Electro Force (India) Ltd IPO — GMP, Details & Subscription

IPO Details

Open Date

19 Dec 2023

Close Date

21 Dec 2023

Allotment

22 Dec 2023

Listing Date

27 Dec 2023

Exchange

NSE SME

Price Band

₹93

Listing Price

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Allotment Status

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Price Band

₹93

Per share

Face Value

₹10 per share

Lot Size

1,200 Shares

per lot

Issue Size

86,74,800 shares (aggregating up to ₹80.68 Cr)

Total offering

Issue Type

Fixed Price IPO

Min Investment

₹111,600

1 lot

Pre-IPO Holding

1,74,00,001 shares

Promoters

Post-IPO Holding

2,34,00,001 shares

Promoters

P/E (Pre)

20.22x

P/E (Post)

15.3x

EPS (Pre)

₹4.60

UPI Deadline

2023-12-21

Mandate

Anchor AllotmentMon, 18 Dec 2023

Basis of AllotmentFri, 22 Dec 2023

Refund InitiationTue, 26 Dec 2023

Demat CreditTue, 26 Dec 2023

Listing DayWed, 27 Dec 2023

UPI Mandate Deadline2023-12-21

Sale TypeFresh Capital-cum-Offer for Sale

Net Offer to Public82,39,200 shares (aggregating up to ₹76.62 Cr)

Market Maker Quota4,35,600 shares (aggregating up to ₹4.05 Cr)

Fresh Issue Shares55,64,400 shares (aggregating up to ₹51.75 Cr)

Offer for Sale26,74,800 shares of ₹10 (aggregating up to ₹24.88 Cr)

QIB Quota50% of Net Issue

HNI / NII Quota15% of Net Issue

Retail Quota35% of Net Issue

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Subscription Rate Final

Electro Force (India) Ltd IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 21 Dec 2023.

QIB

1.00x

Over

NII/HNI

1.00x

Over

Retail

1.00x

Over

Total

1.00x

Over

Category	Subscription	Shares Offered	% of Total	Amount (₹Cr)
Market Maker	Awaited	435,600	—	₹4.05
QIB	Over 1.00x	—	—	—
NII / HNI	Over 1.00x	—	—	—
Retail	Over 1.00x	—	—	—
Total	1.00x	8,674,800	100%	₹80.68

IPO Shares Offered

Electro Force (India) Ltd IPO total issue size: ₹80.68 Cr.

Category	Shares Offered	Amount (₹Cr)	Size (%)
Market Maker	435,600	₹4.05	5.02%
Total	8,674,800	₹80.68	100.00%

* Based on upper price band ₹93 per share

Lot Size & Investment

Lot Size

1,200

Shares per Lot

Issue Price

₹93.00

Upper Band

Min Investment

₹111,600

1 Lot

Application	Lots	Shares	Amount
Retail (Min — 2 Lots)	2	2,400	₹223,200
Retail (Max — 13 Lots)	13	15,600	₹1,450,800
S-HNI (Min — 14 Lots)	14	16,800	₹1,562,400
B-HNI (Min — 68 Lots)	68	81,600	₹7,588,800

* Issue Price ₹93 × Lot Size 1,200 shares

IPO Schedule

Anchor

18 Dec 2023

✓ Done

IPO Open

19 Dec 2023

✓ Done

IPO Close

21 Dec 2023

✓ Done

Allotment

22 Dec 2023

✓ Done

Refunds

26 Dec 2023

✓ Done

Demat Credit

26 Dec 2023

✓ Done

Listing Day

27 Dec 2023

✓ Done

₹93.00

INR · NSE

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Issue ₹93.00 Live Price

About Electro Force (India) Ltd

Incorporated in 2010, Electro Force (India) Limited designs and manufactures electrical components and metal/plastic contact parts for India's electronics, lighting, switchgear, and allied industries.Electro Force designs and manufactures stamping components and plastic components by metal stamping, injection molding and insert molding for electrical MCBs (Miniature Circuit Breakers), 63A electrical manual transfer switches, electrical MCCBs & RCBs, brushless DC motors for medical devices/aerospace/defense and automation, electrical motor starters, Electrical Control Gears, and electrical switches.The company also provides quality testing, packaging, assembly, secondary operations and logistics services.The company has a leased manufacturing facility in Vasai, Maharashtra, with an area of over 10,000 square feet.

Objects of the Issue

Funding additional working capital requirements of the company

Pursuing Inorganic Growth

General corporate purposes

Electro Force (India) Ltd Financials (Amount in ₹ Lakhs)

Revenue from Operations

₹3,028.8

31 Mar 2022

₹3,028.8

31 Mar 2023

₹2,314.2

30 Sep 2023

Profit After Tax (PAT)

₹864.3

31 Mar 2022

₹799.6

31 Mar 2023

₹711.1

30 Sep 2023

Particulars	30 Sep 2023	31 Mar 2023	31 Mar 2022
Revenue from Operations	2314.19	3028.81	3028.81
EBITDA	N/A	N/A	N/A
Profit After Tax (PAT)	711.08	799.60	864.26
Net Worth	2546.41	1835.33	1035.73
Total Assets	7827.00	7231.51	4783.37
Reserves & Surplus	806.41	95.33	535.73
Borrowings	N/A	N/A	N/A
EBITDA Margin (%)	N/A	—	—
PAT Margin (%)	N/A	—	—

RoE

43.57%

RoCE

58.23%

RoNW

43.57%

Issue Structure & Shareholding

Total Shares Offered86,74,800 (100.00%)

Net Offer to Public82,39,200 shares (aggregating up to ₹76.62 Cr)

Reserved for Market Maker4,35,600 shares (aggregating up to ₹4.05 Cr)

Pre-Issue Promoter Holding1,74,00,001 shares

Post-Issue Promoter Holding2,34,00,001 shares

P/BV RatioN/A

RoE43.57%

RoCE58.23%

Debt / EquityN/A

Script CodeN/A

Registrar & Lead Managers

IPO Registrar

Skyline Financial Services Pvt.Ltd.

02228511022

ipo@skylinerta.com

https://www.skylinerta.com/ipo.php

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Book Running Lead Managers

First Overseas Capital Ltd.

GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.

IPO Subscription FAQs

How much Electro Force (India) Ltd IPO subscribed? ▲

Electro Force (India) Ltd IPO is subscribed 1.00 times by Dec 21, 2023. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor Category	Subscription
Qualified Institutional (QIB)	1.00x
Non Institutional (NII/HNI)	1.00x
Retail Individual	1.00x
Total Subscription	1.00x

What is Electro Force (India) Ltd IPO retail subscription status? ▼

The Electro Force (India) Ltd IPO retail category is subscribed 1.00 times as of 21 Dec 2023. The retail portion is oversubscribed.

How to subscribe Electro Force (India) Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 19 Dec 2023 and closes 21 Dec 2023. Min investment: ₹111,600 (1 lot = 1,200 shares). UPI mandate: 2023-12-21.

How many times Electro Force (India) Ltd IPO subscribed? ▼

The Electro Force (India) Ltd IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Electro Force (India) Ltd IPO allotment? ▼

Check allotment on the registrar website (Skyline Financial Services Pvt.Ltd.) at https://www.skylinerta.com/ipo.php. Enter your PAN, application number or DP/Client ID. Allotment date: 22 Dec 2023. Refunds: on 26 Dec 2023.

When Electro Force (India) Ltd IPO will be listed? ▼

The Electro Force (India) Ltd IPO listing date is 27 Dec 2023, Wednesday. Listed on: NSE SME. Issue price: ₹93. Estimated listing: ₹93. GMP: NIL.

When Electro Force (India) Ltd IPO close? ▼

The Electro Force (India) Ltd IPO closes on 21 Dec 2023, Thursday. UPI mandate: 2023-12-21. Allotment: 22 Dec 2023. Listing: 27 Dec 2023.

Quick Actions

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Live Price LIVE

Last Price₹93.00

Change—

Issue Price₹93.00

vs Issue—

Quick Summary

StatusListed

Issue Price₹93

Face Value₹10

Lot Size1,200 Sh

Min. Amount₹111,600

GMPNIL

Est. Listing₹93

Subscribed1.00x

Open Date19 Dec 2023

Close Date21 Dec 2023

Allotment22 Dec 2023

Listing Date27 Dec 2023

ExchangeNSE SME

UPI Deadline2023-12-21