Shivalic Power Control IPO

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24th – 26th Jun 2024
01 Jul 2024
₹95 – ₹100
1200 shares (₹120000)
64cr

Schedule

Issue open date 24 Jun 2024
Issue close date 26 Jun 2024
UPI mandate deadline 26 Jun 2024 (5 PM)
Allotment finalization 27 Jun 2024
Refund initiation 28 Jun 2024
Share credit 28 Jun 2024
Listing date 01 Jul 2024
Mandate end date 11 Jul 2024
Lock-in end date for anchor investors (50%) 27 Jul 2024
Lock-in end date for anchor investors (remaining) 25 Sep 2024

About

Shivalic Power Control Limited’s IPO is launching on June 24, 2024, with subscriptions closing on June 26, 2024. Shivalic is a technology-driven company specializing in high-quality, customizable electric panels. With a 1,25,000 Sq. Feet manufacturing unit, they produce a wide range of panels including PCC, IMCC, Smart, MCC, and more, up to 33KV. Accredited by industry leaders like L&T and Siemens, they adhere to international standards for panel manufacturing.

Founded by Mr. Amit Kanwar Jindal in 2004, Shivalic has grown to serve over 500 clients across diverse industries including Sugar, Cement, and Automobile. Recently expanding into data centers, they secured a major LT works order for RBI’s Bhubaneshwar Data Centre from HPE in November 2023, marking a significant milestone in their business trajectory.

Funds Raised in the IPO Amount
Overall ₹64.32 crores
Fresh Issue ₹64.32 crores
Offer for sale

Financial Snapshot

Financial Year Ended March 2021 March 2022 March 2023 December 2023
Total Assets 30.24 41.09 39.62 60.04
Revenue 52.22 57.33 82.15 63.55
Profit After Tax 0.67 1.74 7.16 7.60
EPS 6.69 17.39 71.25 75.62

*All figures except EPS are in ₹ Crores

Risk factors

  • Bank Guarantees default: The company has provided ₹ 694.87 lakh in bank guarantees to clients, but cannot guarantee against future defaults. Defaults could impact cash flow, financial position, and relationships with lenders, potentially hindering future growth and capital raising.
  • Dependency on State Revenues: The majority of their state-wise revenues over the last three years are significantly reliant on Haryana, any adverse developments affecting operations in Haryana could adversely impact the overall revenue and operational results.
  • Order basis business model: The company conducts business solely through purchase orders without long-term contracts or exclusive agreements with customers. It relies on ongoing relationships with customers and its in-house sales team to secure orders.

Note:

  • The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
  • The allotment status will be available by June 28, 2024, on the Registrar’s website and the NSE website.