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Evans Electric IPO is a fixed price issue of Rs 1.93 crores.
Evans Electric IPO bidding started from April 30, 2019 and ended on May 3, 2019. The allotment for Evans Electric IPO was finalized on Wednesday, May 8, 2019. The shares got listed on BSE SME on May 13, 2019.
Evans Electric IPO price is ₹52 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹104,000.
Hem Securities Limited is the book running lead manager of the Evans Electric IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Evans Electric IPO RHP for detailed information.
| IPO Date | April 30, 2019 to May 3, 2019 |
| Listing Date | May 13, 2019 |
| Face Value | ₹10 per share |
| Price | ₹52 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 372,000 shares (aggregating up to ₹1.93 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,000,000 |
| Share holding post issue | 1,372,000 |
| Market Maker portion | 20,000 shares |
Evans Electric IPO offers 372,000 shares. 176,000 (47.31%) to NII, 176,000 (47.31%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 20,000 (5.38%) |
| Other Shares Offered | 176,000 (47.31%) |
| Retail Shares Offered | 176,000 (47.31%) |
| Total Shares Offered | 372,000 (100%) |
Evans Electric IPO opens on April 30, 2019, and closes on May 3, 2019.
| IPO Open Date | Tuesday, April 30, 2019 |
| IPO Close Date | Friday, May 3, 2019 |
| Basis of Allotment | Wednesday, May 8, 2019 |
| Initiation of Refunds | Thursday, May 9, 2019 |
| Credit of Shares to Demat | Friday, May 10, 2019 |
| Listing Date | Monday, May 13, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 3, 2019 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹104,000 |
| Retail (Max) | 1 | 2000 | ₹104,000 |
| Lot Size Calculator | |||
Mr. Ivor Anthony Desouza is the promoter of the company.
| Share Holding Pre Issue | 80% |
| Share Holding Post Issue | 58.31% |
Incorporated in 1951, Mumbai-based Evans Electric Limited works in the area of re-designing, repairing, and re-winding of transformer, generator, and electric motor with in-house manufactured replacement components. Some of the products manufactured by the company for replacement purposes are insulation components, brush holders, coils, slip rings, insulators, retaining rings, allied specialized equipment & tools, wedges, stampings and packers. It has a factory unit covering 30,000 sq. ft area located at Palghar, Maharashtra providing repairing & rewinding services and manufacturing replacement components.
The company also provides contract based services for repairing of turbo rotors, low voltage 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 company also provides contract based services to foreign countries and has been successfully executed orders from Sri Lanka, Malaysia and Bangladesh.
It has a wide client base covering various sectors including railways, oil & gas refineries, cement, chemicals & fertilizers, shipping, steel plants, offshore gas & oil exploration, renewable energy, gas, diesel, nuclear, & thermal power generation.
The competitive strengths of the company are:
• Can handle complex machines of different design, size and capacity
• Skilled workforce
• Factory unit at a good location and in a large area
• Quality work at affordable pricing
| 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 | |
The Company intends to utilize the Issue Proceeds towards the following objects:
• To Meet Working Capital Requirements
• General Corporate purpose and
• To Meet the Issue Expenses
[Dilip Davda]
Company's financial performance shows inconsistency. Based on this performance, the issue is priced lucratively. However, considering the issue size and the post-issue equity, it will be a long wait for the migration to the main board. Cash surplus, risk savvy investors may consider investment for long term at their own risk.
Read detail review...The Evans Electric IPO is subscribed 1.59 times on May 3, 2019 6:50:00 PM. The public issue subscribed 0.56 times in the retail category, times in the QIB category, and 2.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.63 |
| Retail | 0.56 |
| Total | 1.59 |
| Listing Date | May 13, 2019 |
| BSE Script Code | 542668 |
| NSE Symbol | |
| ISIN | INE06TD01010 |
| Final Issue Price | ₹52 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹52.00 |
| ₹52.20 |
| ₹52.20 |
| ₹54.80 |
| ₹54.80 |
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
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Evans Electric IPO is a SME IPO of 372,000 equity shares of the face value of ₹10 aggregating up to ₹1.93 Crores. The issue is priced at ₹52 per share. The minimum order quantity is 2000 Shares.
The IPO opens on April 30, 2019, and closes on May 3, 2019.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The Evans Electric IPO opens on April 30, 2019 and closes on May 3, 2019.
Evans Electric IPO lot size is 2000 Shares, and the minimum amount required is ₹104,000.
You can apply in Evans Electric IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Evans Electric IPO will be done on Wednesday, May 8, 2019, and the allotted shares will be credited to your demat account by Friday, May 10, 2019. Check the Evans Electric IPO allotment status.
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