Electro Force India IPO will open for subscription from 19 December 2023. The company aims for an issue size of ₹80.68 Cr through this IPO.
Company Overview
| Full name | Electro Force India Limited |
| Sector | Electricals |
| Industry | Electronics – Components |
| Company Website | https://electroforceindia.com/ |
About Company
Established in 2010, Electro Force (India) is ISO 9001:2015 certified company specializing in the design and production of electrical components and metal/plastic contact parts. These products are distributed to industry participants through a business-to-business (B2B) model. Electro Force’s expertise lies in the specialized design and manufacturing of precision sheet metal components, high-speed metal stamping components, plastic injection moldings, insert and over-molding, sub-assemblies, and value-added services. These offerings are tailored for a variety of industries, including electronics, lighting, and other engineering sectors in India.
The Objectives of the Issue
- Funding additional working capital requirements of the company
- Pursuing Inorganic Growth
- General corporate purposes
Electro Force India IPO Timetable
| IPO Opening date | 19 December 2023 |
| IPO Closing | 21 December 2023 |
| Basis of Allotment | 22 December 2023 |
| Initiation Refund | 26 December 2023 |
| Credit to Demat Account | 26 December 2023 |
| Listing Date | 27 December 2023 |
Electro Force India IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹80.68 Cr – 8,674,800 shares |
| Fresh Issue | ₹55.80 Cr – 6,000,000 shares |
| Offer for sale | ₹24.88 Cr – 2,674,800 shares |
| Face value | ₹10 per share |
| Offer Price | ₹93 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 435,600 shares |
| Shareholding pre-issue | 17,400,001 |
| Shareholding post-issue | 23,400,001 |
| Listing Exchange | NSE SME |
Electro Force India IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹111,600 |
| Retail (Max) | 1 | 1200 | ₹111,600 |
| HNI (Min) | 2 | 2,400 | ₹223,200 |
Electro Force India IPO Reservation Details
| Retail Shares Offered | 50% |
| Other Shares Offered | 50% |
Electro Force India Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 15.74 | 34.40 | 30.25 | 23.10 |
| Expenses | 18.14 | 23.84 | 19.60 | 13.64 |
| Net income | (2.24) | 8.64 | 8.00 | 7.11 |
Electro Force India Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (1.29) | 4.97 | 4.60 |
| PE ratio | – | – | 20.22 |
| RONW (%) | (130.45) | 83.44 | 43.57 |
| ROCE (%) | – | – | 58.23 |
| NAV | 0.99 | 5.95 | 10.55 |
| EBITDA (%) | (9.82) | 33.16 | 37.51 |
| Debt/Equity | 3.42 | 0.35 | – |
Company Promoters
- Ayesspea Holdings and Investments Private Limited
- Garuda Television Private Limited
- Pravin Kumar Brijendra Kumar Agarwal
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 62.93% |
Electro Force India IPO Lead Manager(s)
FIRST OVERSEAS CAPITAL LIMITED
1-2 Bhupen Chambers, Dalal Street, Fountain,
Mumbai – 400 001, Maharashtra, India
Phone: +91 22 4050 9999
Email: mb@focl.in
Website: www.focl.in
Electro Force India Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
A/506, Dattani Plaza, Andheri Kurla Road,
Safeed Pool, Andheri East, Mumbai – 400 072, Maharashtra
Phone: +91-11-40450193/197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Electro Force India Contact Details
ELECTRO FORCE (INDIA) LIMITED
39/5, Village – Waliv, Taluka – Vasai East,
District – Palghar, Maharashtra – 401 208
Phone: +91-22 35722456
E-mail: compliance@electroforceindia.com
Website: www.electroforceindia.com
Electro Force India IPO Allotment Status
Electro Force IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.
Final thoughts
Electro Force India IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
