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Shivalic power control to launch IPO with 64.32 lakh equity shares


Shivalic Power Control is set to launch its public issue by the end of this month or early July. The NSE Emerge-bound company plans to issue 64,32,000 equity shares with a face value of Rs 10 each. The SME player filed its Draft Red Herring Prospectus (DRHP) with the NSE in March 2024.

According to the DRHP, Shivalic Power Control will allocate Rs 30.20 crore from the net proceeds towards working capital requirements, and Rs 5.81 crore for acquiring new machinery. The remaining funds will be used for constructing a new assembly line, inorganic growth, and general corporate purposes. Corporate Capital Ventures is the sole book-running lead manager of the IPO, while Skyline Financial Services is the registrar for the issue.

Shivalic Power Controls manufactures a wide range 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 of Shivalic Power Controls, emphasized that the entire manufacturing process, from designing to production, is conducted at their facility in Faridabad. The company aims to increase its working capital to optimize costs and receive vendor discounts for payments. Jindal also highlighted the importance of ongoing innovation and efficiency, urging the industry to adopt new technologies to remain competitive.

Shivalic Power Controls serves renowned clients such as 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. The company recently secured a major order for the RBI data center and serves over 15 sectors in India and internationally, including clients in Nepal, Bangladesh, Uganda, Kenya, Algeria, and Nigeria.

For the nine months ending December 31, 2023, Shivalic Power Controls reported a net profit of Rs 7.6 crore with a revenue of Rs 63.55 crore. For FY23, the profit stood at Rs 7.16 crore with a revenue of Rs 82.15 crore.



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