IPO : Electro Force (India) Limited
Electro Force (India) Limited IPO
| SYMBOL | EFORCE |
| ISSUE TYPE | Fixed Price Issue IPO |
| ISSUE OPENS ON | Tuesday, December 19, 2023 |
| ISSUE CLOSES ON | Thursday, December 21, 2023 |
| ISSUE PRICE | ₹93 per share |
| ISSUE SIZE | Up to Rs.80.68 Crores |
| FACE VALUE | Rs.10 per share |
Electro Force India IPO is a fixed price issue of Rs 80.68 crores. The issue is a combination of fresh issue of 60 lakh shares aggregating to Rs 55.80 crores and offer for sale of 26.75 lakh shares aggregating to Rs 24.88 crores.
Electro Force India IPO bidding opened for subscription on December 19, 2023 and will close on December 21, 2023. The allotment for the Electro Force India IPO is expected to be finalized on Friday, December 22, 2023. Electro Force India IPO will list on NSE SME with tentative listing date fixed as Wednesday, December 27, 2023.
| MINIMUM BID | 1200 shares |
| MINIMUM AMOUNT | Rs.111,600 |
| MAXIMUM BID | 1200 shares |
| MAXIMUM AMOUNT | Rs.111,600 |
| PROMOTER HOLDING | 62.93% (Post-issue) |
| LISTING DATE | Wednesday, December 27, 2023 |
| LISTING AT | NSE,SME |
Electro Force India IPO price is ₹93 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹111,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹223,200.
Objects of the Issue (Electro Force India IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding additional working capital requirements of the company
- Pursuing Inorganic Growth
- General corporate purposes
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