Electro Force Limited is gearing up for its IPO scheduled from December 19th to December 21st, 2023. The company operates within the realm of electrical components and specializes in metal/plastic contact parts. This IPO entails a fresh issue of 6,000,000 shares valued at Rs. 55.80 crore along with an Offer-for-Sale (OFS) of 2,674,800 shares worth Rs. 24.88 crore, culminating in a total IPO size of Rs. 80.68 crore. The allotment of shares is slated for December 22nd, while the IPO is primed for listing on December 27th across various stock exchanges, presenting an offering price of Rs. 93 per share with a lot size of 1200 shares.
Playing crucial roles in this IPO, First Overseas Capital Limited assumes the position of the book-running lead manager, overseeing the process, while Skyline Financial Services Private Limited has been appointed as the registrar, managing crucial administrative tasks related to the IPO's execution and documentation.
Founded in 2010, Electro Force Limited has established itself as a prominent entity in the business-to-business (B2B) sphere, focusing on the design and production of electrical components alongside metal/plastic contact parts. Holding an ISO 9001:2015 certification, the company operates its manufacturing hub in Vasai, Maharashtra.
Specializing in precision sheet metal components, high-speed metal stamping components, plastic injection moldings, insert and over moldings, as well as offering sub-assemblies and value-added services, Electro Force caters to various industries including electronics, lighting, switchgear, and related sectors across India. Their comprehensive range of offerings ensures vital contributions to these industries.
Electro Force India Limited is gearing up for its IPO scheduled to be available for subscription from December 19th to December 21st, 2023. Allocation of shares is set for December 22nd, 2023, with the IPO slated for listing on the stock exchanges on December 27th, 2023.
IPO Opening Date: The IPO subscription for Electro Force Limited begins on Tuesday, December 19, 2023.
IPO Closing Date: Investors can subscribe to the IPO until Thursday, December 21, 2023.
Basis of Allotment: The basis of allotment for the IPO will be determined on Friday, December 22, 2023.
Initiation of Refunds: Refunds for the IPO will be initiated starting Tuesday, December 26, 2023.
Credit of Shares to Demat: Share allotments will be credited to Demat accounts on Tuesday, December 26, 2023.
Listing Date: Electro Force Limited's IPO is set to be listed on Wednesday, December 27, 2023.
Cut-off Time for UPI Mandate Confirmation: The deadline for confirming UPI mandates is 5 PM on December 21, 2023, ensuring timely processing for interested investors.
| IPO Date | 19th to 21st December 2023 |
| Listing Date | 27th December 2023 |
| Face Value | Rs. 10 per share |
| Price | Rs. 93 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 8,674,800 shares (aggregating up to Rs. 80.68 Cr) |
| Fresh Issue | 6,000,000 shares (aggregating up to Rs. 55.80 Cr) |
| Offer for Sale | 2,674,800 shares of Rs. 10 (aggregating up to Rs. 24.88 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,400,001 |
| Share holding post issue | 23,400,001 |
| Market Maker portion | 435,600 shares |
Electro Force (India) Limited experienced a decline of -12.04% in revenue and a -7.48% decrease in profit after tax (PAT) from the financial year ending on March 31, 2023, compared to the figures reported for March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 7,827.00 | 7,231.51 | 4,783.37 | 1,719.96 |
| Revenue | 2,314.19 | 3,028.81 | 3,443.55 | 1,587.13 |
| Profit After Tax | 711.08 | 799.60 | 864.26 | -223.69 |
| Net Worth | 2,546.41 | 1,835.33 | 1,035.73 | 171.47 |
| Reserves and Surplus | 806.41 | 95.33 | 535.73 | -328.53 |
| Total Borrowing | ||||
| Amount in Rs. Lakhs | ||||
What is Electro Force IPO?
The Electro Force India IPO represents an offering of 8,674,800 equity shares, each with a face value of Rs. 10, totaling an aggregation of Rs. 80.68 Crores. Priced at Rs. 93 per share, the minimum order quantity stands at 1200 Shares. This IPO commenced on December 19, 2023, and will conclude on December 21, 2023.
When Electro Force IPO will open for apply?
The Electro Force IPO is scheduled to open for application on December 19, 2023.
What are the minimum lot size and investment needed for participating in the Electro Force IPO?
The Electro Force IPO mandates a minimum lot size of 1200 shares, necessitating an investment totaling Rs. 1,11,600.
When is Electro Force IPO allotment date?
The allotment date for the Electro Force IPO is expected to be finalized on Friday, December 22, 2023.
What is the Electro Force IPO listing date?
The Electro Force IPO is anticipated to be listed on the NSE SME platform with a tentative listing date set for Wednesday, December 27, 2023.
What is the price band of Electro Force IPO?
The price band for the Electro Force IPO is set between Rs. 93 per share.
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