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Business News/ Markets / Stock Markets/  Shivalic Power Control IPO DRHP is out: To issue 64,32,000 Equity shares of face value of 10 each.
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Shivalic Power Control IPO DRHP is out: To issue 64,32,000 Equity shares of face value of ₹10 each.

Shivalic Power Control IPO: As per DRHP for Shivalic Power Control IPO, it plans issuing 64,32,000 Equity shares of face value of ₹10 each. The fund will be used by the company for meeting working capital requirements, funding expansions, inorganic growth and general corporate purposes.

Shivalic Power Control IPO DRHP in place: To issue 64,32,000 Equity shares (Photo: Company Website)Premium
Shivalic Power Control IPO DRHP in place: To issue 64,32,000 Equity shares (Photo: Company Website)

 Shivalic Power Control Ltd IPO: Shivalic Power Control Ltd is planning to launch its public issue where it will be issuing 64,32,000 Equity shares of face value of 10 each.

The Shivalic Power Control Ltd Draft Red Herring Prospectus is out.

Book Running Lead Manager to the issue will be Corporate CapitalVentures Pvt Ltd while Skyline Financial Services Pvt Ltd will be registrars to the Shivalic Power Control IPO.

Shivalic Power Control IPO proceeds will be used to meet the working capital requirements of the company; The company's working Capital requirements stand at 30.03 crore.

The second objective is to  meet out the funding for capital expenditure of the company. Shivalic Power Control requires 5.86 Crore for funding for procurement of new machineries. Also it requires 1.82 Crore for construction of new assembly line by shedding the roof.

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The third objective is to meet out the inorganic growth through unidentified acquisition for Company and 5.75 crore is required by the company for this. In addition undisclosed amount depending on funds being raised will be allocated for General Corporate Expenses.

The founder of Shivalic Power Control is Amit Kanwar Jindal. Amit Kanwar Jindal and  Dr. Sapna Jindal are promoters of the Shivalic Power Control.

Shivalic Power Control is an enterprise situated in Faridabad that produces an extensive assortment of electrical panels, including but not limited to PCC, IMCC, Smart, MCC, DG synchronization, outdoor, HT, up to 33KV, VFD, Power Distribution Boards, Bus Duct, and LT & HT APFC panels.

Shivalic Power Control had reported a net profit of 7.6 crore on revenue of 63.55 crore for the first nine months of the Finacial Year 2024. In FY 2022–2023 the company had sales of 82.15 crore and profit of 7.16 crore.

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Some of its industry clients include Hewlett Packard, DCM Shriram, Rungta Mines, Bikaji Foods, Dabur, Radico, Naini Paper, J K Cement, Jindal Steel & Power, Orient Papers, Escorts, Reliance Cement, and Yamaha Motors.

A manufacturing facility owned by Shivalic Power Control in Faridabad can produce 10,000 verticals annually.

 The current fiscal year ended December 31, 2023, and Shivalic Power Control reported a net profit of 7.6 crore on revenue of 63.55 crore for the first nine months of the year. In FY 2022–2023 the company had sales of 82.15 crore and profit of 7.16 crore.AlsoAlso Read- 

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Published: 22 Apr 2024, 05:19 PM IST
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