Shivalic Power Control IPO bidding starts from Monday, June 24 and ends on Wednesday, June 26. The IPO is a book-built issue of Rs. 64.32 crores. The issue is entirely fresh issue of 64.32 lakh equity shares, out of which 3.36 lakh shares is for Market Maker Portion and anchor allocation of 18.28 lakh shares. Price range of the issue is set to ₹95 to ₹100 per equity shares with a face value of ₹10 each. The issue shall be listed on NSE SME (small and medium enterprises) with tempting date fixed as Monday, July 1.
The minimum lot size of the issue is 1200 equity shares and in multiples thereof. The minimum amount of investment required for retail is ₹1,20,000. The minimum bid size for HNI’s is 2 lots, aggregating to ₹2,40,000. The company has reserved 50% of shares in the issue for QIB’s, 35% for Retails and 15% for NII’s (non-institutional investors).
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Corporate Capital Ventures Private Limited is book-running lead manager. HDFC Bank Limited is sponsor bank of the issue. Skyline Financial Services Private Limited is registrar of the IPO.
Financials
| Particulars | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Revenue | 63.79 | 82.69 | 57.33 | 52.22 |
| PAT | 7.60 | 7.16 | 1.75 | 0.67 |
| PAT Margin | 11.91% | 8.66% | 3.05% | 1.28% |
| Cash Flow | -7.56 | 4.12 | 3.72 | -2.37 |
| Borrowings | 33.29 | 23.54 | 27.22 | 23.94 |
The company has a total borrowings of ₹33.29 crores, out of which ₹25.30 crores is short-term borrowings and ₹7.99 crores is long-term borrowings.
Risk Factors
- The company had negative cash flows in the past years, sustained negative cash flow could impact it’s growth and business.
- The company has availed unsecured loan of Rs. 4.22 crores which are repayable on demand. Any demand from the lenders for repayment of such loan may affect its cash flow and financial condition.
- Its top ten clients contribute approx. 40.77 % of its revenue from operations.
- The company is involved in certain legal proceeding(s) potential litigations. Any adverse decision in such proceeding(s) may render them liable to penalties and may adversely affect our business and results of operations.
Object of the Issue
- To meet out the working capital requirements of the company,
- To meet out the capital expenditure of the company,
- To meet out the inorganic growth through unidentified acquisition for company,
- To meet out the General corporate expenses.
About Shivalic Power Control Limited
Founded in 2004 by Mr. Amit Kanwar Jindal, SPCL is an ISO-certified LT and HT electric panel manufacturer. The growth of profit from last few years is surprising.
