Evans Electric Limited IPO Review, Allotment, Subscription, GMP & DRHP

Let’s have a detailed review of the company and analytics of the Evans Electric IPO release date, IPO offer price, subscription, Evans Electric IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Evans Electric Limited is engaged is engaged in the business of repairing, re-winding and re-designing including in-house manufacturing of replacement components. 


Evans Electric IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings7.9/10
Star Ratings★★★★☆

Summary of Evans Electric IPO

Evans Electric Limited IPOEvans Electric Limited is engaged in the business of repairing, re-winding and re-designing including in-house manufacturing of replacement components of small, medium and large electric motors, generators and transformers, which are used in Thermal, Hydro, Diesel, Gas & Nuclear Electric Power Generation, Petroleum Refineries, Chemicals & Fertilizers, Cement Plants, Steel Plants, Tyre Manufacturing, Sugar Mills, Oil & Gas Exploration, Shipping, Mining and Railway Traction. 

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,

  • As per Restated Financial statements for the six (6) months period ended September 30, 2018 and fiscal 2018, 2017 and 2016, the total revenues were 380.16 lakhs, Rs 586.91 lakhs, Rs 1071.58 lakhs, and Rs 511.65 lakhs, respectively.
  • The net asset value per Equity Share was Rs. 77.72 and Rs. 70.72 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Financial Statements.
  • The net worth of the Company was Rs. 777.18 lakhs and Rs. 707.23 lakhs as of Dec 30, 2018 and March 31, 2018, respectively, as per the Restated Financial Statements.
  • Profit after Tax for the similar period mentioned above was Rs 69.95 lakhs, Rs 46.30 lakhs, Rs 236.69 lakhs, and Rs 41.48 lakhs, respectively.

The Promoter of this company is Mr. Ivor Anthony DesouzaThe lead manager of the issue is HEM Securities Limited and the Registrar to this issue is Bigshare Services Private Limited



Evans Electric IPO Date

The opening and the closing date of Evans Electric IPO is Apr 30, 2019 – May 3, 2019.


Evans Electric IPO Subscription

Day / DateNIIRIITotal Subscription
1st Day – Apr 300.00x0.03x0.02x
2nd Day – May 10.00x0.03x0.02x
3rd Day – May 20.27x0.15x0.21x
4th Day – May 32.63x0.56x1.59x
Shares Offered or Net Issue176,000176,000352,000

The shares subscribed by the public will be updated here.


Evans Electric IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Basis of Allotment Finalization8-May-19
Refunds Initiation9-May-19
Credit of Shares to Demat Account10-May-19
Share Listing Date13-May-19

Evans Electric IPO Price Band

The cash price of the Equity Shares Rs 52/-.


Evans Electric IPO Equity Share Offering

The Issue of 3,72,000 Equity Shares of Rs.10 each fully paid-up of the Company for cash at a price of Rs. 52 per Equity Share aggregating to Rs. 1.93 Crores. Listed at BSE SME


Evans Electric Limited – Company Overview

Evans Electric Limited is engaged in the business of repairing, re-winding and re-designing including in-house manufacturing of replacement components of small, medium and large electric motors, generators and transformers, which are used in Thermal, Hydro, Diesel, Gas & Nuclear Electric Power Generation, Petroleum Refineries, Chemicals & Fertilizers, Cement Plants, Steel Plants, Tyre Manufacturing, Sugar Mills, Oil & Gas Exploration, Shipping, Mining and Railway Traction.

They provide contract based services for repairing of various electric products which includes low Voltage and High Voltage AC and DC Electric Motors, Generators and Transformers, Turbo Generator Stators, Turbo Rotors (including high speed balancing), Hydro Generator Stators, Hydro Rotors and Field poles, also included are Dynamic balancing, Vacuum Impregnation, High Voltage Coil Manufacturing, RLA studies, Vibration Reduction, Diagnostic Testing, Machining, Fabrication and allied services.

Their factory unit ad measuring to 30,000 sq. ft. located in Palghar, Maharashtra which is used for providing re-winding and repairing services as well as for manufacturing replacement components. They also provide on-site services for large Electric Motors, Generators and Transformers that are too large and cannot be transported to the Factory.

Competitive Strengths of Evans Electric Limited:

  • Versatility in taking on the most complex machines irrespective of Capacity, Size, Design or Country of manufacture
  • Experienced Promoter Management team supported by skilled work force
  • Substantial space for Factory site with infrastructure required for business needs
  • Customer centric approach and focus on customer satisfaction
  • Quality Compliance

Business strategies of Evans Electric Limited:

  • Increasing the international market presence
  • Continue to focus on optimal utilization of resources
  • Attract and retain talented employee

Evans Electric 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-Sept-1831-Mar-1831-Mar-1731-Mar-16
Total Assets941.23 839.65 948.54 560.49
Total Revenue380.16 586.911,071.58 511.65
Total Expense279.68 518.35 727.66 452.47
Profit After Tax69.9546.30236.6941.48

Earnings per Equity Share (in lakhs)

31-Sept-1831-Mar-1831-Mar-1731-Mar-16
Basic & Diluted6.994.6323.674.15

From the above statements, one could find that the Evans Electric Limited may perform well.


Evans Electric IPO – Promoters

The Promoter of this company is:

  • Mr. Ivor Anthony Desouza

List of Related Parties (Key Managerial Personnel)

  • Nelson Lionel Fernandes : Managing Director
  • Iyleen Matilda Fernandes : Whole time Director
  • Rajkumar Mohan Keswani : Chief Financial Officer
  • Deepak Y Patil Designation: Company Secretary and Compliance Officer

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.


Evans Electric IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares Offered Issue of 3,72,000 Equity Shares of Rs.10 each fully paid-up of the Company for cash at a price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs.
 Of which:
 Reserved for Market Makers [●] Equity Shares 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 2560000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 30/- each
aggregating to Rs. 768.00 Lakh
 Of which:
 Retail Investors Portion At least [●] Equity Shares of Rs. 10 each fully paid-up of the Company for cash at a price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs will be available
for allocation to Retail Individual Investors (
 Non-Retail Investors PortionNot more than [●] Equity Shares of Rs. 10 each fully paid-up of the Company for cash at a price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs will be available for allocation to investor other than Retail Individual Investors including Non- Institutional Investors and Qualified Institutional Buyers (b)
 Equity Shares outstanding prior to the Issue10,00,000 Equity Shares
 Equity Shares outstanding after the IssueUpto 13,72,000 Equity Shares of face value of Rs. 10 each

Evans Electric IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
  •  General Corporate Purposes

Evans Electric 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:

  • Versatility in taking on the most complex machines irrespective of Capacity, Size, Design or Country of manufacture
  • Experienced Promoter Management team supported by skilled work force
  • Substantial space for Factory site with infrastructure required for business needs
  • Customer centric approach and focus on customer satisfaction
  • Quality Compliance

The relevant quantitative factors are:

Basic & Diluted EPSRONW in %NAV (Rs.)
31-Mar-164.159.37
31-Mar-1723.6735.47
31-Mar-184.636.55
70.72
  • Price to Earnings (P/E) ratio in relation to Issue Price of face value Rs. 10:
ParticularsP/E ratio
HighestNA
LowestNA
AverageNA
  • Competitive Peers:

They believe that there are no listed companies which are operating in all the business segments as of their Company.


Evans Electric IPO Lead Managers

Lead Managers
HEM SECURITIES LIMITED
904,A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel,
Mumbai-400013, India Tel. No.: +91- 022- 49060000
Fax No.: +91- 022- 22625991
Website: www.hemsecurities.com
Email:
Investor Grievance Email:
Contact Person :Mr. Anil Bhargava
SEBI Regn. No. INM000010981

Evans Electric IPO Registrar to offer

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED
Address:-1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis Makwana Road,
Marol, Andheri East, Mumbai – 400059
Tel No.:+91-022-62638200 Fax No.: +91-022-62638299
Website:www.bigshareonline.com
Email:
Contact Person: Mr. Ashok Shetty
SEBI Regn. No.: INR000001385

Other Details:

  • Statutory Auditor – M/s Anay Gogte & Co.
  • Peer Review Auditor – M/s Anay Gogte & Co.
  • Bankers to the Company – Union Bank of India.

Evans Electric IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Evans Electric IPO Grey Market Premium

The Evans Electric 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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