Powerful Technologies IPO consists of 26,56,000 equity shares, of face value of Rs. 10 for cash at a price of Rs. 51 per equity share aggregating to Rs. 1354.56 lakhs. The Company is into manufacturing of LED TV, LED monitors and mobile power banks.
Let’s have a detailed review of the company and an in-depth analysis of the IPO release date, IPO offer price, Powerful Technologies IPO subscription, Powerful Technologies IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Powerful Technologies IPO Review & Ratings
|Powerful Technologies IPO Ratings & Review|
|Top Brokers Review||6.0/10|
Summary of Powerful Technologies IPO
Company was promoted as an independent manufacturing unit after the initial success of our promoter’s business enterprise Pioneer Computronix Private Limited in 2011, predominantly a trading company, dealing IT products and computer peripherals like key boards, mouse, power supply, mother boards, batteries etc.
The Public Issue of 26,56,000 equity shares of face value of Rs. 10/- each fully paid up of Powerful Technologies Ltd (the “Company” or the “Issuer”) for cash at a price of Rs. 51/- per equity share (the “issue price”) (including a share premium of Rs. 41/- per equity share aggregating to Rs. 1354.56 lakhs (the “issue”) by the company, of which 1,34,000 equity shares of face value of Rs. 10/- each fully paid up will be reserved for subscription by market maker to the issue (“Market Maker reservation portion”). The issue less the market maker reservation portion i.e. issue of 25,22,000 equity shares of face value of Rs. 10/- each fully paid up is hereinafter referred to as the “Net Issue”. The issue and the net issue will constitute 26.50% and 25.17% respectively of the post issue paid up equity share capital of the Company.
Mr. Aditya Gupta, Mrs. Karuna Chhabra and Mr. Nitin Chhabra are the promoters of the company. The Lead manager to the issue is Finshore Management Services Limited and the Registrar to the issue is Big Share Services Private Limited.
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Powerful Technologies IPO Date
The opening and the closing date is from Aug 9, 2018 – Aug 14, 2018.
Powerful Technologies IPO Subscription
|Day 1 – Aug 9, 2018||0.342x|
|Day 2 – Aug 10, 2018||0.42x|
|Day 3 – Aug 13, 2018||0.56x|
|Day 4 – Aug 14, 2018||0.77x|
|Day 5 – Aug 16, 2018||32,84,000|
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Powerful Technologies IPO Allotment Status
The details of allotment of shares made by the company to the public will be updated herein once the company is through with the allotment process.
Powerful Technologies IPO Price Band
The Face Value of the Equity Shares is Rs. 10/- per share and the Issue Price is 5.10 times of the face value i.e.
Rs. 51/- per share.
Powerful Technologies IPO Issue Size
The Public Issue of 26,56,000 equity shares of face value of Rs. 10/- each, for cash at a price of Rs. 51/- per equity share, (including a share premium of Rs. 41/- per equity share aggregating to Rs. 1354.56 lakhs.
Powerful Technologies Limited – Company Overview
The Company manufactures/assembles LED TVs, LED monitors and Power Banks under “Made in India” concept with an aim to turn the country into a global manufacturing hub with world class technology, nominal cost and excellence service. With this venture, our promoters moved from virtual manufacturing in their earlier company to actual manufacturing currently.
Their DTR (Direct to Retailer) project will create big offline direct sales channel for the existing products by
avoiding unhealthy competition, giving more margins to retailers by eliminating the in between chains thereby
creating more interest of the retailers to sell products.
ACPL already has their dealers/retailers network in place for their products, which can be further strengthened with the products being attached, as retailers will be getting a complete basket of feature phones, smart phones, etc.
Powerful Technologies is successful in its business with that of the competitors due to following reasons-
- Company follows good manufacturing practices required to conform to the guidelines recommended by their licensing brands that control the authorization and licensing of the products they manufacture and sell in their brand name. They assure that their products are consistently high in quality and durability for their intended use.
- Company products are available both online and in-store.
- Company has wide distribution network across India.
- Sufficient manufacturing capacity.
- First class customer service is at their core both pre-sales and after sales care.
- They offer customization to their customers at market leading prices.
Powerful Technologies Ltd – 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: (in INR & Lakhs)
|Profit After Tax||622.14||61.08||27.23||-0.12|
Earnings per Equity Share (in Lakh)
From the above statements, one could find that the Powerful Technologies has performed well in the past few years.
Powerful Technologies IPO – Promoters
The Promoter of this company are:Mr. Aditya Gupta, Mr. Nitin Chhabra and Mrs. Karuna Chhabra
The interest of Promoters in the 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 our Company and the dividend declared, if any, by our Company.
The interest of Promoter in the Property of the company
The promoter is not interested in the property of the company ever since the company became a public limited concern. He has not shown any interest in the property of the company.
The interest of Promoter in the Intellectual Rights of the company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Powerful Technologies IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||26,56,000 Equity Shares of face value of Rs. 10/- each fully paid-up of the Company for cash at issue price of Rs. 51/- per Equity Share aggregating Rs. 1354.56 Lakh|
|Reserved for Market Makers||1,34,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share aggregating Rs. 68.34 Lakhs.|
|Net Issue to the Public||25,22,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share aggregating Rs. 1286.22 Lakhs.|
|Net Issue to Public||12,62,000Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share will be available for allocation to investors up to Rs. 2.00 Lakhs|
12,60,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 51/- per Equity Share will be available for allocation to investors above Rs. 2.00 Lakhs
|Equity Shares outstanding prior to the Issue||73,65,716 Equity Shares|
|Equity Shares outstanding after the Issue||1,00,21,716 Equity Shares|
Powerful Technologies IPO Issue Object
The objects of the Issue are:
1. To meet the working capital requirements of the Company;
2. Issue Expenses.
Powerful Technologies IPO – Basis of the Offer Price
The face value of the Equity Share of our Company is Rs. 10/- and Issue Price is 5.10 times the face value. The Issue Price of Rs. 51/- per Equity Share has been determined by the Company.
Qualitative factors are:
- Some of the qualitative factors, which form the basis for computing the price, are –
- Well known licensed Brands in our segments;
- Established and proven track record;
- Leveraging the experience of our Promoters;
- Experienced management team and a motivated and efficient work force;
- Cordial relations with our customers
- Quality Assurance & Control
The relevant quantitative factors are:
|Basic & Diluted EPS||RONW||NAV (Rs.)|
- Comparison of Accounting Ratios with Peer Group Companies – There are no listed companies in India which are solely engaged in same type of business.
- P/E ratio based on Basic EPS for FY 2017-18 is 6.97 and the P/E ratio based on Weighted Average EPS is 12.47.
- STATUTORY AND PEER REVIEW AUDITORS – RPMD & ASSOCIATES
- CHIEF FINANCIAL OFFICER – PALLAVI SHARMA
- LEGAL ADVISOR TO THE ISSUE – J MUKHERJEE & ASSOCIATES
- ADVISOR TO THE COMPANY – APPARENT ADVISORS LLP
Powerful Technologies IPO Lead Managers
|Finshore Management Services Limited|
Anandlok, Block-A, 2nd Floor, Room No. 207,
227 A.J.C. Bose Road, Kolkata-700020, West B
Investor grievance email: info@finshoregroup
Contact Person: Mr. S. Ramakrishna Iyengar
Powerful Technologies IPO Registrar to offer
|Registrar to the Offer|
|Big Share Services Private Limited|
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400059, Maharashtra, India
Tel: +91 22 62638200 , Fax: +91 22 62638299
Contact Person: Mr. Ashok Shetty
Website: www. bigshareonline.com
Powerful Technologies IPO Review by Top 10 Stock Brokers
|Top Stock Brokers Review||Company Reputation||Competitive Edge||Financial Statement||Popularity Index||Promters Reputation|
The ratings would be updated once the financials and the other details of the IPO are released.
Powerful Technologies IPO Grey Market Premium
The Powerful Technologies IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.
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Powerful Technologies IPO News
News 1 – IPO ISSUES OPEN SOON (Download Prospectus)
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