Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The IPO allotment for Shivalic Power Control, a manufacturer of electric control panels, is anticipated to be finalized on Thursday, June 27, following the successful closure of its public offer. The IPO received significant interest, being subscribed 257 times by Wednesday's end.
Investors awaiting the allotment can verify their status on the Skyline Financial Services Pvt Ltd website or the NSE website by following simple instructions.
The public offer for Shivalic Power Control was available from June 24 to June 26. The IPO aimed to raise ₹64.32 crores through a fresh issue of 64.32 lakh shares, with a price range of ₹95 to ₹100 per share. The minimum purchase lot size was 1,200 shares.
According to exchange data, the IPO was oversubscribed 257 times, receiving applications for 109.77 crore shares valued at ₹10,997 crore against the 42.67 lakh shares available.
Qualified Institutional Buyers (QIBs)**: Subscribed 170.32 times, with 20.76 crore shares bid for against 12.19 lakh shares available
Non-Institutional Buyers**: Subscribed 436.37 times, with 39.90 crore shares bid for against 9.14 lakh shares.
Retail Investors**: Subscribed 230 times, with 49.10 crore shares bid for against 21.33 lakh shares.
Previously, Shivalic Power Control raised ₹18.29 crores from anchor investors by allotting 1,828,800 shares to seven funds at ₹100 per share.
According to the RHP, the proceeds from the IPO will be used for various purposes.
The company plans to allocate ₹30.02 crore for working capital needs. Additionally, ₹5.81 crore will be used to purchase new machinery, and ₹1.82 crore will go towards establishing a new assembly line. Shivalic Power Control has also set aside ₹5.75 crore to support growth through unspecified acquisitions.
Chat on WhatsApp
Request a call back
