The Electro Force IPO date has been confirmed from 19 December, 2023 and closes on 21 December, 2023.
Using an IPO, Electro Force is seeking to raise Rs 80.68 crore. Its price is ₹93 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹111,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹223,200.
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Bidding Dates
December 19-21
Price Range
₹93 per share
Face Value
₹10 per share
GMP
₹10
Electro Force IPO GMP
The Electro Force Limited IPO GMP is ₹10.
IPO Overview
The Electro Force India IPO is a fixed-price offering worth Rs 80.68 crores. The offering consists of a fresh issue of 60 lakh shares worth Rs 55.80 crores and an offer for sale of 26.75 lakh shares worth Rs 24.88 crores. The Electro Force India IPO goes on sale on December 19, 2023, and closes on December 21, 2023. The Electro Force India IPO allotment is expected to be completed on Friday, December 22, 2023. The Electro Force India IPO will be listed on the NSE SME on Wednesday, December 27, 2023.
The IPO price for Electro Force India is Rs. 93 per share. A minimum lot size of 1200 Shares is required for an application. Retail investors are obliged to make a minimum investment of 111,600. The minimum lot size for HNI is 2 lots (2,400 shares), which amounts to 223,200. In addition, the company offers quality testing, packing, assembly, secondary operations, and logistics services. The company has a 10,000-square-foot rented production facility 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
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.
Registrar Info
| Name | SKYLINE FINANCIAL SERVICES PRIVATE LIMITED |
| Phone number | +91-11-40450193/197 |
| Email ID | ipo@skylinerta.com |
| Website | skylinerta.com |
Contact Details
| Name | ELECTRO FORCE (INDIA) LIMITED |
| Phone number | +91-22 35722456 |
| Email ID | compliance@electroforceindia.com |
| Website | electroforceindia.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
