Shivalic Power Control shares list at whopping 211% premium over its IPO price
Shivalic Power Control shares list at whopping 211% premium over its IPO price
Shivalic Power Control share price today: Shivalic Power Control, an LT and HT electric panel manufacturer with a 20-year operating history, made a strong debut on the NSE SME platform on Monday. The company's shares listed at Rs 311, a significant premium of 211% over the issue price of Rs 100. Prior to the listing, the shares were trading at a premium of Rs 175 in the unlisted market.
According to an ET report, the Shivalic Power Control IPO, which consisted entirely of a fresh equity sale of 64.32 lakh shares, received an overwhelming response from investors, with the issue being subscribed over 250 times at the close. The strong interest was driven by retail and non-institutional investors.
The net proceeds from the public offer will be utilized for various purposes, including working capital requirements, capital expenditure, inorganic growth through unidentified acquisitions, and general corporate purposes.
Shivalic Power Control's focus on quality, design, and product development has enabled the company to create products tailored to customers' needs. The company's 1.25 lakh sq ft in-house manufacturing unit allows it to produce a wide range of electric panels, including PCC Panels, IMCC Panels, Smart Panels, MCC Panels, DG synchronisation panels, Outdoor panels, HT Panels up to 33KV, VFD Panels, Power Distribution Boards, Bus Duct and LT & HT APFC Panels.
Shivalic is authorized by industry leaders such as L&T, Siemens, Schneider Electric and TDK to manufacture fully type-tested panels in accordance with IEC 61439 – 1&2, IEC 61641, and IS1893 standards, serving more than 15 industrial sectors in India and abroad.
The company's dedicated team of engineers specializes in designing and developing advanced designs, enabling the manufacture of the Techno Modular Design – Fully Bolted Panels with aluminum and copper Bus Bar. The electric control panel market is expected to experience strong growth in the coming years, reaching $7.79 billion by 2028 with a compound annual growth rate (CAGR) of 7.3%.
For the period ending December 2023, Shivalic Power Control reported total revenues of Rs 63.55 crore and a net profit of Rs 7.6 crore. Corporate Capital Ventures served as the lead manager for the issue, while Skyline Financial acted as the registrar.
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