Evans Electric Limited IPO Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022Let’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.
- Issue Price of this IPO is Rs 52 . Check the Live Share Price here Evans Electric Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Evans Electric IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 7.9/10 |
| Star Ratings | ★★★★☆ |
Summary of Evans Electric IPO
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.
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 Desouza. The 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 / Date | NII | RII | Total Subscription |
| 1st Day – Apr 30 | 0.00x | 0.03x | 0.02x |
| 2nd Day – May 1 | 0.00x | 0.03x | 0.02x |
| 3rd Day – May 2 | 0.27x | 0.15x | 0.21x |
| 4th Day – May 3 | 2.63x | 0.56x | 1.59x |
| Shares Offered or Net Issue | 176,000 | 176,000 | 352,000 |
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 Finalization | 8-May-19 |
| Refunds Initiation | 9-May-19 |
| Credit of Shares to Demat Account | 10-May-19 |
| Share Listing Date | 13-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-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 941.23 | 839.65 | 948.54 | 560.49 |
| Total Revenue | 380.16 | 586.91 | 1,071.58 | 511.65 |
| Total Expense | 279.68 | 518.35 | 727.66 | 452.47 |
| Profit After Tax | 69.95 | 46.30 | 236.69 | 41.48 |
Earnings per Equity Share (in lakhs)
| 31-Sept-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 6.99 | 4.63 | 23.67 | 4.15 |
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 Portion | Not 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 Issue | 10,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | Upto 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 EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-16 | 4.15 | 9.37 | – |
| 31-Mar-17 | 23.67 | 35.47 | – |
| 31-Mar-18 | 4.63 | 6.55 |
70.72 |
- Price to Earnings (P/E) ratio in relation to Issue Price of face value Rs. 10:
| Particulars | P/E ratio |
| Highest | NA |
| Lowest | NA |
| Average | NA |
- 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: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com 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:ipo@bigshareonline.com 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 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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Evans Electric IPO News
News 1 – IPO ISSUE OPENS SOON [Download Prospectus]
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