subscribe with caution
“We assign a ‘subscribe with caution’ rating to this IPO given the company’s position as one of India’s leading organized decorative wall panel brands and its asset-light business model supported by global long-term partnerships,” it Marwadi Financial Services. “However, negative net cash flows from operating activities in FY25 make us cautious from a long-term investment perspective.”
BP Equities
Rating: Subscribe
Given its market leadership, differentiated product offerings, strategic expansion, and ability to capitalise on industry trends, the company provides long-term growth visibility, said BP Equities. “At the upper price band, the company is valued at a P/E multiple of 32.8 times FY25 earnings. We, thus, recommend a ‘subscribe’ rating for this issue,” it said.