Shivalic Power Control Jumps 211% on NSE SME Debut

Shivalic Power Control's NSE SME debut on July 1 saw shares listing at Rs 311, a 211% premium over the Rs 100 issue price. The IPO funds will support working capital, capital expenditure, acquisitions, and general corporate needs.
Shivalic Power Control Jumps 211% on NSE SME Debut

Shivalic Power Control made a spectacular debut on the NSE SME platform on July 1. Shares listed at Rs 311, a 211% premium over the Rs 100 issue price. The IPO proceeds will fund working capital, capex, acquisitions, and general corporate purposes.

The IPO, open from June 24-26, saw overwhelming investor response with 257.24 times overall subscription. The Rs 95-100 per share offering was oversubscribed across categories: Retail (230.14x), QIB (170.32x), and NII (436.37x). The grey market premium suggested a strong listing around Rs 325.

Shivalic Power Control Limited, an ISO-certified company with two decades of experience, produces premium electric panels for diverse industries. Authorized by major brands, their expert team specializes in advanced Techno Modular Design panels. They source from industry leaders and serve traditional sectors like FMCG and Automobile. Recently, they’ve expanded into the data center industry, leveraging their expertise and quality-focused approach.

Shivalic Power Control’s IPO aims to fund working capital (₹30.03 crore), capital expenditure for new machinery (₹5.82 crore) and assembly line construction (₹1.82 crore), acquisitions (₹5.75 crore), and general corporate purposes, enhancing operational capacity and facilitating growth.

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