IPO alert: Shivalic Power Control's SME IPO to hit D-St by July

Shivalic Power Control is planning to launch its public issue by the end of this month or early in July. The NSE Emerge-bound company will be issuing 64,32,000 Equity shares with a face value of Rs 10 each. The SME player filed its DRHP with the NSE in March 2024.
 

According to the DRHP, Shivalic Power Control will be allocating Rs 30.20 crore from the net proceeds of the issue towards working capital requirements and an additional Rs 5.81 crore shall be used to acquire new machinery. Remaining funds will be used for construction of new assembly line, inorganic growth and general corporate purposes.
 

Shivalic Power Controls is manufacturer of electric panels including PCC panels, IMCC panels, smart panels, MCC panels, outdoor panels, HT panels, CFD panels, DG synchronisation panels, LT & HT APFC panels, power distribution boards, bus ducts and more.
 

Amit Kumar Jindal, the founder and founder of Shivalic Power Controls said that the entire process of manufacturing, starting from designing, is done at their facility in Faridabad. The company is looking to increase their working capital base to get the benefit of cost optimization and discounts from vendors for payments.
 

Jindal highlighted that the widespread use of electricity across various applications reflects the evolving dynamics of the industry, presenting a significant opportunity. Additionally, he stressed the importance of ongoing innovation and efficiency, urging the industry to adopt new technologies to remain competitive.
 

The company serves some of the renowned names in the industry including Hewlett Packard, Jindal Steel & Power, DCM Shriram, Rungta Mines, Bikaji Foods, Dabur, Radico, JK Cement, Orient Papers, Escorts, Reliance Cement, Naini Paper and Yamaha Motors and more.
 

The company has recently bagged a major order for RBI data center. The company serves more than 15 sectors in India and across the globe including companies like Nepal, Bangladesh, Uganda, Kenya, Algeria and Nigeria and more.
 

The company reported a net profit Rs 7.6 crore with a revenue of Rs 63.55 crore for the nine-months ended on December 31, 2023. Its profit stood at Rs 7.16 crore with a revenue of Rs 82.15 crore for FY23. Corporate Capital Ventures is the sole book-running lead manager of the IPO, while Skyline Financial Services is the registrar for the issue.