Fixed Price IPO | ₹26 Cr | Listed at NSE SME | Mon, Sep 17, 2018 - Fri, Sep 21, 2018
Spectrum Electrical IPO is a fixed price issue of ₹25.87 crores. The issue is entirely a fresh issue of 0.40 crore shares of ₹25.87 crore.
Spectrum Electrical IPO bidding started from Sep 17, 2018 and ended on Sep 21, 2018. The shares got listed on NSE SME on Oct 1, 2018.
Spectrum Electrical IPO price is ₹65 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,30,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,60,000.
Arihant Capital Markets Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Arihant Capital Markets Ltd..
Refer to Spectrum Electrical IPO RHP for detailed Information.
IPO Open
Mon, Sep 17, 2018
IPO Close
Fri, Sep 21, 2018
Issue Price
₹65 per share
Market Cap (Pre-IPO)
₹98.28 Cr
| IPO Date | 17 to 21 Sep, 2018 |
| Listed on | Mon, Oct 1, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹65 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 39,80,000 shares (agg. up to ₹26 Cr) |
| Reserved for Market Maker | 2,00,000 shares Arihant Capital Markets Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 37,80,000 shares (agg. up to ₹25 Cr) |
| Net Offered to Public | 37,80,000 shares (agg. up to ₹25 Cr) |
| Share Holding Pre Issue | 1,11,39,840 shares |
| Share Holding Post Issue | 1,51,19,840 shares |
| NSE Symbol | SPECTRUM |
| ISIN | INE01EO01010 |
Spectrum Electrical IPO comprises a total issue size of 39,80,000 shares. The net offer to the public is 37,80,000 shares, after excluding 2,00,000 shares allotted on a firm basis. Of the Net offer 18,90,000 (50.00%) allocated to NII 18,90,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 18,90,000 | 50.00% | 47.49% |
| Retail Shares Offered | 18,90,000 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,00,000 | 5.03% | |
| Total Shares Offered | 39,80,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,30,000 |
| Retail (Max) | 1 | 2,000 | ₹1,30,000 |
| HNI (Min) | 2 | 4,000 | ₹2,60,000 |
Incorporated in 2008, Jalgaon (Maharashtra) based Spectrum Electrical Industries Limited is a company engaged in the business of design and manufacturing of electrical, automobile and irrigation components. The company is a contract manufacturer and component suppliers to leading industry players.
Spectrum Electrical offers end-to-end product solutions to its customers under the B2B model. It provides services ranging from global sourcing, manufacturing, quality testing and packaging to logistics. The company also offers products in the intermediate stages to its customers.
The manufacturing unit of the company is located at Jalgaon & Nashik, Maharashtra.
The company's turnover in fiscal 2017, 2016 and 2015 are 10,020.41 lakhs, 9,503.07 lakhs, and 8,085.99 lakhs respectively.
The PAT for fiscal 2017, 2016 and 2015 are 349.70 lakhs, 247.04 lakhs, and 184.66 lakhs.
The company has 370 full-time employees on its payroll.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To set up a Zinc Plating plant at Umale | 7.50 |
| 2 | To meet long term working capital requirements | 10.00 |
| 3 | General Corporate Purposes | 5.87 |
The Spectrum Electrical IPO is subscribed 1.27 times on September 21, 2018 6:00:01 PM (Day 5). The public issue subscribed 0.56 times in the retail category, [.] times in the QIB category, and 1.99 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.99 | 18,90,000 | 37,56,000 |
| Retail | 0.56 | 18,90,000 | 10,52,000 |
| Total | 1.27 | 37,80,000 | 48,08,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees to intermediaries (including Lead Managers fees, underwriting commission, market making fees, brokerage and selling commission, registrar fees and expenses) | 1.75 |
| 2 | Printing & Stationery, postage / courier expenses | 0.10 |
| 3 | Expenses towards marketing, advertising and publicity | 0.40 |
| 4 | Regulatory fee; Out of pocket and other misc expenses | 0.25 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹65.00 |
| Open | ₹64.50 |
| Low | ₹63.25 |
| High | ₹66.50 |
| Last Trade | ₹65.50 |
Lead Manager Reports
Spectrum Electrical IPO is a SME IPO of 39,80,000 equity shares of the face value of ₹10 aggregating up to ₹26 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 2000.
The IPO opens on Mon, Sep 17, 2018, and closes on Fri, Sep 21, 2018.
Bigshare 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 Spectrum Electrical IPO using UPI as a payment gateway. Zerodha customers can apply in Spectrum Electrical IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Spectrum Electrical IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Spectrum Electrical IPO opens on Mon, Sep 17, 2018 and closes on Fri, Sep 21, 2018.
Spectrum Electrical IPO lot size is 2000, and the minimum amount required for application is ₹1,30,000.
You can apply in Spectrum Electrical 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 Spectrum Electrical IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Spectrum Electrical IPO allotment status.
The Spectrum Electrical IPO listing date is on Mon, Oct 1, 2018.
