Shivalic Power Control Ltd IPO Plans Unveiled

Shivalic Power Control Ltd IPO Plans Unveiled/Pixabay

VoM News Desk | April 22, 2024 | 06:16 PM IST | Breaking News | Follow on Google News

Shivalic Power Control Ltd IPO Plans Unveiled

Shivalic Power Control Ltd IPO Plans Unveiled

Shivalic Power Control Ltd is gearing up to launch its public issue, offering 64,32,000 Equity shares with a face value of ₹10 each. The company aims to raise funds for various operational and expansion purposes through its Initial Public Offering (IPO).

Objectives of the IPO

The IPO proceeds will primarily be utilized to meet the company’s working capital requirements, amounting to ₹30.03 crore. Additionally, funds will be allocated for capital expenditure, including the procurement of new machinery and the construction of a new assembly line. Shivalic Power Control Ltd also plans to pursue inorganic growth opportunities through undisclosed acquisitions and allocate funds for general corporate expenses.

Headquartered in Faridabad, Shivalic Power Control Ltd specializes in manufacturing a diverse range of electrical panels, catering to various industries. With an impressive client portfolio including Hewlett Packard, Dabur, and Jindal Steel & Power, the company has demonstrated strong performance in recent years.

Founded by Amit Kanwar Jindal, Shivalic Power Control Ltd is led by Amit Kanwar Jindal and Dr. Sapna Jindal as promoters. The company’s manufacturing facility in Faridabad boasts a capacity to produce 10,000 verticals annually, underscoring its robust production capabilities.

Corporate CapitalVentures Pvt Ltd has been appointed as the Book Running Lead Manager, while Skyline Financial Services Pvt Ltd will act as the registrar to the IPO, facilitating the smooth execution of the public offering process.

Source: Mint

VoM News Desk

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