Schedule of Shivalic Power Control
| 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 |
Note: The 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 can be checked on the registrar's website and the exchange website.
About Shivalic Power Control
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 centres, 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.
Financials of Shivalic Power Control
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹64.32 crores |
| Fresh Issue | ₹64.32 crores |
| Offer for sale | – |
*All figures except EPS are in ₹ Crores
Risks
- 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.