Electra Accumulators Limited IPO – Review, Allotment, Subscription, GMP & more
Last Updated Date: Nov 16, 2022Electra Accumulators Limited being engaged in batteries industry which is largely dominated by unorganized sector competing on pricing, supplying qualitative products is of utmost importance in the industry and the company strives to ensure that it adheres to quality standards. Electra Accumulators Limited IPO comprises of 41,18,000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Electra Accumulators Limited IPO release date, IPO offer price, subscription, Electra Accumulators Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Electra Accumulators Limited IPO Review & Ratings
| Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Electra Accumulators Limited IPO
Electra Accumulators Limited believe in manufacturing and delivering quality products and their manufacturing process is under constant supervision by Engineers. The Company is dedicated towards supply of quality products by controlling the procurement of standard raw material, monitoring the 170 process parameters, maintaining appropriate measures to manage hazardous materials and to comply with applicable statutory and regulatory requirements of products. The Issue comprises of a Public Issue of 41,18,000 Equity shares of face value of Rs.10.00 each fully paid up.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 42.19% and 0.40%, respectively.
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 7378.69 Lakhs, Rs. 5188.96 Lakhs and Rs. 5167.76 Lakhs, respectively representing growth of 42.19% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2017, FY 2016-17 and FY 2015-16 our net profit was Rs. 750.54 Lakhs, Rs. 96.54 Lakhs and Rs. 64.24 Lakhs, respectively, representing a growth of 99.84 % from the FY 2015-16 to FY 2016-17.
- During the financial year 2017-18 the Other Income of our company increased to Rs. 6.17 Lakhs as against Rs. 12.22 Lakhs for the financial year 2016-17, representing increase by 98.55% due to increase in interest income & insurance claim in FY 2017- 18.
- Company’s Net Profit after tax for the year 2016-17 is Rs. 500.07 Lacs from the year 2015-16 of Rs. 63.52 Lacs showing an increase of 687.26% from last year, showing remarkable performance.
The Promoter of this company is Chetan Sanghvi and Bhaumik Sanghvi. The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Link Intime India Private Limited .
Open Free* Demat A/C Now! Fill the details below
Electra Accumulators Limited IPO Date
The opening and the closing date of IPO of Electra Accumulators Limited is not known yet.
Electra Accumulators Limited IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 | ||||
| Day 2 | ||||
| Day 3 | ||||
| Day 4 | ||||
| Day 5 |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Electra Accumulators Limited IPO Allotment Status
The Allotment of specified securities to each RII shall not be less than the minimum Bid Lot, subject to availability of shares in the RII category, and the remaining available shares, if any, shall be Allotted on a proportionate basis.The Issuer is required to receive a minimum subscription of 90% of the Offer (excluding any Offer for Sale of specified securities). However, in case the Offer is in the nature of Offer for Sale only, then minimum subscription may not be applicable.
Electra Accumulators Limited IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Electra Accumulators Limited IPO Equity Share Offering
41,18,000 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .
Electra Accumulators Limited Limited – Company Overview
Electra Accumulators Limited Incorporated in the year 2009, the Company has established themselves as a brand, manufacturing wide range of Automotive, Inverter, E-Vehicle and solar batteries. They are mainly engaged in manufacturing of lead acid batteries which are used in Automotive, Inverter, E-vehicle and Solar industries under the brand name of “Electra” and “Geo Power.The Company is dedicated towards supply of quality products by controlling the procurement of standard raw material, monitoring the 170 process parameters, maintaining appropriate measures to manage hazardous materials and to comply with applicable statutory and regulatory requirements of our products.
The Company has in-house testing laboratory to test raw materials to match the quality standards. Before commencement of the manufacturing process, the raw materials purchased by the Company have to undergo a quality check, to ensure that they are of relevant quality and match the standards as specified.
The Company is promoted by Chetan Sanghvi and Bhaumik Sanghvi and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Electra Accumulators Limited Limited:
- Experienced Management and
- Employees Strong customer relationship
- Locational Advantage
- Focus on Quality
Business strategies of Electra Accumulators Limited Limited:
- Improving operational efficiency
- Expanding our retail customer base
- Geographical Expansion
- Optimum capacity utilisation
Electra Accumulators Limited Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 7364.4 | 4926.6 | 4749.3 | 3733.23 | 2447.7 |
| Total Revenue | 7384.6 | 5201.88 | 5187.11 | 7326.55 | 4091.75 |
| Total Expense | 6634.32 | 51.4.64 | 5122.87 | 7258.7 | 4.38.19 |
| Profit After Tax | 500.07 | 63.52 | 43.96 | 44.81 | 44.49 |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 6.54 | 0.83 | 0.58 |
From the above statements, one could find that the Electra Accumulators Limited Limited may perform well.
Electra Accumulators Limited IPO – Promoters
The Promoter of this company are:
- Chetan Sanghvi
- Bhaumik Sanghvi
List of Related Parties (Key Managerial Personnel)
- Rashmi Chauhan, Company Secretary
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Electra Accumulators Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Upto 41,18,000 Equity Shares* of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●]/- per Equity share aggregating to Rs. [●] Lakhs(2). |
| Of which: | |
| Reserved for Market Makers | [●] Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●] /- per Equity share aggregating to Rs. [●] Lakhs |
| Net Issue to the Public | [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at a price of Rs. [●] /- per share aggregating Rs. [●] Lakhs |
| Of which: | |
| Retail Investors Portion | [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company at a cash price of Rs. [●]/- per Equity share aggregating Rs. [●] Lakhs will be available for allocation to Investors up to Rs. 2.00 Lakhs |
| Non-Retail Investors Portion | [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of [●]/- per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors above Rs. 2.00 Lakhs |
| Equity Shares outstanding prior to the Issue | 76,45,000 Equity Shares of face value of Rs.10 each |
| Equity Shares outstanding after the Issue | [●] Equity Shares of face value of Rs.10 each |
Electra Accumulators Limited IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of our Company:
- Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions
by our company; and - General Corporate Purposes
Electra Accumulators Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Management and employees;
- Strong customer relationship
- Locational advantage
- Focus on quality
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 0.58 | 5.31 | – |
| 31-Mar-17 | 0.83 | 7.12 | – |
| 31-Mar-18 | 6.54 | 35.93 | 18.21 |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Average | 30.48 |
| Highest | 33.30 |
| Lowest | 27.66 |
- Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| Exide Industries Limited | 1.00 | 7.86 | 33.31 | 12.40 | 63.40 |
| Amara Raja Batteries Limited | 1.00 | 27.59 | 27.63 | 16.05 | 171.98 |
Manorama Industries IPO Lead Managers
| Lead Managers |
| PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED 406-408, Keshava Premises, Behind Family Court, Bandra Kurla Complex, Bandra East, Mumbai – 400 051, Maharashtra, India Tel: +91-22 6194 6700; Fax: +91-22 2659 8690 Website:www.pantomathgroup.com Email: ipo@pantomathgroup.com Investor Grievance Id: ipo@pantomathgroup.com Contact Person: Hardik Bhuta / Unmesh Zagade SEBI Registration No: INM000012110 |
Electra Accumulators Limited IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, India Tel: +91 22 49186200; Fax: +91 22 4918 6195 Website: www.linkintime.co.in Email: electra.ipo@linkintime.co.in Investor Grievance Id: electra.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Other Details:
- Statutory Auditor – M/s. Anil Bansal & Associates, Chartered Accountants
- Peer Review Auditor -M/s Anil Bansal & Associates, Chartered Accountants
- Bankers to the Company – Union Bank of India
Electra Accumulators Limited IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
Electra Accumulators Limited IPO Grey Market Premium
The Electra Accumulators Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Open Free* Demat A/C Now! Fill the details below
Electra Accumulators Limited IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Market Guide
Featured Topics