Spectrum Electrical IPO – Review, Allotment, Subscription, GMP & DRHP

Spectrum Electrical focus has been on providing one-stop-shop solutions mainly to manufacturers of electrical products and components in India. The Company offer integrated design and manufacturing solutions for local and internationally recognized brands in the electrical products industry. Spectrum Electrical IPO comprises of 39,80,000 Equity shares, face value of Rs.10 each.

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


Spectrum Electrical IPO Review & Ratings

Spectrum Electrical IPO 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 Spectrum Electrical IPO

Spectrum Electrical IPOSpectrum Electrical focus has been on providing one-stop-shop solutions mainly to manufacturers of electrical products and components in India. The Company offer integrated design and manufacturing solutions for local and internationally recognized brands in the electrical products industry.The Company offer end-to-end product solutions to their customers under the B2B model wherein they provide services ranging from global sourcing, manufacturing, quality testing and packaging to logistics. The Company also offer products in the intermediate stages to many of their customers. Spectrum Electrical IPO comprises of 39,80,000 Equity shares, face value of Rs.10 each.

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 205.2% and 71.02%, respectively.

For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.11,954.82 Lakhs, Rs. 658.80 Lakhs and Rs. 215.88 Lakhs, respectively representing growth of  205.20% 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. 810.28 Lakhs, Rs.  66.53 Lakhs and Rs.  38.90 Lakhs, respectively, representing a growth of  71.02 % from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017-18 the Other Income of our company increased to Rs. 28.42  Lakhs as against Rs. 0.97 Lakhs for the financial year 2016-17 .
  • Company’s Net Profit after tax for the year 2016-17 is Rs.590.32  Lakhs from the year 2015-16 of Rs.53.27 Lakhs .

The Promoter of this company is Mr. Deepak Chaudhari. The lead manager to the issue is Arihant Capital Markets Limited and the Registrar to this issue is Bigshare Services Private Limited .


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Spectrum Electrical IPO Date

The opening and the closing date of IPO of Spectrum Electrical is 17 Sept 2018 – 21 Sept 2018.


Spectrum Electrical IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1: 17 Sept 20180.18x0.02x0.10x
Day 2: 18 Sept 20180.20x0.05x0.12x
Day 3
Day 4
Day 5
Shares Offered or Net Issue1,890,0001,890,0003,780,000

 


Spectrum Electrical IPO Allotment Status

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


Spectrum Electrical IPO Price Band

The face value of each share is Rs 10, but the price band or the cash price is Rs 65 each.


Spectrum Electrical IPO Equity Share Offering

39,80,000 Equity Shares of Rs 10/- each but Issue Price or cash price is Rs 65 each; aggregating to Rs. 2,587.00 Lakhs. The Net Issue offered to the Public is 37,80,000 equity shares at cash price of Rs 65 each, aggregating to Rs.  2,457 Lakhs.


Spectrum Electrical – Company Overview

Spectrum Electrical focus has been on providing one-stop-shop solutions mainly to manufacturers of electrical products and components in India. The Company offer integrated design and manufacturing solutions for local and internationally recognised brands in the electrical products industry.The Company offer end-to-end product solutions to their customers under the B2B model wherein they provide services ranging from global sourcing, manufacturing, quality testing and packaging to logistics. The Company also offer products in the intermediate stages to many of their customers.

The Company manufacturing unit(s) are located at Jalgaon & Nashik in Maharashtra. The Company also has a commercial tool room with modern infrastructure backed by an experienced team. The Company  offer comprehensive design services, ranging from product conceptualisation, designing, technical detailing, tooling and productivity improvement services resulting in improved manufacturing processes for our customers’ products

The Company is promoted by Mr. Deepak Chaudhari and Mrs. Bharti Chaudhari and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Spectrum Electrical :

  • Strong in-house capabilities of product and engineering design –
  • Multi-Technological capabilities and integrated offerings such as tool room, injection moulding, sheet metal fabrication, stamping, metal finishing and surface treatments
  •  Sustainable business model with low risk having industry leaders as our customers
  •  In house R&D enables us to quickly develop products and adapt to the needs of our clients
  •  SAP S/4 HANA implemented by Company for digital enterprise operations
  •  UL certified moulding manufacturing process
  •  High standard of product quality and customer service –
  • Availability of up-to-date infrastructure enabling us to meet bulk requirements of clients
  • Experienced management team

Business strategies of Spectrum Electrical :

  • Continue to focus on Contract Manufacturing model
  • Leverage existing customer relationship to supply new products and value added services
  • Diversification into new Industries
  • Entry into new geographies

Spectrum Electrical – 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 Assets10,763.342,506.001,491.32490.2789.93
Total Revenue11,983.24659.77215.8813.90
Total Expense11,172.96593.24176.9711.395.39
Profit After Tax590.3253.2730.03 1.73(5.39)

Earnings per Equity Share (in Lakhs)

31-Mar-1831-Mar-1731-Mar-16
Basic and Diluted5.301.070.60

From the above statements, one could find that the Spectrum Electrical may perform well.


Spectrum Electrical IPO – Promoters

The Promoter of this company are:

  1. Mr. Deepak Chaudhari
  2. Mrs. Bharti Chaudhari

List of Related Parties (Key Managerial Personnel)

  • Mr. Satish Jaiswal
  • Mr. Gajanan Sanglea
  • Mr. Rajendra Wani
  • Mr. Rahul Rane
  • Mr. Govardhan Reddy
  • Mr. Balu Patil
  • Mr. Nishikant Somvanshi

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.


Spectrum Electrical IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered 39,80,000 Equity Shares of Rs.10/- each for cash at a premium of Rs. 55/- per Equity Share aggregating Rs. 2,587.00 Lacs.
 Of which:
 Reserved for Market Makers 2,00,000 Equity Shares of Rs.10/- each for cash at a premium of Rs. 55/- per Equity Share aggregating Rs. 130 Lacs.
 Net Issue to the Public 37,80,000 Equity Shares of Rs.10/- each for cash at a premium of Rs. 55/- per Equity Share aggregating Rs. 2,457.00 Lacs
 Of which:
 Equity Shares outstanding prior to the Issue1,11,39,840 Equity Shares of Rs. 10/- each
 Equity Shares outstanding after the Issue1,51,19,840 Equity Shares of Rs. 10/- each

Spectrum Electrical IPO Issue Object

These are the IPO Issue Objects of the company:

  • Setting up of Zinc plating plant at Umale (Rs. 750 lakhs)
  • To meet long-term working capital requirements (Rs.1,000 lakhs)
  • General Corporate purposes (Rs. 587.00 lacs)
  • Issue Expenses (Rs. 250 lacs)

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Spectrum Electrical 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:

  • Proven track-record of the Promoter, Mr. Deepak Chaudhari in creating, establishing and growing the business into an integrated, multi-technology electrical components designing and manufacturing company;
  •  Emerged as reliable supplier of wide range of high quality intermediate and finished products to leading names in the electrical industry;
  •  Top customers include marquee brands like Legrand, Schneider and Anchor-Panasonic;
  •  Well-equipped manufacturing facilities with in-house tool room;
  •  Dedicated research and development capabilities focussed on improved production processes, cost savings and better product performances;
  •  Huge growth potential through entry into new geographies;
  •  Strong financial performance and stable cash flows

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-165.3017.5030.28
31-Mar-171.079.2165
31-Mar-180.605.7239.42

 


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Spectrum Electrical IPO Lead Managers

Lead Managers
Arihant Capital Markets Limited
SEBI Registration No: INM000011070
1011, Solitaire Corporate Park, 1st floor
Guru Hargovindji Road, Chakala,
Andheri (East), Mumbai – 400 093
Tel. :022-42254800; Fax. :022- 42254880
Website: www.arihantcapital.com
Email:
Contact Persons: Mr. Amol Kshirsagar/
Mr. Ankur Sharma

Spectrum Electrical IPO Registrar to offer

Registrar to the Offer
Bigshare Services Private Limited
SEBI Registration No: INR000001383
E/2, Ansa Industrial Estate,
Saki Vihar Road,
Andheri (E), Mumbai-400072
Tel: 022-40430200; Fax: 022-28475207
Website: www.bigshareonline.com
E-Mail:
Contact Person : Mr. Ashok Shetty

Other Details:

  • Statutory Auditor –  M/s. S. D. Chopde & Co., Chartered Accountants
  • Peer Review Auditor – M/s. HMA & Associates, Chartered Accountants
  • Bankers to the Company –  Axis Bank Limited

Spectrum Electrical 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

Spectrum Electrical IPO Grey Market Premium

The Spectrum Electrical 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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Spectrum Electrical IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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