Fixed Price IPO | ₹81 Cr | Listed at NSE SME | Tue, Dec 19, 2023 - Thu, Dec 21, 2023
Electro Force IPO is a fixed price issue of ₹80.68 crores. The issue is a combination of fresh issue of 0.60 crore shares aggregating to ₹55.80 crores and offer for sale of 0.27 crore shares aggregating to ₹24.88 crores.
Electro Force IPO bidding started from Dec 19, 2023 and ended on Dec 21, 2023. The allotment for Electro Force IPO was finalized on Dec 22, 2023. The shares got listed on NSE SME on Dec 27, 2023.
Electro Force IPO price is ₹93 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,11,600 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,23,200.
First Overseas Capital Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Arham Shares Pvt.Ltd..
Refer to Electro Force IPO RHP for detailed Information.
IPO Open
Tue, Dec 19, 2023
IPO Close
Thu, Dec 21, 2023
Issue Price
₹93 per share
Market Cap (Pre-IPO)
₹217.62 Cr
| IPO Date | 19 to 21 Dec, 2023 |
| Listed on | Wed, Dec 27, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹93 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 86,74,800 shares (agg. up to ₹81 Cr) |
| Reserved for Market Maker | 4,35,600 shares Arham Shares Pvt.Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 55,64,400 shares (agg. up to ₹52 Cr) |
| Offer for Sale | 26,74,800 shares of ₹10 (agg. up to ₹25 Cr) |
| Net Offered to Public | 82,39,200 shares (agg. up to ₹77 Cr) |
| Share Holding Pre Issue | 1,74,00,001 shares |
| Share Holding Post Issue | 2,34,00,001 shares |
| NSE Symbol | EFORCE |
| ISIN | INE0Q1W01012 |
Electro Force IPO comprises a total issue size of 86,74,800 shares. The net offer to the public is 82,39,200 shares, after excluding 4,35,600 shares allotted on a firm basis. Of the Net offer 41,19,600 (50.00%) allocated to NII 41,19,600 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 41,19,600 | 50.00% | 47.49% |
| Retail Shares Offered | 41,19,600 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 4,35,600 | 5.02% | |
| Total Shares Offered | 86,74,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,11,600 |
| Retail (Max) | 1 | 1,200 | ₹1,11,600 |
| HNI (Min) | 2 | 2,400 | ₹2,23,200 |
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.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 78.27 | 72.32 | 47.83 | 17.20 |
| Total Income | 23.14 | 30.29 | 34.44 | 15.87 |
| Profit After Tax | 7.11 | 8.00 | 8.64 | -2.24 |
| NET Worth | 25.46 | 18.35 | 10.36 | 1.71 |
| Reserves and Surplus | 8.06 | 0.95 | 5.36 | -3.29 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding additional working capital requirements of the Company | 25.00 |
| 2 | Pursuing Inorganic Growth | 5.50 |
| 3 | General corporate purposes | 13.90 |
| KPI | |
|---|---|
| ROE | 43.57% |
| ROCE | 58.23% |
| RoNW | 43.57% |
| PAT Margin | 26.43% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.60 | |
| P/E (x) | 20.22 | 15.3 |
| Promoter Holding | 100.00% | 62.93% |
| Market Cap | ₹217.62 Cr. |
The Electro Force India IPO is subscribed 4.28 times on December 21, 2023 7:29:00 PM (Day 3). The public issue subscribed 6.44 times in the retail category, [.] times in the QIB category, and 2.12 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.12 | 41,19,600 | 87,28,800 |
| Retail | 6.44 | 41,19,600 | 2,65,41,600 |
| Total | 4.28 | 82,39,200 | 3,52,96,800 |
Total Application : 22,118
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including, underwriting, and selling commissions, brokerages, Advisors to the Company, payment to other intermediaries such as Legal Advisors, Registrars etc. and other out of pocket expense | 11.00 |
| 2 | Advertising and marketing expenses | 0.25 |
| 3 | Printing & Stationery, Distribution, Postage | 0.05 |
| 4 | ROC, Regulatory and other expenses including Listing Fee | 0.10 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹93.00 |
| Open | ₹100.00 |
| Low | ₹95.10 |
| High | ₹105.00 |
| Last Trade | ₹105.00 |
Lead Manager Reports
Electro Force IPO is a SME IPO of 86,74,800 equity shares of the face value of ₹10 aggregating up to ₹81 Crores. The issue is priced at ₹93 per share. The minimum order quantity is 1200.
The IPO opens on Tue, Dec 19, 2023, and closes on Thu, Dec 21, 2023.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Electro Force IPO using UPI as a payment gateway. Zerodha customers can apply in Electro Force IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Electro Force IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Electro Force IPO opens on Tue, Dec 19, 2023 and closes on Thu, Dec 21, 2023.
Electro Force IPO lot size is 1200, and the minimum amount required for application is ₹1,11,600.
You can apply in Electro Force IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Electro Force IPO will be done on Friday, December 22, 2023, and the allotted shares will be credited to your demat account by Tue, Dec 26, 2023. Check the Electro Force IPO allotment status.
The Electro Force IPO listing date is on Wed, Dec 27, 2023.
