Shivalic Power Control IPO: Check price band, lot size and other key details

The initial public offer (IPO) of electric panel manufacturer Shivalic Power Control Ltd opened for subscription on Monday, June 24. The public offer is open for bidding till June 26 on the SME platform of the National Stock Exchange, Emerge. The company seeks to raise a total of ₹ 64.32 crore through the IPO. Here are the five top things to know about the Shivalic Power Control Limited IPO.

Shivalic Power Control IPO subscription date

The SME public offer of Shivalic Power Control Ltd is open for subscription from June 24 (Monday) to June 26 (Wednesday).

Shivalic Power Control IPO details

The ₹64.32 crore public offer of Shivalic Power Control Ltd comprises a fresh issue of 64.32 lakh shares of ₹10 each. The company has set aside 3,36,000 equity shares for the market makers.

Of the net issue size of 60,96,000 shares, as many as 30,48,000 equity shares have been marked for qualified institutional buyers. Of the QIB quota, anchor investors have been allotted 18,28,800 shares to raise a total of ₹18.28 crore.

Retail investors can bid for 21,33,600 equity shares while non-institutional investors can bid for 9,14,400 equity shares.

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Shivalic Power Control IPO price band and lot size

The company has fixed the price band for the IPO at ₹95 to ₹100 per share. The lot size is 1,200 shares for retail investors. The minimum investment is ₹120,000 for retail investors. The lot size for high-networth individuals is 2,400 shares (2 lots), and the minimum investment required is ₹240,000.

Corporate Capitalventures Pvt Ltd is the book-running lead manager. Skyline Financial Services Private Ltd is the IPO registrar while Ss Corporate Securities is the market maker of Shivalic Power Control public offer.

Shivalic Power Control IPO allotment and listing date

Shivalic Power Control is expected to announce the share allotment status on June 27 (Thursday) following the successful close of the IPO. The company is likely to initiate refunds and credit of shares to demat accounts on June 28. Shivalic Power Control has proposed to list shares on the NSE SME platform on July 1.

Shivalic Power Control IPO objective

The company has proposed to use the IPO proceeds mainly to meet the working capital requirements, buy new machines, construct a new assembly line, and fund growth through inorganic acquisitions.

Shivalic Power Control will utilise ₹30.02 crore of the IPO proceeds for funding working capital requirements. Shivalic Power will use ₹5.81 crore for buying new machines and ₹1.82 crore for the construction of a new assembly line. The company will set aside ₹5.75 crore for inorganic growth through unidentified acquisitions and the rest for general corporate purposes and IPO expenses.

Shivalic Power Control Ltd is an ISO-certified low-tension and high-tension electric panel manufacturer. It has a manufacturing facility at Faridabad in Haryana. The company reported revenue of ₹82.15 crore in 2022-23 against ₹57.33 crore in the previous FY22 year.

Revenue from operations stood at ₹63.56 crore in the first three quarters of the 2023-24 fiscal.

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