Electra Accumulators Limited IPO – Review, Allotment, Subscription, GMP & more

Electra 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
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Electra Accumulators Limited  IPO

Electra Accumulators Limited  IPOElectra 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 .


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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 / DateQIBNIIRIITotal 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-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets7364.44926.64749.33733.232447.7
Total Revenue7384.65201.885187.117326.554091.75
Total Expense6634.3251.4.645122.877258.74.38.19
Profit After Tax500.0763.5243.9644.8144.49

Earnings per Equity Share (in Lakhs)

31-Mar-1831-Mar-1731-Mar-16
Basic & Diluted6.540.830.58

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:

  1. Chetan Sanghvi 
  2. 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 Issue76,45,000 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

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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 EPSRONW (%)NAV (Rs.)
31-Mar-160.585.31
31-Mar-170.837.12
31-Mar-186.5435.9318.21
  • Industry P/E Ratio:
ParticularsP/E ratio
Average30.48
Highest33.30
Lowest27.66
  • Competitive Peers:
ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
Exide Industries Limited1.007.8633.3112.4063.40
Amara Raja Batteries Limited1.0027.5927.6316.05171.98

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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:
Investor Grievance Id:
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:
Investor Grievance Id:
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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

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. 


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Electra Accumulators Limited IPO News

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