An IPO is being launched on the NSE SME platform, aiming to raise funds through a book-built issue. The offering includes up to 34.34 lakh equity shares of face value ₹10 each.
🏭 Company Overview
Established in 1977, the company operates in the power electronics and metering sector. It manufactures a wide range of products including:
- Static and smart energy meters
- Water meters
- SMPS (Switched-Mode Power Supply)
- UPS (Uninterruptible Power Supply)
- AVR (Automatic Voltage Regulators)
- MCBs, battery chargers, transducers
- LED luminaires
It owns a 36,000 sq. ft. manufacturing unit in Greater Noida equipped with SMT lines, plastic molding machines, and a NABL-accredited R&D laboratory.
Lot Size & Investment Details
| Appy as | Price Band | Lot Size | Share | Appy Upto |
| Retail (Min) | ₹125 – ₹128 | 1 lot | 1,000 shares | ₹1,28,000 |
| Retail (Max) | ₹125 – ₹128 | 1 lot | 1,000 shares | ₹1,28,000 (Retail limit) |
| S-HNI (Min) | ₹125 – ₹128 | 2 lot | 2,000 shares | ₹2,56,000 |
📊 Financial Highlights
| Financial Year | Revenue (₹ Cr) | EBITDA (₹ Cr) | Net Profit (₹ Cr) |
|---|
| FY 2023–24 | 80.04 | 8.43 |
🎯 Objects of the Issue
The IPO proceeds will be used for:
- Working Capital Requirements
- Capital Expenditure – Procurement and installation of new machinery
- General Corporate Purposes
📈 IPO Review & Recommendation
✅ Strengths
- Over four decades of industry presence
- In-house R&D and certified quality processes
- Diversified product range covering critical infrastructure needs
- Trusted supplier to multiple government utilities
⚠️ Risks
- Volatility typical to SME IPOs post-listing
- High dependency on public sector demand
- Execution risk in deploying raised capital efficiently
📊 Recommendation
A strong contender in the infrastructure and energy tech space, the IPO reflects a stable business model backed by certifications and a wide product range. It may suit medium to long-term investors seeking exposure to power and smart metering sectors, though attention should be given to post-listing liquidity and execution capability.
