Shares of Electro Force India Ltd posted 7 percent listing gains on NSE SME Emerge on December 27 after its public issue was subscribed over 4.3 times last week.
The stock opened at Rs 100 a share against an issue price of Rs 93. At 10.10am, the stock was trading at Rs 100.80 on the BSE, up 8 percent from the IPO rate.
The Rs 80.68-crore public issue opened for subscription on December 19 and closed on December 21.
The firm reported a revenue of Rs 30.29 crore in FY23 against Rs 34.44 crore a year ago. Net profit for the year stood at Rs 7.80 crore against Rs 8.64 crore a year ago.
Established in 2010, Electro Force (India) Ltd specialises in crafting electrical components and metal/plastic contact parts for electronics, lighting, switchgear, and related industries. They design and produce stamping and plastic components using methods like metal stamping, injection molding, and insert molding.
Their products cater to various sectors including electrical MCBs, manual transfer switches, MCCBs & RCBs, brushless DC motors for medical devices/aerospace/defense and automation, motor starters, electrical control gears, and switches.
The company offers comprehensive services such as quality testing, packaging, assembly, secondary operations, and logistics. Operating from a leased manufacturing facility spanning over 10,000 square feet in Vasai, Maharashtra.
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