Business Standard

Electro Force (India) Ltd - IPO

Issue Type

Fixed Price - SME

Issue Size (₹ Cr.)

80.68 cr

Price Range (₹)

93

Lot Size

1200

Min Investment (₹)

1,11,600.00

Listing Exchange

NSE - SME

Open Date

19-Dec-2023

Close Date

21-Dec-2023

Listing Date

27-Dec-2023

Electro Force (India) Ltd News

    The Shares of Electro Force (India) Ltd have now been listed.

    Electro Force (India) Ltd IPO Details

    Initial public offering of 86,74,800 equity shares of face value of Rs. 10/- each (Equity Shares) of Electroforce (India) Limited (The Company or The Issuer Company) for cash at a price Rs. 93/- per equity share (including a share premium of Rs. 83 /- per equity share) (Offer Price) aggregating to Rs. 80.68 crores, the offer comprises fresh issue of 60,00,000 equity shares aggregating to Rs. 55.80 crores (Fresh Issue) and an offer for sale of 26,74,800 equity shares by the selling shareholder aggregating to Rs. 24.88 crores (the Selling Shareholder) (the Offer for Sale, and together with the fresh issue, the Offer). Out of which 4,35,600 equity shares of face value of Rs. 10/- each for a cash price of Rs. 93 /- per equity share, aggregating to Rs. 4.05 crores will be reserved for subscription by market maker (Market Maker Reservation Portion). The issue less the market maker reservation portion i.e. issue of 82,39,200 equity shares of face value of Rs. 10/- each at an issue price of Rs. 93/- per equity share aggregating to Rs. 76.63 crores (is hereinafter referred to as the Net Issue). The issue and the net issue will constitute 37.07% % and 35.21 %, respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10.00 each and the offer price of Rs. 93/- is 9.30 time of the face value.s

    Objective of issue

    Funding additional working capital requirements of the company. Pursuing inorganic growth. General corporate purposes.

    Electro Force (India) Ltd Contact Details

    Electro Force (India) Ltd, D-153/A 1st Flr, Okhla Industrial Are, Phase-I, New Delhi-110020

    Phone - 91-11-26812682

    Fax - 91-11-30857562

    Email - compliance@electroforceindia.com

    Website - www.electroforceindia.com