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SME IPO Status: Listed [19th Dec 2023 to 21st Dec 2023]
Electro Force India IPO, a SME IPO of ₹80.68 Cr was launced on 19-12-2023 to 21-12-2023 and the shares got listed on NSE SME on 27-12-2023.
The public issue of Electro Force India IPO (EFORCE) was offered at ₹93.00 per share and the ipo was listed at ₹100. It has delivered listing gain of 7.53%.
As the minimum lot size was 1200 shares, the IPO has offered Rs 8400 per lot return on listing.
| SME IPO Issue Opening Date: | 19th Dec 2023 |
| SME IPO Issue Closing Date: | 21st Dec 2023 |
| SME IPO Issue Price: | ₹93.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| IPO Listing At: | NSE SME |
| Retail Quota: | 50% of the net offer |
| SME IPO Issue Type: | Fixed Price Issue |
| SME IPO Issue Size: | ₹80.68 Cr |
| Offer for Sale: | ₹24.88 Cr |
| Fresh Issue: | ₹55.80 Cr |
| Face Value: | ₹10 Per Equity Share |
| SME IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 100.00% |
| Promoter Holding Post IPO: | 62.93% |
| Allotment Status: | Allotment Status |
| NSE Code: | EFORCE |
Get important updates regarding Electro Force India SME IPO tentative timeline covering SME IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| SME IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 22nd Dec 2023 |
| Refunds Initiation* | 26th Dec 2023 |
| Credit of Shares to Demat* | 26th Dec 2023 |
| SME IPO Listing Date* | 27th Dec 2023 |
* - Tentative Dates
| SME IPO Activity | Date |
|---|---|
| Issue Price | ₹93.00 |
| Market Lot: | 1200 Shares |
| 1 Lot Amount: | ₹111600 |
| Min HNI Lots: | 2400 shares (2 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 27-12-2023 | 93.00 | 0 | -- | ₹93 (0%) | 27-Dec-2023 6:03 |
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Established in 2010, Electroforce India Pvt. Ltd. is a reputed company with more than a decade of experience in designing and manufacturing precision sheet metal components, plastic injection moulded parts and related assemblies. ISO 9001 and 14001 certifications demonstrate the company's commitment to quality and the environment.
The company specializes in providing innovative and advanced manufacturing solutions for complex precision sheet metal components and assemblies for various industries such as electrical and electronics, lighting and other engineering industries in India. The company's capabilities include product design, prototyping and process development for precision sheet metal components and plastic products and assemblies for the electrical and switchgear industry.
The company offers its customers end-to-end product solutions under the B2B model, providing services ranging from design, manufacturing and quality testing to packaging and logistics. For many of its customers, the company also offers products in the intermediate stages. The focus is on offering integrated services, especially to Indian manufacturers of electrical components. The company is capable of stamping, assembling and casting precision stamped parts. The company believes that a team of dedicated, skilled and trained professionals has contributed to the company's success. While the company's products meet high-quality standards, what sets the company apart is its ability to respond quickly, reliably and accurately to the needs of its customers.
| Incorporation | Sector | IPO Issue Size | Website |
| 2010 | Industrial Products | ₹80.68 Cr | https://electroforceindia.com/ |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Our experts can help you prepare for SME IPO
The table below is live update of SME IPO bidding details from NSE and BSE.
| Day | NII | RII | Total | |
|---|---|---|---|---|
| # of Shares Offered | 4,119,600 (50%) | 4,119,600 (50%) | 8,239,200 | |
| 1 | 19th Dec 2023 19:31 | 0.34x | 1.52x | 0.93x |
| 2 | 20th Dec 2023 19:31 | 0.59x | 3.45x | 2.02x |
| 3 | 21st Dec 2023 19:31 | 2.12x | 6.44x | 4.28x |
Electro Force (India) Limited's revenue decreased by -12.04% and profit after tax (PAT) dropped by -7.48% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 7,827.00 | 7,231.51 | 4,783.37 | 1,719.96 |
| Revenue | 2,314.19 | 3,028.81 | 3,443.55 | 1,587.13 |
| Profit After Tax | 711.08 | 799.60 | 864.26 | -223.69 |
| Net Worth | 2,546.41 | 1,835.33 | 1,035.73 | 171.47 |
| Reserves and Surplus | 806.41 | 95.33 | 535.73 | -328.53 |
| Total Borrowing | ||||
| Amount in ₹ Lakhs | ||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Electro Force (India) Limited | 4.6 | 4.6 | 10.55 | 20.22 | 43.57 | |
| Centum Electronics Limited | 7.62 | 158.37 | 191.78 | 31.77 | ||
| RIR Power Electronics Limited | 8.69 | 47.59 | 100.74 | 18.08 |
Last Updated on 31-Dec-2023 06:02:44
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Electro Force India SME IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Electro Force India SME IPO with Zerodha.
Alternate approch to apply in Electro Force India SME IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Electro Force India SME IPO Review and Important Updates
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To subscribe or apply in Electro Force India SME IPO, you can use the following methods:
| Electro Force India SME IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Electro Force India SME IPO directly with your brokers website. Example HDFC Sky, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Electro Force India SME IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Electro Force India SME IPO. Most of the Syndicate Banks provide access to apply in Electro Force India IPO via ASBA process. You must have your net banking access, DP ID information to apply in Electro Force India SME IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Electro Force India SME IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Electro Force India SME IPO Review and Important Updates
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Electro Force India SME IPO is going to be list on 27-12-2023. NSE Code for Electro Force India is EFORCE.
Other relevant questions:
When Electro Force India SME IPO will be listing? Electro Force India SME IPO NSE listing date?Electro Force India SME IPO date of listing
Electro Force India SME IPO Allotment Date is 22-12-2023.
Other relevant questions:
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