Shivalic Power Control Ltd IPO update:
The initial public offering (IPO) of Shivalic Power Control Ltd, a manufacturer of electric panels, is set to close today, June 26, after receiving a phenomenal response. The IPO, which opened for public subscription on June 24, has garnered significant interest from investors.
As of 2:41 pm on the final day of bidding, the Rs 64.32-crore IPO was subscribed 152.61 times, with bids for 65,12,37,600 shares against the 42,67,200 shares on offer.
High Subscription Rates Across Investor Categories
- Non-Institutional Investors: 203.81 times subscription
- Retail Individual Investors (RIIs): 178.46 times subscription
- Qualified Institutional Buyers (QIBs): 69 times subscription
Key Dates: Allotment and Listing
- IPO Closing Date: June 26
- Allotment Finalization: Expected on June 27
- Listing Date: July 1 on the NSE SME
Pricing and Lot Size
- Price Band: Rs 95 to Rs 100 per share
- Minimum Investment: Investors need to apply for a minimum of 1,200 equity shares, translating to a minimum investment of Rs 1,20,000 (1,200 shares x Rs 100 upper price band).
Grey Market Premium (GMP)
According to market observers, the unlisted shares of Shivalic Power Control Ltd are trading at a Rs 175 premium in the grey market, indicating a 175 percent expected listing gain from the public issue. The GMP reflects investor sentiment and is subject to change.
Company Overview and Financial Performance
Founded in 2004, Shivalic Power Control Ltd specializes in manufacturing a range of electric panels, including PCC Panels, IMCC Panels, Smart Panels, MCC Panels, and more. The company has seen substantial growth, with revenue increasing by 44.03 percent and profit after tax (PAT) rising by 309.78 percent between the financial years ending March 31, 2023, and March 31, 2022.
IPO Management
- Book Running Lead Manager: Corporate Capitalventures Pvt Ltd
- Registrar: Skyline Financial Services Private Ltd
- Market Maker: Ss Corporate Securities
