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- Shivalic Power Control Ltd
Shivalic Power Control Ltd
The Promoter Mr. Amit Kanwar Jindal started the Company in 2004 with Low Voltage Panel assembly to constantly provide quality products by adapting to the latest technologies. During this journey of two decades, it served more than 500+ Clients in different industries such as Sugar, Papers, Cement, Steel, FMCG, Automobile etc.
In 2013, Mr Jindal acquired 50% share from Mr. Som Sharma 'One of the First Director' of Company to hold whole interest in the Company.
In 2022, Shivalic exported their PCC panels to Mongol refinery project via Kalpataru Power Transmission Limited
The Company is an ISO-certified LT and HT electric panel manufacturer with an operating history of 20 years. The in-house manufacturing unit allowed the Company to manufacture a diversified range of electric panels such as 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. The manufacturing facility is located at Ballabgarh, in Haryana, having a production capacity of 10,000 Verticals per annum.
The Company has a dedicated team of engineers who are experts in designing and developing advanced designs which enable to manufacture the Techno Modular Design - Fully Bolted Panels with Aluminium and Copper Bus Bar, which make different from traditional welding panel manufacturers with a strong focus on the quality of the panel.
Electrical Panel is an electrical distribution board that receives power from generator or transformer and distributes the same to various electronic devices and distribution boards. It gives an operator full access to the whole electric system of a specific location within one large electric board, and with that access, operators can monitor and maintain the entire electric power system. An electrical panel provides the fastest and easiest method of troubleshooting and clearing issues, and multiple protection devices within an electrical panel give safety to the whole power system of a specific power system.
The Company is proposing the Fresh Public Issue of 64,32,000 Equity Shares.
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Shivalic Power Control Ltd IPO Timeline
Shivalic Power Control Ltd IPO opens on 24-Jun-2024, and closes on 26-Jun-2024. The Shivalic Power Control Ltd IPO bid date is from 24-Jun-2024 to 26-Jun-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Shivalic Power Control Ltd IPO Opening Date | 24-Jun-2024 |
| Shivalic Power Control Ltd IPO Closing Date | 26-Jun-2024 |
| Basis of Allotment | 27-Jun-2024 |
| Initiation of Refunds | 27-Jun-2024 |
| Credit of Shares to Demat | 28-Jun-2024 |
| Shivalic Power Control Ltd IPO Listing Date | 01-Jul-2024 |
Shivalic Power Control Ltd IPO Lot Size
Shivalic Power Control Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 120000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹120000 |
| Maximum | 1 | 1200 | ₹120000 |
Shivalic Power Control Ltd IPO Details
| Shivalic Power Control Ltd IPO Date | 24-Jun-2024 to 26-Jun-2024 |
| Shivalic Power Control Ltd IPO Face Value | Shares of ₹10 per share |
| Shivalic Power Control Ltd IPO Price | ₹95 to ₹100 per share |
| Shivalic Power Control Ltd IPO Lot Size | 1200 |
| Issue Size | Shares of ₹10 (aggregating up to ₹64.32 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹64.32 Cr) |
| Offer for Sale | - |
| Issue Type | Book Building - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Amit Kanwar Jindal, Sapna Jindal. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 To meet the working capital requirements of the company
- 2 Funding for procerement of new machineries
- 3 Construction of new assembly line by shedding the roof
- 4 To meet out the inorganic growth through unidentified acquisition for company
- 5 General corporate expenses
Company Financials
Shivalic Power Control Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2023 | 58.27 | 82.69 | 7.16 |
| 03-2022 | 60.98 | 57.41 | 1.75 |
| 03-2021 | 48.69 | 52.38 | 0.67 |
| Amount in ₹ Crore | |||
- Experienced Promoter and management team with strong industry expertise and successful track record.
- Modern facility set up in Faridabad equipped with advance technology.
- Strong financial position, reducing leverage & increasing returns to scales.
- Strategic Partnerships with world leading OEMs for component procurement.
- Highly passionate & focused on Quality Assurance, backed by ISO certifications.
- Marquee clientele.
- The object of making unidentified acquisitions may lead to significant investments in the businesses that may not be sustainable in the long run, which may result in financial losses and negatively impact the company's overall portfolio.
- The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment / machineries. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment / machineries in a timely manner, or at all, the same may result in time and cost over-runs.
- The Company has given Guarantees of Rs. 694.87 Lakh in favour of its clients through Bank Guarantees. The company cannot assure that there will be no default in the future.
- Its lenders have charged over the company movable, immovable properties and book debts in respect of finance availed by it.
- Inventories and trade receivables form a major part of its current assets. Failure to manage the company inventory and trade receivables could have an adverse effect on its sales, profitability, cash flow and liquidity.
- Its top ten clients contribute approximately 40.77%, 53.02%, 56.78% and 82.97% of the company revenues from operations for the period ended December 31, 2023 and for the year ended March 31, 2023, March 31, 2022 and March 31, 2021 respectively. Any loss of business from one or more of them may adversely affect its revenues and profitability.
- The Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
- The Company has availed secured short-term working capital loan of Rs. 2,529.88 lakhs and unsecured loan of Rs. 422.18 lakhs which are repayable on demand. Any demand from the lenders for repayment of such loan may affect its cash flow and financial condition.
- The Company is involved in certain legal proceeding(s) potential litigations. Any adverse decision in such proceeding(s) may render it/them liable to liabilities/penalties and may adversely affect its business and results of operations.
- Risk of Forward integration by the OEMs to direct manufacture the electric control panels or cancellation of its tie-up with the OEMs.
- Majority of itw state wise revenues from operations for the last 3 years and for the stub period is dependent majorly on Haryana. Any adverse developments affecting its operations in these states could have an adverse impact on its revenue and results of operations.
- The company relies on a limited number of suppliers for sourcing its raw materials. Furthermore, the company has not entered into any long-term agreement or contract of supply of raw materials and consequently are exposed to price and supply fluctuations for its raw materials.
- Its business is dependent on the company manufacturing facilities and its subject to certain risks in the company's manufacturing process. Obsolescence, destruction, theft, breakdowns of its major plants or machineries or failures to repair or maintain the same could have a material adverse effect on its business, results of operation or financial condition may affect its business, cash flows, financial condition and results of operations.
- The company is subject to strict quality requirements, OEMs inspections and audits, and any failure to comply with quality standards may lead to cancellation of its tie-up with the company OEMs that could negatively impact its reputation and the company's business and results of operations and future prospects.
- The company has applied for registration of logo SHIVALIC LT & HT ELECTRICAL PANELS and does not own the trademark legally as on date. The company may be unable to adequately protect its intellectual property. Further more, the company may be subject to claims alleging breach of third-party intellectual property rights.
- The company generally doing business with its customers on purchase order basis and does not enter into long term contracts with them.
- Its Promoter/ Directors have mortgaged their properties and provided personal guarantees to secure certain of its loan facilities, which if revoked or invoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
- If the company does not successfully develop or commercialise new products in a timely manner or as per the requirement of the industry, or if the products that its commercialise does not perform as expected, the company's business, results of operations and financial condition may be adversely affected.
- There are certain discrepancies and non- compliances noticed in some of its corporate records relating to forms filed with the Registrar of Companies, taxation authorities and other public authorities.
- The company is 100% dependent on third-party transportation providers for the supply of raw materials and delivery of its finished products.
- The company depends on its promoters, directors, key managerial personnel and senior management and the company heavily reiies on their knowledge and experience in operating its business and therefore, it is critical for the company's business that they remain associated with it.
- The company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
- As the company is manufacturing company, the company has power requirements for continuous running of its factories. Any disruption to its operations on account of interruption in power and water supply or any irregular or hike in power tariffs may have an effect on its business, results of operations and financial condition.
- Its business requires significant amount of working capital. If the company experience insufficient cash flows from its operations or are unable to borrow funds to meet the company working capital requirements, it may materially and adversely affect its business and results of operations.
- Its Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company even after the Issue which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The Company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- Its insurance coverage may not be adequate to protect the company against certain operating hazards and this may have a material adverse effect on its business.
- The average cost of acquisition of Equity Shares by its Promoters could be lower than the issue price.
- Its Promoters have interest in the Company, other than reimbursement of expenses incurred or remuneration.
- Its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- The Price of its Equity Shares may be volatile, or an active trading market may not develop.
- The Objects of the Issue for which funds are being raised, are based on its management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at our discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
- Strikes, work stoppages or increased wage demands by its employees or any other kind of disputes with the company employees/workmen in future could adversely affect its business and results of operations.
- Compliance with, and changes in, safety, health and environmental laws and various labour, workplace and related laws and regulations impose additional costs and may increase its compliance costs and a such adversely affect the company results of operations and its financial condition.
- The company cannot assure you that its equity shares will be listed on the SME platform of NSE in a timely manner or at all, which may restrict your ability to dispose of the equity shares.
- Sale of Equity Shares by its Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
- The Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Seizing Opportunities in the Data Center Boom: A Gateway for Electric Panel Manufacturers.
- Leverage EPC Projects for Electric Panel Manufacturing.
- Intend for Increasing its Global presence.
Shivalic Power Control Ltd IPO Promoter Holding
| Pre Issue Share Holding | 96.63% |
| Post Issue Share Holding | 70.86% |
Shivalic Power Control Ltd IPO Subscription Status (Bidding Detail)
The Shivalic Power Control Ltd IPO is subscribed 239 times on Jun 26, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 239 |
Shivalic Power Control Ltd IPO Prospectus
Shivalic Power Control Ltd IPO Listing Date
| Listing Date | 01 Jul 24 |
| BSE Script | 92925 |
| NSE Symbol | SPCL |
| Listing In | NSE - SME |
| ISIN | INE0T7B01010 |
| IPO Price | ₹100 |
| Face Value | ₹10 |
Shivalic Power Control Ltd IPO Registrar
Skyline Financial Services Pvt
Phone: +91-11-40450193-197;
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Shivalic Power Control Ltd IPO Lead Manager(s)
- Corporate Capitalventures Pvt Ltd
FAQs on Shivalic Power Control Ltd IPO
Shivalic Power Control Ltd IPO, which opens for subscription from 24-Jun-2024 to 26-Jun-2024 has an issue size of ₹64.32 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Shivalic Power Control Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Shivalic Power Control Ltd IPO Opens for subscription from 24-Jun-2024 to 26-Jun-2024.
The lot size of Shivalic Power Control Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹120000 and ₹120000 respectively.
Allotment date for Shivalic Power Control Ltd is 27-Jun-2024 and refund of application amount (in case allotment is not received) will begin from 27-Jun-2024. If your allotment goes through, then shares will be credited in your Demat account by 28-Jun-2024.
The registrar for Shivalic Power Control Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.
The shares of Shivalic Power Control Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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