Shivalic Power Control IPO to open on June 24; price band set at ₹95-100 apiece

  • Shivalic Power Control Ltd IPO price band set at 95-100 per share with 1,200 shares per lot. Company has allocated shares to various segments. Revenue up by 44.03%, PAT up by 309.78% from 2022 to 2023. IPO proceeds for working capital, capex, new machinery, acquisitions, and expenses.

Dhanya Nagasundaram
Published18 Jun 2024, 04:13 PM IST
Shivalic Power Control IPO will open for subscription on Monday, June 24, and close on Wednesday, June 26.
Shivalic Power Control IPO will open for subscription on Monday, June 24, and close on Wednesday, June 26. (https://shivalic.com/)

The Shivalic Power Control Limited IPO price band has been set between 95 and 100 per equity share, having a face value of 10 each. The Shivalic Power Control IPO will open for subscription on Monday, June 24, and close on Wednesday, June 26. Each Shivalic Power Control IPO lot consists of 1,200 shares. The floor price is 9.50 times of the face value and the cap price is 10.00 times of the face value of the equity shares. 

The Shivalic Power Control IPO has allocated 3,36,000 equity shares to the market maker portion, 18,28,800 equity shares to the anchor portion, 12,19,200 equity shares to the qualified institutional buyer, 21,33,600 equity shares to the retail portion, and 9,14,400 equity shares to the non-institutional segment.

As per company's red herring prospectus (RHP), Shivalic Power Control Ltd has been manufacturing LT and HT electric panels for 20 years and is ISO certified. The firm is a technology-driven corporation that places a high value on quality, design, and product development, allowing them to create products that meet the needs of its clients. Their 1,25,000-square-foot in-house manufacturing facility enabled us to produce a wide range of electric panels, including PCC panels, IMCC panels, Smart panels, MCC panels, DG synchronisation panels, outdoor panels, HT panels up to 33KV, VFD panels, Power Distribution Boards, Bus Duct, and LT and HT APFC panels.

Also Read: ixigo IPO listing updates: ixigo share price ends debut day with 20% premium at 165.72 apiece on NSE

The company's listed peers are Saakshi Medtech And Panels Ltd, and Marine Electricals (India) Ltd (with a P/E of 22.54).

Shivalic Power Control Limited's revenue climbed by 44.03%, while profit after tax (PAT) increased by 309.78% between March 31, 2023 and March 31, 2022.

The Shivalic Power Control IPO basis of share allocation will be completed on Thursday, June 27, and the business will begin refunds on Friday, June 28, with shares credited to allottees' demat accounts on the same day. Shivalic Power Control's IPO shares are likely to be listed on NSE SME on Monday, June 24.

Shivalic Power Control IPO details 

The Shivalic Power Control IPO, worth 64.32 crore, consists of a fresh issuance of 6,432,000 equity shares at face value of 10. There is no offer-for-sale component.

The net proceeds will be used to meet the company's working capital requirements, capital expenditures, funding for the procurement of new machinery, civil construction of the warehouse by shedding the roof, inorganic growth through unidentified acquisitions for the company, and General Corporate Expenses.

Corporate Capitalventures Pvt Ltd is the book-running lead manager for the Shivalic Power Control IPO, with Skyline Financial Services Private Ltd serving as the registrar. Ss Corporate Securities is the market maker for Shivalic Power Control's IPO.

Also Read: Falcon Technoprojects India IPO opens on Wednesday. GMP, price, other details of upcoming IPO in 10 points

Shivalic Power Control IPO GMP today

Shivalic Power Control IPO GMP today or grey market premium is +125. This indicates Shivalic Power Control share price were trading at a premium of 125 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shivalic Power Control share price was indicated at 225 apiece, which is 125% higher than the IPO price of 100.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Winny Immigration IPO price band set at 140 per share; issue to open on June 20

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:18 Jun 2024, 04:13 PM IST
HomeMarketsShivalic Power Control IPO to open on June 24; price band set at ₹95-100 apiece

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