Electro Force IPO

Electro Force India Limited

₹1,11,600 /1200 sharesMinimum Investment

Electro Force IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹93.00₹100.00₹7.00 (7.53%)

Electro Force IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
19 Dec ‘23 - 21 Dec ‘23₹1,11,6001,200₹93 - ₹93
Issue SizeIPO Doc
80.68Cr
RHP PDF

About Electro Force

Electro Force focuses on designing and producing electrical components and metal/plastic contact parts. Operating on a business-to-business (B2B) model, the company serves various industries with its products. Commencing operations in 2010 as Electro Force (India) Pvt Ltd., the company has been a supplier of precision metal electrical contact parts, connectors, and assemblies for electronics, lighting, switchgear, and allied industries in India. Situated in Vasai, Maharashtra, its manufacturing unit delivers end-to-end solutions under the B2B model. From design and manufacturing to quality testing, packaging, and logistics, Electro Force offers comprehensive services. The company also provides intermediate-stage products to its customers, with a primary focus on serving Indian manufacturers of electrical components. Specializing in precision sheet metal components, high-speed metal stamping, plastic injection moldings, insert and over-molding, sub-assemblies, and value-added services, Electro Force caters to diverse industries such as electronics and lighting.;
Parent Organisation
Electro Force India Limited
Founded
2010
Managing Director
Mr. Arvind Sharma

Strengths & Risks

  • The company has long-standing relationships with leading industry brands.
  • An in-house R&D setup enables the company to swiftly develop products and adapt to customer needs.
  • The company claims that its multi-technological capabilities and integrated offerings have allowed it to grow its business with existing customers.
  • The company aims to strengthen its position as the preferred contract manufacturer for top-tier brands by capitalizing on integrated processes and prompt delivery of high-quality products.
  • Electro Force is involved in various legal proceedings concerning the Company, Promoters, and Directors. Failing to successfully defend these cases may adversely affect the company's financial status, business operations, reputation, and ongoing results.
  • The company operates on a B2B model, selling electrical components and related products to select customers. Revenue from the top 5 customers accounted for 77.44%, 88.00%, and 83.53% in 2021, 2022, and 2023, and 94.07% during the period ending September 30, 2023. If these customers opt not to procure from Electro Force, it could significantly impact the company's business and operations.
  • Company’s Whole-time Director, Non-Executive Director and Chief Financial Officer have been unable to trace copies of certain documents pertaining to their educational qualifications and experience.
  • There have been several instances of delay in filing of GST returns by the company in the past
  • Electro Force lacks long-term agreements with customers for product purchases, exposing the company to uncertainties in demand. There is no guarantee that customers will continue buying products, which could affect the company's business and financial performance.
  • There have been certain instances of non-compliances in respect of Tax / ROC / Employee benefit related filing or payments
  • Negative cash flows in recent fiscal periods have been observed in certain activities, and sustained negative cash flow could potentially impede the company's growth and business prospects.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular93 - 93₹2 Lakh
High Networth Individual93 - 93₹2 - 5 Lakh
For Electro Force IPO, eligible investors can apply as Regular.
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