Electro Force IPO Details ( Electro Force India Limited IPO Review )
(19 Dec 2023 – 21 Dec 2023)
Founded in 2010, Electro Force (India) Limited creates and produces electrical parts and metal/plastic components for various industries in India, including electronics, lighting, switchgear, and related fields.
Electro Force specializes in making stamped and plastic components through processes like metal stamping, injection molding, and insert molding. These components are used in Miniature Circuit Breakers (MCBs), 63A electrical manual transfer switches, electrical MCCBs & RCBs, brushless DC motors for medical devices, aerospace, defense, and automation, as well as electrical motor starters, Electrical Control Gears, and electrical switches.
Additionally, the company offers services such as quality testing, packaging, assembly, secondary operations, and logistics.
The manufacturing facility, located in Vasai, Maharashtra, is leased and spans over 10,000 square feet.
Electro Force India Limited Company Product
- Stamping Components
- Components for Electrical MCB’s (Miniature Circuit Breakers)
- Components for Electrical 63A Manual Changeover Switch
- Components for Electrical MCCB & RCB’s
- Components for Brushless DC Motors
- Application – Medical Devices /Aerospace/ Defence & Automation
- Components for Electrical Motor Starters
- Components for Electrical Control Gears
- Components for Electrical Motor Starters
- Components for Electrical Switches & Lighting Industry
- Plastic Components
Electro Force India Limited IPO Competitive Strength
- Experienced Management Team
- High standard of product quality and customer service
- In-house R&D, tool room and continuous new product development
- Offering a variety of products to meet the needs of different customers
Electro Force IPO Financials Performance ( Results )
Electro Force India Limited Financial Information (Restated)
All Amount in ₹ Lakhs
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | Reserves | Borrowing |
| 31-Mar-21 | 1,719.96 | 1,587.13 | -223.69 | -1.29 | 171.47 | -328.53 | |
| 31-Mar-22 | 4,783.37 | 3,443.55 | 864.26 | 4.97 | 1,035.73 | 535.73 | |
| 31-Mar-23 | 7,231.51 | 3,028.81 | 799.60 | 4.60 | 1,835.33 | 95.33 | |
| 30-Sep-23 | 7,827.00 | 2,314.19 | 711.08 | 4.09 | 2,546.41 | 806.41 |
Objective of Electro Force IPO Issue
- Funding additional working capital requirements of the company
- Pursuing Inorganic Growth
- General corporate purposes
Electro Force IPO Basic Details
| IPO Date | Dec 19, 2023 to Dec 21, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Face Value | ₹10 per share |
| Price | ₹93 per share |
| Lot Size | 1200 Shares |
| Issue Size | 8,674,800 shares of ₹10 (aggregating up to ₹80.68 Cr) |
| Fresh Issue | 6,000,000 shares of ₹10 (aggregating up to ₹55.80 Cr) |
| Offer for Sale | 2,674,800 shares of ₹10 (aggregating up to ₹24.88 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,400,001 |
| Share holding post issue | 23,400,001 |
| Company Promoters | Ayesspea Holdings and Investments Private Limited, Garuda Television Private Limited, and Pravin Kumar Brijendra Kumar Agarwal |
Electro Force IPO Reservation
| Other Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
Electro Force IPO Timetable
Electro Force IPO will open on December 19, 2023 and close on December 21, 2023. You can join Electro Force IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 19 December 2023 (Tuesday) |
| Closing Date | 21 December 2023 (Thursday) |
| Basis of Allotment | 22 December 2023 (Friday) |
| Initiation of Refunds | 26 December 2023 (Tuesday) |
| Credit of Shares to Demat | 26 December 2023 (Tuesday) |
| Listing Date | 27 December 2023 (Wednesday) |
| Deadline for UPI mandate confirmation | 5 PM on 21 December 2023 |
Electro Force IPO Lot Size
For retail investors in Electro Force India IPO, 1200 shares will come in 1 lot or the minimum investment will be ₹111,600. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹111,600.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1200 | ₹111,600 |
| Retail (Max) | 1 | 1200 | ₹111,600 |
| S-HNI (Min) | 2 | 2400 | ₹223,200 |
Electro Force India IPO Promoter Holding
The company’s promoters include Ayesspea Holdings and Investments Private Limited, Garuda Television Private Limited, and Pravin Kumar Brijendra Kumar Agarwal .
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 62.93% |
Electro Force India Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Earning Per Share (EPS) | ₹4.60 per Equity Share |
| Net Asset Value (NAV) | ₹10.55 per Equity Share |
| P/E Ratio (P/E) (x) | 20.22 |
| Post P/E Ratio (P/E) (x) | 27.22 |
| Return on Net Worth (RoNW) (%) | 43.57 |
| Return on equity (ROE) (%) | 43.57 |
| Return on Capital Employed (ROCE) (%) | 58.23 |
Electro Force India Ltd Peer Comparison
| Company Name | Consolidated/ Standalone | CMP (₹) | Face Value | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) |
| Electro Force (India) Limited | Consolidated | 93.00 | 10 | 4.60 | 20.22 | 43.57 | 10.55 |
| Peer Group | |||||||
| Centum Electronics Limited | Consolidated | 1461.40 | 10 | 7.62 | 191.78 | 31.77 | 158.37 |
| RIR Power Electronics Limited | Consolidated | 875.45 | 10 | 8.69 | 100.74 | 18.08 | 47.59 |
Electro Force IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| Today | ₹10 | – | – |
| 20 December 2023 | ₹10 | – | – |
| 19 December 2023 | ₹0 | – | – |
| 18 December 2023 | ₹0 | – | – |
| 17 December 2023 | ₹0 | – | – |
| 16 December 2023 | ₹0 | – | – |
Electro Force IPO Detail Video:
link
Electro Force IPO Subscription Status (Bidding Detail)
The Electro Force IPO on December 21, 2023 at 7:30:00 PM was subscribed 4.28 times, with the retail category being subscribed 6.44 times, the other category being subscribed 2.12 times.
| Category | Subscription |
| Other | 2.12x |
| Retail | 6.44x |
| Total | 4.28x |
Electro Force IPO Prospectus
| Electro Force IPO DRHP | Download |
| Electro Force IPO RHP | Download |
| Electro Force IPO Anchor Investors Details PDF | Download |
Electro Force IPO Rating
| Our Rating | 3.0/5.0 |
Electro Force Company Contact Information
Electro Force India Limited
Registered Office: 39/5, Village – Waliv, Taluka – Vasai East, District – Palghar, Maharashtra – 401 208, India
Tel. No: +91-22 35722456;
Email: compliance@electroforceindia.com
Website: www.electroforceindia.com
Contact Person: Reetu Bansal, Company Secretary & Compliance Officer
Promoters of Our Company: Ayesspea Holdings and Investments Private Limited, Garuda Television Private Limited and Pravin Kumar Brijendra Kumar Agarwal
Electro Force IPO Registrar
Skyline Financial Services Private Limited
Registered Office: D-153 A, 1st Floor, Okhla Industrial Area, Phase – I, New Delhi110020, India
Tel. No.: +91-11-40450193/197
Email: ipo@skylinerta.com
Investor Grievance Email: grievances@skylinerta.com
Website: www.skylinerta.com
Contact Person: Anuj Rana
SEBI Registration No.: INR000003241
Electro Force IPO Lead Manager
First Overseas Capital Limited
Registered Office: 1-2 Bhupen Chambers, Dalal Street, Fountain,Mumbai – 400 001, Maharashtra, India
Tel No.: +91 22 4050 9999
Email: mb@focl.in
Investor Grievance Email: investorcomplaints@focl.in
Website: www.focl.in
Contact Person: Mala Soneji/ Rushabh Shroff
SEBI Registration No: INM000003671
Electro Force IPO FAQs
What is the lot size of Electro Force IPO?
The total size of Electro Force IPO is ₹80.68 crores out of which ₹55.80 crores is fresh issue and ₹24.88 crores is offer for sale (OFS).
When will Electro Force IPO start?
Electro Force IPO will open from 19 December 2023 and IPO will close on 21 December 2023.
What is the open date of Electro Force IPO?
Electro Force IPO will open date from 19 December 2023.
What is the last date ( close date ) of Electro Force IPO?
Electro Force IPO will close from 21 December 2023.
What is the price band of Electro Force IPO?
Electro Force IPO price band is ₹93.
What is the minimum amount required to apply for Electro Force IPO?
The minimum investment for retailers to apply for Electro Force IPO is ₹111,600 and the maximum investment is ₹111,600.
What is going on gray market premium of Electro Force IPO?
View gray market premium of Electro Force IPO by Clicking Here
How much is the GMP of Electro Force IPO?
Watch Electro Force IPO GMP Today: Click Here
What is the allotment date of Electro Force IPO?
The allotment date of Electro Force IPO is 22 December 2023.
How to check allotment status in Electro Force IPO?
To check the allotment status of Electro Force IPO, first of all go to the registrar website by clicking here, select your bad Electro Force IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Electro Force IPO?
The listing date of Electro Force IPO is 27 December 2023.
How much will be the listing gain in Electro Force IPO?
View listing gain of Electro Force IPO by Clicking Here
How much time Electro Force IPO is subscribed?
Total 4.28 times subscribed in Electro Force IPO out of which 6.44 times subscription was done in retail quota, 2.12 times subscription in other quota.
How to apply for Electro Force IPO from Upstox?
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How to apply for Electro Force PO from Zerodha?
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How to apply for Electro Force IPO from Angle One?
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