Electro Force India IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 21, 2023Let’s have a detailed review of the company and analytics of the Electro Force India IPO release date, IPO offer price, subscription, Electro Force India Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 93 |
| Listing At | NSE, SME |
| Min. Order Quantity | 1200 Shares |
| Listing Date | December 27, 2023 |
| Offer for Sale | Rs 2488 Lakh |
| Fresh Issue | Rs 5580 Lakh |
| IPO Size | Rs 8068 Lakh |
| Tick Size | 1 |
Electro Force India IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Electro Force India Share Price |
Electro Force India IPO – Summary
Their Company was originally incorporated as “ElectroForce (India) Private Limited” on June 14, 2010, vide certification of incorporation bearing Corporate Identity No. U51909MH2010PTC204214 under the provision of the Companies Act, 1956 issued by the Assistant Registrar of Companies, of Mumbai.
The status of the Company was changed to public limited and the name of their Company was changed to Electro Force (India) Limited vide Special Resolution dated April 15, 2023, pursuant to the conversion of the Company into a public limited Company.
The Promoter of this company is YESSPEA HOLDINGS AND INVESTMENTS PRIVATE LIMITED, GARUDA TELEVISION PRIVATE LIMITED AND PRAVIN KUMAR BRIJENDRA KUMAR AGARWAL. The lead manager of the issue is FIRST OVERSEAS CAPITAL LIMITED, and the Registrar of this issue is SKYLINE FINANCIAL SERVICES PRIVATE LIMITED.
Electro Force India IPO Date
The opening and closing dates of Electro Force India IPO are December 19, 2023 and December 21, 2023, respectively.
Electro Force India IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 19th Dec | 0.34x | 1.52x | 0.93x |
| 2nd Day – 20th Dec | 0.59x | 3.45x | 2.02x |
| 3rd Day – 21st Dec | 0.93x | 4.19x | 2.56x |
| Shares Offered or Net Issue | 4,119,600 | 4,119,600 | 8,674,800 |
The shares subscribed by the public will be updated here.
Electro Force India IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Electro Force India Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | December 22, 2023 |
| Refunds Initiation | December 26, 2023 |
| Credit of Shares to Demat Account | December 26, 2023 |
| Share Listing Date | December 27, 2023 |
Electro Force India IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.93
Electro Force India IPO Equity Size
This Initial Public Issue of 8,674,800 Equity Shares of Rs.10 each for cash at a price of Rs.93 per equity share aggregating to Rs.8068 Lakh.
Electro Force India IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 6,000,000 Equity Shares of Rs.10/ each.
Issue Size: 8,674,800 Equity Shares of Rs.10 each, aggregating to Rs.8068 Lakh
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Electro Force India IPO – Live Performance
The listing date of this IPO is December 27, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Electro Force India Share Price |
Electro Force India IPO Grey Market Premium
The Electro Force India Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Electro Force India IPO – Company Overview
Their manufacturing unit is located at Vasai in Maharashtra. They offer end-to-end product solutions to their customers under the B2B model wherein they provide services ranging from designing, manufacturing, quality testing and packaging to logistics.
They also offer products in the intermediate stages to many of our customers. Their main focus has been on offering integrated services, mostly to Indian manufacturers of electrical components. They have the ability to perform precision metal stamping, assembly, and moulding.
They believe that a team of committed qualified and trained experts have led to the success of their Company and while their products conform to high quality standards, what has distinguished them more from their competitors has been their ability to respond quickly, reliably and accurately to customer’s needs.
Electro Force India IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 7,827.00 | 7,231.51 | 4,783.37 | 1,719.96 |
| *Total Revenue | 2,314.19 | 3,028.81 | 3,443.55 | 1,587.13 |
| Total Expense | 1,363.96 | 1,960.28 |
2,384.09
|
1,814.30 |
| Profit After Tax |
711.08
|
799.60
|
864.26
|
(223.69)
|
Earnings per Equity Share (in Lakh)
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
4.09
|
4.60
|
4.97
|
(1.29) |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 799.60 Lakh, Rs. 864.26 Lakh and Rs. (223.69) Lakh respectively.
Electro Force India IPO – Promoters
The Promoter of this company is:
- YESSPEA HOLDINGS AND INVESTMENTS PRIVATE LIMITED,
- GARUDA TELEVISION PRIVATE LIMITED
- PRAVIN KUMAR BRIJENDRA KUMAR AGARWAL
List of Related Parties (Key Managerial Personnel)
- Arvind Sharma, Chairman and-Executive Director
- Saideep Shantaram Bagale, Full-time Director
- Priyanka Yadav, Non-Executive Independent Director
- Dilip Kumar Swarnkar, Non-Executive Independent Director
Electro Force India IPO – Promoters Holding
- Pre-Issue Share Holding – 100.00%
- Post-Issue Share Holding – 62.93%
Electro Force India IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 8,674,800 Equity Shares aggregating up to Rs.8068 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 4,35,600 Equity Shares aggregating up to Rs.405.11 Lakh |
| Net Issue to the Public | Up to 82,39,200 Equity Shares aggregating up to Rs.7,662.45 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 41,19,600 Equity Shares |
| Other than Retail Individual Investors | Not more than 41,19,600 Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,74,00,001 Equity Shares |
| Equity Shares outstanding after the Issue | 2,34,00.001 Equity Shares |
Electro Force India IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
-
Funding additional working capital requirements of their Company;
-
Pursuing Inorganic Growth
-
General corporate purposes.
Electro Force India IPO – Business Strategy
- Operational Effectiveness
- Quality Control
- Invest in infrastructure and technology
- Diversification into new industries
- Entry into new geographies
Electro Force India IPO – Basis of 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 team;
-
High standard of product quality and customer service
-
In-house R&D, tool room and continuous new product development
-
Offering a variety of products to meet the needs of different customers
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
4.60
|
43.57
|
10.55
|
| 31-Mar-22 |
4.97
|
83.44
|
– |
| Mar-21 |
(1.29)
|
(130.45)
|
– |
Electro Force India IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Cr.) | |
| Electro Force India Limited | 10 | 20.22 | 4.60 |
43.57
|
30.29
|
| Listed Peers | |||||
|
Centum Electronics Limited
|
10 | 191.78 | 7.62 |
31.77
|
928.82
|
|
RIR Power Electronics Limited
|
10 | 100.74 |
8.69
|
18.08
|
59.43
|
Electro Force India IPO Lead Managers
| Lead Managers |
| FIRST OVERSEAS CAPITAL LIMITED 1-2 Bhupen Chambers, Dalal Street, Fountain, Mumbai–400 001, Maharashtra, India Tel No.:+91 22 4050 9999Email: mb@focl.in Investor Grievance Email: investorcomplaints@focl.in Website: www.focl.in Contact Person: Mala Soneji/ Rushabh Shroff SEBI Registration No: INM000003671 |
Electro Force India IPO Registrar to offer
| Registrar to the Offer |
| SKYLINE FINANCIAL SERVICES PRIVATE LIMITED D-153 A, 1stFloor, Okhla Industrial Area, Phase -I, New Delhi-110020, India Tel.No.:+91-11-40450193/197 Email:ipo@skylinerta.com Investor Grievance Email:grievances@skylinerta.com Website: www.skylinerta.com ContactPerson:Anuj Rana SEBIRegistrationNo.:INR000003241 |
Electro Force India IPO – Other Details
- Statutory Auditor – M/s. Mittal Agarwal & Company, Chartered Accountants
- Legal Counsel to the Company – R & J Associates
- Bankers to the Company – The Federal Bank Limited
Electro Force India IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Electro Force India Limited IPO News
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News 2 – IPO RHP Prospectus Download
Electro Force India IPO Review FAQs
Check out various FAQs related to Electro Force IPO:
What is the Issue Size of Electro Force IPO?
The Company is making an initial public offer of 8,674,800 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Electro Force IPO?
The price band for this particular IPO ranges between Rs 93. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Electro Force India IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 19, 2023, while the closing date is set at December 21, 2023.
What is the Electro Force India IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 22, 2023, refund initiation is on December 26, 2023, credit of shares is on December 26, 2023, and share listing date is on December 27, 2023.
What is the Electro Force IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 27, 2023. The date, when the listing would be done, is stagnant on December 27, 2023.
Who is the Registrar of Electro Force IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. SKYLINE FINANCIAL SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Electro Force IPO?
Here are the promoters of this IPO – YESSPEA HOLDINGS AND INVESTMENTS PRIVATE LIMITED, GARUDA TELEVISION PRIVATE LIMITED AND PRAVIN KUMAR BRIJENDRA KUMAR AGARWAL. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Electro Force IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Electro Force IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Electro Force India Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 799.60, 2022 is 864.26, and 2021 is (223.69). PAT from Sep 2023 is 711.08.
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