Shivalic Power Control IPO Review

 
Shivalic Power Control IPO Review

IPO Open Date: June 24, 2024

IPO Close Date: June 26, 2024

IPO Price: ₹95 to ₹100 per share

Lot Size: 1200 Shares

Listing: July 01, 2024

Shivalic Power Control is scheduled to hit the market on June 24, 2024 and close on June 26, 2024. Shivalic Power Control plans to raise around ₹64.32 Cr through an IPO with a sale of up to 6,432,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Shivalic Power Control Limited, established in 2004, specializes in manufacturing a wide range of electric panels such as PCC Panels, IMCC Panels, Smart Panels, MCC Panels, DG Synchronisation Panels, and more. The company holds authorizations from industry giants like L&T, Siemens, Schneider Electric, and TDK to produce fully type-tested panels in accordance with standards like IEC 61439-1&2, IEC 61641, and IS1893. Their manufacturing facility in Faridabad, Ballabgarh, Haryana, adheres to international quality management, environmental management, and occupational health and safety standards defined by ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. Additionally, the company exports its products to over 15 industrial sectors across India and internationally to countries like Nepal, Bangladesh, Uganda, Kenya, Nigeria, and Algeria.

With a production capacity of 10,000 verticals per annum, Shivalic Power Control Limited specializes in manufacturing 11kV and 33kV HT Panels at their Faridabad unit. As of December 31, 2023, the company boasts a dedicated team of 180 employees who contribute to the company's success in providing high-quality electric panels to a diverse range of industries. Through their commitment to meeting stringent international standards and their extensive product portfolio, the company continues to establish itself as a prominent player in the electric panel manufacturing industry both in India and abroad.

Shivalic Power Control



Shivalic Power Control IPO Details

Shivalic Power Control IPO opens on June 24, 2024, and closes on June 26, 2024. The Listing date for Shivalic Power Control IPO is on July 01, 2024. The price band for IPO is ₹95 to ₹100 per share and lot size of 1200 Shares.

IPO DateJune 24, 2024 to June 26, 2024
Listing DateJuly 01, 2024
Price₹95 to ₹100 per share
Lot Size1200 Shares
Issue Size₹64.32 Cr
Face Value₹10 per share

Shivalic Power Control IPO Tentative Timetable

Shivalic Power Control opening date is June 24, 2024 and close date is June 26, 2024. The IPO allotment date is June 27, 2024. The refund initiation of IPO is on June 28, 2024. The credit of shares in demat account is on June 28, 2024. The listing date is on July 01, 2024.

EventDate
IPO OpeningJune 24, 2024
IPO ClosingJune 26, 2024
IPO Allotment DateJune 27, 2024
Refund InitiationJune 28, 2024
Shares Credit to DematJune 28, 2024
Lisiting DateJuly 01, 2024

Shivalic Power Control IPO Lot Size

Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹120,000).

CategoryLotsSharesAmount
Retail(Minimum)11200₹120,000
Retail(Maximum)11200₹120,000
S-HNI (Minimum)22400₹240,000

Shivalic Power Control IPO Promoter Holding

Pre Issue Share Holding96.63%
Post Issue Share Holding70.86%

Shivalic Power Control IPO Review

SPCL has shown average growth in its top line but significant improvement in its bottom line since FY23, raising questions about the sustainability of this performance. The company reported a total income of Rs. 82.69 crore and a net profit of Rs. 7.16 crore for FY23, a substantial increase from the previous years. For the nine months ending December 31, 2023, SPCL recorded a total income of Rs. 63.79 crore and a net profit of Rs. 7.60 crore. This sudden boost in profitability in the pre-IPO years is noteworthy and requires careful consideration by potential investors. For the last three fiscals, SPCL has posted an average EPS of Rs. 2.50 and an average RoNW of 23.10%. The IPO is priced at a P/BV of 5.58 based on its NAV of Rs. 17.93 as of December 31, 2023, which adjusts to 2.54 post-IPO. If we attribute annualized FY24 earnings to its post-IPO fully diluted paid-up capital, the asking price is at a P/E of 23.81, suggesting the issue is fully priced, discounting near-term positives.

SPCL’s IPO aims to raise Rs. 64.32 crore by issuing 6,432,000 equity shares at a price band of Rs. 95 – Rs. 100 per share. The proceeds will be used for working capital (Rs. 30.03 crore), capex on new machinery and assembly lines (Rs. 7.64 crore), inorganic growth (Rs. 5.75 crore), and general corporate purposes. Post-IPO, the company’s paid-up equity capital will increase from Rs. 17.68 crore to Rs. 24.12 crore, targeting a market cap of Rs. 241.16 crore at the upper price band. The issue is managed by Corporate Capitalventures Pvt. Ltd., with Skyline Financial Services Pvt. Ltd. as the registrar. Notably, Corporate Capital has a strong track record of IPOs opening at premiums, enhancing the attractiveness of this investment.

Shivalic Power Control Ltd. operates in a highly fragmented LT & HT electric panel manufacturing segment. While the company has shown average growth in its revenue, the significant boost in profitability from FY23 onwards is surprising and raises concerns about its sustainability. Based on FY24 super annualized earnings, the IPO appears fully priced. Investors should consider the aggressive pricing and the recent financial performance surge before investing. For well-informed investors with cash surplus, parking moderate funds for potential long-term rewards could be a viable strategy, given the company's robust market presence, technological focus, and solid track record in securing high-value orders.

Shivalic Power Control IPO Subscription Status (Bidding Details)

Table not found

Shivalic Power Control IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Shivalic Power Control IPO FAQs

What is Shivalic Power Control IPO?

Shivalic Power Control is issuing 6,432,000 equity shares with a face value of ₹10 each, totaling up to ₹64.32 Cr. The shares are being offered at a price of ₹95 to ₹100 each, with a minimum order quantity of 1200 shares.

Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Shivalic Power Control IPO will open?

Shivalic Power Control will open on June 24, 2024 for QIB, NII, and Retail Investors.

When Shivalic Power Control IPO will end?

Shivalic Power Control will end on June 26, 2024.

What is Shivalic Power Control IPO Size?

Shivalic Power Control IPO size is 64.32 Cr.

What is Shivalic Power Control IPO Price Band?

Shivalic Power Control price band is ₹95 to ₹100 per share.

What is the Shivalic Power Control IPO Allotment Date?

Shivalic Power Control allotment date is June 27, 2024.

What is the Shivalic Power Control IPO Listing Date?

Shivalic Power Control listing date is July 01, 2024. The IPO is to be listed on BSE and NSE.

How to Shivalic Power Control IPO through Zerodha?

To apply for the IPO “Shivalic Power Control” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Shivalic Power Control IPO through Upstox?

To apply for the IPO “Shivalic Power Control” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Shivalic Power Control IPO Allotment Status?

For Shivalic Power Control IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Shivalic Power Control IPO GMP?

You can check out here: Shivalic Power Control IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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