Shivalic Power Control is gearing up for its Initial Public Offering (IPO), where it plans to offer 6,432,000 equity shares at a price range of ₹95 to ₹100 per share. The IPO, valued at ₹64.32 crore, includes only fresh issuance of shares with no offer-for-sale component.
Company Overview
The company, known for manufacturing LT and HT electric panels for two decades, operates from an ISO-certified facility spanning 1,25,000 square feet. Their product range includes various panels like PCC, IMCC, Smart, MCC, DG synchronisation, outdoor, HT up to 33KV, VFD, Power Distribution Boards, Bus Duct, and LT and HT APFC panels.
Shivalic Power Control’s revenue surged by 44.03%, and their profit after tax (PAT) rose by an impressive 309.78% from March 31, 2022, to March 31, 2023.
IPO Timeline and Allocation
The IPO’s basis of share allocation will conclude on June 27, with refunds starting on June 28 and shares credited to investors’ demat accounts the same day. Trading of Shivalic Power Control’s shares on NSE SME is expected to commence on June 24.
The net proceeds from the IPO will be allocated towards working capital requirements, capital expenditures, new machinery procurement, civil construction, potential acquisitions, and general corporate expenses.
Corporate Capitalventures Pvt Ltd is the IPO’s book-running lead manager, with Skyline Financial Services Private Ltd acting as the registrar, and Ss Corporate Securities as the market maker.
Grey Market Premium (GMP)
Currently, the grey market premium (GMP) for Shivalic Power Control IPO stands at +125, suggesting strong investor interest with shares trading at a premium of ₹125 above the IPO price. This indicates an estimated listing price of ₹225 per share, a significant increase from the IPO price band.
The grey market premium reflects investors’ willingness to pay more than the IPO price, indicating a positive outlook for Shivalic Power Control’s market debut.
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