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 Date | Apr 30, 2019 to May 3, 2019 |
| Listing Date | Monday, May 13, 2019 |
| Face Value | ₹10 per share |
| Price | ₹52 per share |
| Lot Size | 2000 Shares |
| Issue Size | 372,000 shares of ₹10 (aggregating up to ₹1.93 Cr) |
| Market Maker portion | 20,000 shares |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Company Promoters | Mr. Ivor Anthony Desouza is the promoter of the company. |
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.
| Event | Tentative Date |
|---|---|
| Opening Date | Apr 30, 2019 |
| Closing Date | May 3, 2019 |
| Basis of Allotment | May 8, 2019 |
| Initiation of Refunds | May 9, 2019 |
| Credit of Shares to Demat | May 10, 2019 |
| Listing Date | May 13, 2019 |
Company Financials
| Particulars | For the year/period ended (in Rs. Lakhs) | |||
|---|---|---|---|---|
| 31-Oct-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 873.27 | 839.65 | 948.54 | 560.49 |
| Total Revenue | 376.90 | 561.16 | 1,060.49 | 502.69 |
| Profit After Tax | 58.06 | 46.30 | 236.69 | 41.48 |
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
Website: http://www.evanselectric.co.in
Evans Electric IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
Evans Electric IPO Lead Manager(s)
- Hem Securities Limited (Past IPO Performance)
