Evans Electric Limited IPO: GMP, Price, Issue size & Dates

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Evans Electric Limited IPO is all about to make its debut on 30 April 2019 with issue size of INR 1.93cr

Evans Electric Ltd, a Mumbai-based company founded in 1951, specialises in redesigning, repairing, and rewinding transformers, generators, and electric motors using replacement parts that are produced on-site. Insulation components, brush holders, coils, slip rings, insulators, retention rings, allied specialised equipment & tools, wedges, stampings, and packers are a few of the replacement goods that the company manufactures. It has a 30,000 square foot production unit in Palghar, Maharashtra that offers repairing and rewinding services as well as producing replacement parts.

The business also offers contract-based services for the maintenance and repair of turbo rotors, low- and high-voltage electric motors (AC and DC), turbo generator stators, transformers, generators, hydro rotors, hydro generator stators, field poles, high-voltage coil manufacturing, diagnostic testing, high-voltage coil manufacturing, and vacuum impregnation. The business also offers contract-based services to other nations, and Sri Lanka, Malaysia, and Bangladesh have successfully placed orders with it.

INDUSTRY OVERVIEW

India’s GDP growth, which exceeded 7% for the third year in a row in 2016-17, is estimated to slow down to 6.5% in 2017-18, according to the latest figures from CSO. This is lower than the projected range of 6.5%-6.75%. However, India’s GDP growth rate from 2014-15 to 2017-18 averaged at 7.3%, the highest among major economies, despite lower inflation, improved current account balance, and reduced fiscal deficit to GDP ratio. The introduction of GST and resolution of non-performing assets have strengthened the momentum of reforms, while export growth has rebounded, and foreign exchange reserves have reached nearly US$ 414 billion.

Evans Electric IPO Details

IPO DateApr 30, 2019 to May 3, 2019
Listing DateMonday, May 13, 2019
Face Value₹10 per share
Price₹52 per share
Lot Size2000 Shares
Issue Size372,000 shares of ₹10
(aggregating up to ₹1.93 Cr)
Market Maker portion20,000 shares
Issue TypeFixed Price Issue IPO
Listing AtBSE SME
Company PromotersMr. Ivor Anthony Desouza is the promoter of the company.
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Evans Electric IPO Tentative Dates

Evans Electric IPO opens on Apr 30, 2019, and closes on May 3, 2019. The Evans Electric IPO bid date is from Apr 30, 2019 10.00 A.M. to May 3, 2019 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

EventTentative Date
Opening DateApr 30, 2019
Closing DateMay 3, 2019
Basis of AllotmentMay 8, 2019
Initiation of RefundsMay 9, 2019
Credit of Shares to DematMay 10, 2019
Listing DateMay 13, 2019

Company Financials

ParticularsFor the year/period ended (in Rs. Lakhs)
31-Oct-1831-Mar-1831-Mar-1731-Mar-16
Total Assets873.27839.65948.54560.49
Total Revenue376.90561.161,060.49502.69
Profit After Tax58.0646.30236.6941.48

Objects of the Issue

The company plans to use the proceeds from the issuance for the following purposes:

  • Fulfilling working capital needs
  • Supporting general corporate objectives
  • Covering the expenses associated with the issuance.

Evans Electric IPO Prospectus

Company Contact Information

Evans Electric Limited
430, Orchard Mall, 3rd Floor,
Royal Palms Estate, Aarey Milk Colony,
GoregaonEast, Mumbai, 400065
Phone: +91-022-28729506
Email: cs@evanselectric.co.in
Websitehttp://www.evanselectric.co.in

Evans Electric IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Websitehttps://www.bigshareonline.com/

Evans Electric IPO Lead Manager(s)

  1. Hem Securities Limited (Past IPO Performance)

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