Mumbai9 hours ago
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Shares of Shivalik Power Control were listed today i.e. Monday, July 1 at ₹ 311 on the NSE SME platform with a premium of 211%. Its issue price was Rs 100. Later it saw another increase of 5%. It closed at Rs 326.
This IPO was opened for subscription on June 24, 2024 and closed on June 26. The issue was subscribed more than 250 times. 64.32 lakh fresh shares were sold in the IPO. The funds raised from the IPO will be used for working capital requirements, capital expenditure, general corporate purposes besides acquisition of companies.
Indication of 225% listing was coming from gray market.
Before listing, the company’s shares were trading at a premium of Rs 225 in the unlisted market. Shivalik Power Control’s gray market premium (GMP) indicated a bumper listing at around Rs 325, 225% above the issue price.
Company manufactures LT and HT electric panels
Shivalik Power Controls manufactures LT and HT electric panels. The company has an operating history of 20 years. It is a technology driven company with a strong focus on quality, design and product development.
Shivalik Power Controls manufactures LT and HT electric panels
The company exports to countries like Mongolia, Nepal
The company exports its products to countries like Mongolia, Nepal, Thailand, Sri Lanka, Nigeria, Kenya, Bangladesh, Sudan, Uganda, South Africa, Afghanistan and Algeria.
Medium and small businesses bring IPO in SME category
Medium and small sized businesses bring IPO in this category, which are smaller than small cap companies. In this category, only those companies can list their IPO, whose turnover is less than Rs 100 crore. The price of one lot of SME IPO is at least Rs 1 lakh or more. These IPOs are listed on NSE SME and BSE SME exchanges.
