PNN
Mumbai (Maharashtra) [India], June 21: Shivalic Power Control Limited, a specialized electrical panel manufacturer, has announced its plan to go public with an Initial Public Offering (IPO) on June 21, 2024. The company aims to raise Rs 64.32 crore in the upper band through this IPO, and the shares will be listed on the NSE Emerge platform.
The issue size is up to 64,32,000 shares with a face value of Rs 10 each.
Share Allocation
* QIB anchor portion: up to 18,28,800 equity shares
*Qualified Institutional Buyers (QIB): Up to 12,19,200 equity shares
* Non-institutional investors: up to 9,14,400 equity shares
* Retail Individual Investors (RII): Up to 21,33,600 shares
* Market maker: up to 3,36,000 equity shares
The net proceeds from the IPO will be used to meet working capital requirements, to fund capital expenditures, including the acquisition of new machinery and the construction of a new assembly line by adding a roof, to support inorganic growth through of unidentified acquisitions and for corporate businesses in general. purposes. Bidding for the Anchor part will open on June 21, 2024, the issue will open for subscription for all other categories from June 24, 2024 and will close on June 26, 2024.
The lead manager of the issue is Corporate Capital Ventures Private Limited. The registrar of the issue is Skyline Financial Services Private Limited.
Amit Kanwar Jindal, Founder and Managing Director, Shivalic Power Control Limited, said, "At Shivalic Power Control Limited, we have built a strong foundation with over 20 years of industry experience. Our partnerships with industry leaders like Siemens, Schneider Electric, L&T, and TDK highlight our commitment to quality and innovation. The upcoming IPO will provide the necessary financing to enhance our working capital, meet the growing demand for our panels and drive rapid expansion in the data center sector. development.
Our strategic focus on value-added offerings such as process automation, leveraging economies of scale and improving product quality through direct sourcing from OEMs positions us well for future growth. Our emphasis on export markets, particularly in Africa and the Middle East, is contributing significantly to our expansion efforts. With a modern facility at IMT Faridabad and a dedicated team, we are poised to capitalize on emerging opportunities in the IT and data center industry in India. “This IPO is a crucial step in supporting our strategic objectives and continuing our legacy of excellence in the electrical panel industry.”
Kulbhushan Parashar, Director, Corporate Capital Ventures Private Limited, said: "Demand for advanced electrical panels in India's booming data center and renewable energy sectors is increasing significantly. Shivalic Power Control Limited, with its strong in-house manufacturing and strategic partnerships with As industry leaders, Shivalic is well positioned to capitalize on this growth. The proceeds from the IPO will fuel its efforts to expand production capacity, integrate smart technologies to improve efficiency and reliability, and solidify market presence. .changing needs of our customers and contribute to India's renewable energy goals."
Mumbai (Maharashtra) [India], June 21: Shivalic Power Control Limited, a specialized electrical panel manufacturer, has announced its plan to go public with an Initial Public Offering (IPO) on June 21, 2024. The company aims to raise Rs 64.32 crore in the upper band through this IPO, and the shares will be listed on the NSE Emerge platform.
The issue size is up to 64,32,000 shares with a face value of Rs 10 each.
Share Allocation
* QIB anchor portion: up to 18,28,800 equity shares
*Qualified Institutional Buyers (QIB): Up to 12,19,200 equity shares
* Non-institutional investors: up to 9,14,400 equity shares
* Retail Individual Investors (RII): Up to 21,33,600 shares
* Market maker: up to 3,36,000 equity shares
The net proceeds from the IPO will be used to meet working capital requirements, to fund capital expenditures, including the acquisition of new machinery and the construction of a new assembly line by adding a roof, to support inorganic growth through of unidentified acquisitions and for corporate businesses in general. purposes. Bidding for the Anchor part will open on June 21, 2024, the issue will open for subscription for all other categories from June 24, 2024 and will close on June 26, 2024.
The lead manager of the issue is Corporate Capital Ventures Private Limited. The registrar of the issue is Skyline Financial Services Private Limited.
Amit Kanwar Jindal, Founder and Managing Director, Shivalic Power Control Limited, said, "At Shivalic Power Control Limited, we have built a strong foundation with over 20 years of industry experience. Our partnerships with industry leaders like Siemens, Schneider Electric, L&T, and TDK highlight our commitment to quality and innovation. The upcoming IPO will provide the necessary financing to enhance our working capital, meet the growing demand for our panels and drive rapid expansion in the data center sector. development.
Our strategic focus on value-added offerings such as process automation, leveraging economies of scale and improving product quality through direct sourcing from OEMs positions us well for future growth. Our emphasis on export markets, particularly in Africa and the Middle East, is contributing significantly to our expansion efforts. With a modern facility at IMT Faridabad and a dedicated team, we are poised to capitalize on emerging opportunities in the IT and data center industry in India. “This IPO is a crucial step in supporting our strategic objectives and continuing our legacy of excellence in the electrical panel industry.”
Kulbhushan Parashar, Director, Corporate Capital Ventures Private Limited, said: "Demand for advanced electrical panels in India's booming data center and renewable energy sectors is increasing significantly. Shivalic Power Control Limited, with its strong in-house manufacturing and strategic partnerships with As industry leaders, Shivalic is well positioned to capitalize on this growth. The proceeds from the IPO will fuel its efforts to expand production capacity, integrate smart technologies to improve efficiency and reliability, and solidify market presence. .changing needs of our customers and contribute to India's renewable energy goals."
