This is a public announcement for information purposes only and does not constitute an offer to acquire the securities. Not for release, publication or distribution, directly or indirectly outside India.
	EPW INDIA LIMITED
	Corporate Identification Number: U95111TG2021PLC150671

Our Company was originally incorporated as EPW India Private Limited on April 16, 2021 under the Companies Act, 2013 vide certificate of incorporation issued by the Registrar of Companies/ Central Registration Centre, Manesar. Subsequently, the name of the company was changed from "EPW India Private Limited" to "EPW India Limited" under The Companies Act, 2013 pursuant to a special resolution passed by our shareholders at the Extra-Ordinary General Meeting held on November 25, 2024 and had obtained fresh certificate of incorporation dated December 26, 2024 issued by the Registrar of Companies/ Central Processing Centre, Manesar. For details pertaining to the changes of name of our company, please refer to the chapter titled "History and Corporate Structure" on page no. 190 of the Prospectus.

INITIAL PUBLIC ISSUE OF UP TO 32,79,600 EQUITY SHARES OF FACE VALUE OF RS.5/- EACH OF EPW INDIA LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS.97/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS.92/- PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO RS.3181.21 LAKHS ("THE ISSUE"), OF WHICH 1,64,400 EQUITY SHARES OF FACE VALUE OF RS.5/- EACH FOR CASH AT A PRICE OF RS.97/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS.92/- PER EQUITY SHARE AGGREGATING TO RS.159.47 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. NET ISSUE OF 31,15,200 EQUITY SHARES OF FACE VALUE OF RS.5/- EACH AT A PRICE OF RS.97/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS.92/- PER EQUITY SHARE AGGREGATING TO RS.3021.74 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 28.57% AND 27.14%, RESPECTIVELY, OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE FACE VALUE OF THE EQUITY SHARES IS RS.5/- EACH.

a. Our company may be adversely affected by our dependence on IT Supplies, exposure to price volatility, and the absence of long-term supply contracts.

b. We do not own the premises in which our registered office is located and the same are on lease arrangement. Any termination of such lease/ license and/ or non-renewal thereof and attachment by Property Owner could adversely affect our operations.

c. Inability to effectively manage inventory levels and fluctuations in prices of key components used in the refurbishment process may increase our operational costs and adversely impact our business, profitability and cash flows

d. Our Company's business model is highly dependent on a reliable and efficient supply chain for the procurement of used laptops, components and other materials necessary for the refurbishment process. Any disruption in this supply chain may have a significant negative impact on the Company's operations, production schedules, and financial performance.

e. We may not be able to successfully manage the growth of our business if we are unable to maintain adequate internal systems, processes and controls.

The details of issuance of Equity Shares or convertible securities, excluding shares issued under issuance of bonus shares and subdivision of shares, during the 18 months preceding the date of the Red Herring Prospectus, where such issuance is equal to or more than 5% of the fully diluted paid-up share capital of the Company (calculated based on the pre-issue capital before such transaction(s)), in a single transaction or multiple transactions combined together over a span of 30 days, are as follows:

The details of secondary sale/ acquisition of whether equity shares or convertible securities, where the promoter, members of the promoter group, selling shareholders, or shareholder(s) having the right to nominate director(s) in the board of directors of the Company are a party to the transaction (excluding gifts), during the 18 months preceding the date of the Red Herring Prospectus, where either acquisition or sale is equal to or more than 5% of the fully diluted paid up share capital of the Company (calculated based on the pre-issue capital before such transaction(s) and excluding employee stock options granted but not vested), in a single transaction or multiple transactions combined together over a span of rolling 30 days, are as follows:

Since there are no such transactions to report to under (a) and (b) above, therefore, information based on last 5 primary or secondary transactions (secondary transactions where Promoters/ Promoter Group entities or Selling Shareholder or shareholder(s) having the right to nominate director(s) in the Board of our Company, are a party to the transaction) not older than 3 years prior to the date of the Red Herring Prospectus irrespective of the size of transactions, is given below:

The Offer was being made through the Book Building Process, in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (‘SCRR') read with Regulation 253 of the SEBI ICDR Regulations, as amended, wherein not more than 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers (‘QIBs', the ‘QIB Portion'). Our Company in consultation with the Book Running Lead Manager has allocated upto 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (‘Anchor Investor Portion'). Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer was made available for allocation to Individual Investors in accordance with the SEBI (ICDR) Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount (‘ASBA') process providing details of their respective ASBA accounts, and UPI ID in case of Individual Investors using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see ‘Issue Procedure' beginning on page 375 of the Prospectus.

The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to NSE. For the purpose of this Offer, the designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced on or before December 30,2025*

The Issue is being made in compliance with the provisions of Regulation 229(1) and 253 of Chapter IX of the SEBI (ICDR) Regulations, 2018 and through the Book Building Issue. For further details, please refer to chapter titled "Issue Structure" beginning on page 371 of the Prospectus.

All investors have participated in this issue through Application Supported by Blocked Amount ("ASBA") process including through Unified Payment Interface ("UPI") mode (as applicable) by providing the details of the respective bank accounts/ UPI ID as applicable in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs")/ Sponsor Bank as the case may be.

"The bidding for Anchor Investors opened and closed on December 19, 2025. The Company received 3 Anchor Investors applications for 10,36,800 Equity Shares. The Anchor Investor Allocation price was finalized at Rs.97/- per Equity Share. A total of 9,32,400 Equity Shares were allotted under the Anchor Investors portion aggregating to Rs.9,04,42,800/-.

The Offer (excluding Anchor Investors Portion) received 717 Applications for 30,07,200 Equity Shares (after considering invalid bids, Other than RC10 Transaction declined by Investors, RC10 Mandate not accepted by Investors and Withdrawal/ Cancelled Bids reported by SCSB and rejections) resulting 1.28 times subscription (including reserved portion of market maker and excluding anchor investor portion). The details of the Applications received in the Offer from various categories are as under (before rejections):"

Final Demand: A summary of the final demand as per NSE as on the Bid/ Offer Closing Date at different Bid prices is as under:

ALLOCATION: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - National Stock Exchange of India Limited ("NSE EMERGE") on 26.12.2025

1. Allotment to Individual Investor (After Rejection): "The Basis of Allotment to the Individual Investors, who have Bid at cut-off Price or at or above the Offer Price of Rs.97 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 1.28 times. The total number of Equity Shares Allotted in this category is 10,92,000 Equity to 455 successful applicants. The details of the Basis of Allotment of the said category are as under:":

2. Allotment to Non-Institutional Investor (More than Rs.2 Lakhs and upto Rs.10 Lakhs) (After Rejection): "The Basis of Allotment to the Non-Institutional Investor, who have Bid at cut-off Price or at or above the Offer Price of Rs.97 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 2.55 times. The total number of Equity Shares Allotted in this category is 1,60,800 Equity to 44 successful applicants. The details of the Basis of Allotment of the said category are as under:":

3. Allotment to Non-Institutional Investor (More than 10 Lakhs) (After Rejection): "The Basis of Allotment to the Non- Institutional Investor, who have Bid at cut-off Price or at or above the Offer Price of Rs.97 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 1.00 times. The total number of Equity Shares Allotted in this category is 3,07,200 Equity to 18 successful applicants. The details of the Basis of Allotment of the said category are as under:":

4. Allotment to Qualified Institutional Bidders (excluding Anchor Investors) (After Rejection): "The Basis of Allotment to the Qualified Institutional Investors, who have Bid at cut-off Price or at or above the Offer Price of Rs.97 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 1.17 times. The total number of Equity Shares Allotted in this category is 6,22,800 Equity to 2 successful applicants. The details of the Basis of Allotment of the said category are as under:":

5. Allotment to Market Maker (After Rejection): "The Basis of Allotment to the Market Maker, who have Bid at cut-off Price or at or above the Offer Price of Rs.97 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 1.00 times. The total number of Equity Shares Allotted in this category is 1,64,400 Equity to 1 successful applicant. The details of the Basis of Allotment of the said category are as under:":

6. Allotment to Anchor Investor: "The company in consultation with the BRLM has allocated 9,32,400 equity shares to 3 Anchor Investors Issue Price of Rs.97 per equity shares in accordance with SEBI (ICDR) Regulations. This represents upto 60% of QIB:":

BOOK RUNNING LEAD MANAGER	REGISTRAR TO THE ISSUE	COMPANY SECRETARY AND COMPLIANCE OFFICER
Getfive Advisors Private Limited (Formerly Aavanya Advisors Private Limited)	Bigshare Services Private Limited	EPW India Limited
Address: 502, Abhishree Avenue, Nehrunagar, Manekbag, Ahmedabad, Gujarat, India, 380015	Address: S6-2, 6th Floor Pinnacle Business Park, Mahakali Caves Road, next to Ahura Centre, Andheri East, Mumbai- 400093, Maharashtra	Registered Office Address: Shop No. 131 & 132, Ground Floor, C-Block Chenoy Trade Center, Parklane, Hyderabad, Secunderabad, Telangana, India, 500003
Website: www.getfive.in	Website: https://www.bigshareonline.com	Contact Person: Deepika Gupta, Company Secretary and Compliance Officer
SEBI Registration: INM000013147	SEBI Registration: INR000001385	Telephone: +91 79934 39988
		Email: compliance@epwindia.com
		Website: https://epwindia.com

Disclaimer: EPW India Limited has filled the Prospectus dated December 26, 2025, with the Stock Exchange, Registrar of Companies and SEBI. The Prospectus is available on the respective websites of the Book Running Lead Manager at www.getfive.in the website of the NSE at www.nseindia.com and website of the Issuer Company at www.epwindia.com. Investors should note that investment in Equity Shares involves a high risk and for the details relating to the issue, please see "Risk Factors" beginning on page 31 of the Prospectus. The Equity Shares have not been and will not be registered under the U.S. Securities Act 1933, as amended (the "Securities Act") or any state securities laws in the United States and unless so registered, and may not be issued or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being issued and sold outside the United States in ‘offshore transactions' in reliance on Regulation under the Securities Act and applicable laws of each jurisdiction where such Issue and sales are made. There will be no public issuing in the United States.