Electro Force IPO GMP, Review, Price, Allotment

The Electro Force IPO date has been confirmed as 19 December 2023 and closes on 21 December 2023. Read the post to learn about the Electro Force IPO GMP.

Electro Force IPO wants to raise Rs 80.68 crore through an IPO. Each share is priced at ₹ 93. An application must have a  minimum lot size of 1200 shares. Retail investors are  needed to invest a minimum of ₹ 111,600. For HNI, a minimum investment of two lots( 2,400 shares) of ₹ 223,200 is needed.  

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Key Details Of Electro Force IPO

Electro Force IPO GMP

The Electro Force Limited IPO GMP is ₹10.

Electro Force IPO Overview​

The Rs 80.68 crores Electro Force India IPO is a fixed- price offering. A new issuance of 60 lakh shares valued at Rs 55.80 crores and an offer to sell 26.75 lakh shares valued at Rs 24.88 crores make up the offering. On December 19, 2023, the Electro Force India IPO will go live and end on December 21, 2023. On Friday, December 22, 2023, the allotment for the Electro Force India IPO is anticipated to be finished. On Wednesday, December 27, 2023, the Electro Force India IPO will be launched on the NSE SME.  

Electro Force India’s  original public offering( IPO) price is INR 93 per share. The Electro Force Limited IPO GMP is ₹ 10. An application must have a minimum lot size of 1200 shares. Retail investors must make a  minimal investment of 111,600. For HNI, two lots( 2,400 shares) are required as the minimum lot size, totalling 223,200. Likewise, the organization provides logistics, secondary operations, packing, assembly, and quality testing services. The firm rents a 10,000- square- foot manufacturing space in Vasai, Maharashtra.  

Electro Force IPO Details

Electro Force IPO Dates	19 – 21 December 2023
Electro Force Issue Price	INR 93 per share
Fresh issue	6,000,000 shares (INR 55.80 crore)
Offer For Sale	2,674,800 shares (INR 24.88 crore)
Total IPO size	8,674,800 shares (INR 80.68 crore)
Minimum bid (lot size)	1,200 shares (INR 111,600)
Face Value	INR 10 per share
Retail Allocation	50%
Listing On	NSE SME

Electro Force Financial Performance

	FY 2021	FY 2022	FY 2023	H1 FY 2024
Revenue	15.74	34.40	30.25	23.10
Expenses	18.14	23.84	19.60	13.64
Net income	(2.24)	8.64	8.00	7.11

Electro Force IPO Dates & Listing Performance

IPO Opening Date	19 December 2023
IPO Closing Date	21 December 2023
Finalization of Basis of Allotment	22 December 2023
Initiation of refunds	26 December 2023
Transfer of shares to demat accounts	26 December 2023
IPO Listing Date	27 December 2023
Opening Price on NSE SME	Coming soon
Closing Price on NSE SME	Coming soon

Company Profile​

IPO Strengths

• Experienced promoters and a competent management team.
• Well-established relationships with a loyal customer base.
• Access to markets worldwide, enabling global reach.

IPO Weakness

• Customers, mainly from the United States, are relied on heavily.
• These nations’ many rules and regulations must be followed to achieve compliance.
• Competition from other players in the market.

Electro Force IPO FAQs