Electro Force India IPO is a fixed price issue of Rs 80.68 crores. The issue is a combination of fresh issue of 60 lakh shares aggregating to Rs 55.80 crores and offer for sale of 26.75 lakh shares aggregating to Rs 24.88 crores.
Electro Force India IPO opens for subscription on December 19, 2023 and closes on December 21, 2023. The allotment for the Electro Force India IPO is expected to be finalized on Friday, December 22, 2023. Electro Force India IPO will list on NSE SME with tentative listing date fixed as Wednesday, December 27, 2023.
Electro Force India IPO price is ₹93 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹111,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹223,200.
First Overseas Capital Limited is the book running lead manager of the Electro Force India IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Electro Force India IPO is Arham Shares.
Refer to Electro Force India IPO RHP for detailed information.
Electro Force India IPO Details
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹93 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 8,674,800 shares (aggregating up to ₹80.68 Cr) |
| Fresh Issue | 6,000,000 shares (aggregating up to ₹55.80 Cr) |
| Offer for Sale | 2,674,800 shares of ₹10 (aggregating up to ₹24.88 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,400,001 |
| Share holding post issue | 23,400,001 |
| Market Maker portion | 435,600 shares Arham Shares |
Electro Force India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Electro Force India IPO Timeline (Tentative Schedule)
Electro Force India IPO opens on December 19, 2023, and closes on December 21, 2023.
| IPO Open Date | Tuesday, December 19, 2023 |
| IPO Close Date | Thursday, December 21, 2023 |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 21, 2023 |
Electro Force India IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹111,600 |
| Retail (Max) | 1 | 1200 | ₹111,600 |
| HNI (Min) | 2 | 2,400 | ₹223,200 |
| Lot Size Calculator |
Electro Force India IPO Promoter Holding
Ayesspea Holdings and Investments Private Limited, Garuda Television Private Limited, and Pravin Kumar Brijendra Kumar Agarwal are the promoters of the company.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 62.93% |
About Electro Force (India) Limited
Incorporated in 2010, Electro Force (India) Limited designs and manufactures electrical components and metal/plastic contact parts for India’s electronics, lighting, switchgear, and allied industries.
Electro Force designs and manufactures stamping components and plastic components by metal stamping, injection molding and insert molding for electrical MCBs (Miniature Circuit Breakers), 63A electrical manual transfer switches, electrical MCCBs & RCBs, brushless DC motors for medical devices/aerospace/defense and automation, electrical motor starters, Electrical Control Gears, and electrical switches.
The company also provides quality testing, packaging, assembly, secondary operations and logistics services.
The company has a leased manufacturing facility in Vasai, Maharashtra, with an area of over 10,000 square feet.
Electro Force (India) Limited Financial Information (Restated)
Electro Force (India) Limited’s revenue decreased by -12.04% and profit after tax (PAT) dropped by -7.48% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 7,827.00 | 7,231.51 | 4,783.37 | 1,719.96 |
| Revenue | 2,314.19 | 3,028.81 | 3,443.55 | 1,587.13 |
| Profit After Tax | 711.08 | 799.60 | 864.26 | -223.69 |
| Net Worth | 2,546.41 | 1,835.33 | 1,035.73 | 171.47 |
| Reserves and Surplus | 806.41 | 95.33 | 535.73 | -328.53 |
| Total Borrowing | ||||
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 20.22 |
| Post P/E (x) | 27.22 |
| ROE | 43.57% |
| ROCE | 58.23% |
| EPS (Rs) | 4.6 |
| RoNW | 43.57% |
Check Electro Force India IPO Peer Comparison here.
Objects of the Issue (Electro Force India IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding additional working capital requirements of the company
- Pursuing Inorganic Growth
- General corporate purposes
Electro Force (India) Limited Contact Details
Electro Force (India) Limited
39/5, Village – Waliv,
Taluka – Vasai East,
Palghar – 401 208
Phone: +91 22 35722456
Email: compliance@electroforceindia.com
Website: https://electroforceindia.com/
Electro Force India IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php