Electro Force (India) Ltd Share Price – NSE

Capital Goods - Electrical Equipment, Small Cap

Electro Force (India) will hold a meeting of the Board of Directors of the Company on 30 May 2024.

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The scrip was listed at Rs 100, a premium of 7.53% compared with the initial public offer (IPO) price. The stock was currently down 4% over its listing price.The IPO comprised of fresh issue of 60,00,000 shares and an offer for sale (OFS) of 26,74,800 shares by existing shareholders. The promoter and promoter shareholding diluted to 62.93% from 100% pre-IPO.

The company intends to utilize the net proceeds for funding additional working capital requirements of the company, pursuing inorganic growth and general corporate purposes.

Electro Force (India) engaged in designing, manufacturing, and supply of electrical components and allied products to its customers under business-to-business (B2B) model. The company also provides quality testing, packaging, assembly, secondary operations and logistics services. As on 31 October 2023, the company has 31 employees.

The company recorded revenue from operations of Rs 23.10 crore and net profit of Rs 7.11 crore for the period as on 30 September 2023.

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