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What was the last grey market premium of H. M. Electro Mech IPO?

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Subscription status of H. M. Electro Mech IPO

H. M. Electro Mech IPO (Day 1)

Price Rs. ? Lot ? shares, Rs. ?Crore

QIB NII x RII x Total x Applications
         
Amount wise bids recd. Rs. ? Crore
Note: 

What is the business of H.M. Electro Mech?

The company specializes in turnkey projects, offering comprehensive services for the supply, installation, testing, and commissioning of pumping machinery, along with operation and maintenance support. Initially, its core business focused on infrastructure projects related to water supply schemes, which involved the installation of pumping machinery and allied accessories for water and wastewater systems. Over time, it has diversified into electrification projects, working with Indian Railways, nationalized banks, and municipal corporations.

Recently, the company has expanded its capabilities into the EPC (Engineering, Procurement, and Construction) sector. These projects involve laying cross-country pipelines and undertaking civil works related to water supply systems, including the construction of water treatment plants (WTP), pump houses, diesel generating sets, panel rooms, instrumentation, and PLC-SCADA systems. For these EPC projects, it collaborates and forms joint ventures with other companies to manage the civil work components.

In addition to its project work, the company is also involved in the sale of various products, including pumps, pipes, transformers, motors, and other electronic accessories.

The company holds ISO 9001:2015 certification and is recognized as a Class ‘A’ approved electrical contractor, the highest category for electrical contracts, with unlimited bidding capacity (subject to fulfilling tender conditions) by the Irrigation Division of the Government of Gujarat. It is also an approved electrical contractor with the State Government of Rajasthan under the Indira Gandhi Nahar Pariyojana in Bikaner. Additionally, it is authorized by the Gujarat Energy and Petrochemicals Department to carry out electrical installation works within the state of Gujarat.

Despite being a relatively young company, it has built a strong reputation in the industry through effective management and timely project execution. Since 2018, it has successfully completed 12 projects worth a total of Rs. 11629.86 lakhs. Currently, it is engaged in 30 ongoing projects valued at Rs. 38541.23 lakhs, reflecting its growth and commitment to excellence.

Get more information about the company @ https://www.hmelectromech.com/

H.M. Electro Mech IPO Details

IPO opens on  24 January 2025
IPO closes on  28 January 2025
Issue Type Book Built Issue IPO
Issue Size 3699200 Shares /
Rs 27.74 Crore
* Fresh Issue 3699200 Shares /
Rs 27.74 Crore
* Offer for Sale – – shares /
Rs. – crore
Market Maker Portion – Shares
Net offer to Public 3699200 Shares/
Rs27.74 Crore
Face Value per share Rs. 10
Price Band Rs. 71-75
Employee discount  Rs. 0 per share
Retail Lot Size  1600 Shares
Listing will at  BSE SME

Shares offered in IPO

  Shares Rs. (Crore)
QIB (50%) 1849600 13.87
HNI (15%)   554880   4.16
RII  (35%) 1294720   9.71
Total Shares  3699200 27.74
Retail portion will be
oversubscribed by 
809
Forms
How much Shares to Apply in this IPO?
Min Retail Application 1600 Shares Rs.12000
Min HNI Application  3200 Shares Rs. 24000

Who are the Promoters of H.M. Electro Mech?

The promoters of the company are Dipak Padmakant Pandya, Mahendra Ramabhai Patel, Varsha Mahendra Patel and Mita Dipak Pandya.

What are the Objects of H.M. Electro Mech IPO?

The Offer comprises of fresh issue of shares.

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

  1. To Meet Working Capital Requirements
  2. General Corporate Purposes

Tentative timetable

IPO opens on 24 January 2024
IPO Closes on 28 January 2025
IPO Allotment on  29 January 2025
Refund Initiation  30 January 2025
Credit of Shares 30 January 2025
Listing on 31 January 2025
Registered Office of the Company
H.M. Electro Mech Limited
305, Ashram Avenue, B/H
Kochrab Ashram, Paldi
Ahmedabad- 380006
Who is the Lead Manager of this IPO?
Beeline Capital Advisors Pvt Ltd 

Who is the Registrar to IPO?
Cameo Corporate Services Limited

H.M. Electro Mech IPO GMP grey market premium, review, Subscription, allotment, listing estimate

H.M. Electro Mech IPO Financial & Analytical Ratios

Year Total
Income
Net
Profit
EPS RoNW
  Rs.in Crore Rs.in Crore Rs. %
2021-22 62.03 2.58   14.28
2022-23 101.67 6.01 6.01 24.96
2023-24 9M  75.35 5.28 5.28 17.99
Book Value of the
Share on 31.012.2023
  29.36    
BV of the Share at
cap price after IPO
Rs.      
Offer Price/upper band Rs. 75    

Key Performance
indicators

Price/EPS of 23-24 25.49
Price/BV Ratio  
Debt/Equity Ratio 0.97


How H.M. Electro Mech IPO
compares with the Peers?

As per RHP FV PE RoNW
    Ratio Ratio
H M Electro Mech 10   24.96
HEC Infra 10 38.90 2.62
       
       
       
       
       

# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

H.M. Electro Mech IPO Review by Paresh Gordhandas, CA & Research Analyst.

The company specializes in turnkey projects, offering comprehensive services for the supply, installation, testing, and commissioning of pumping machinery, along with operation and maintenance support.

The size of the IPO Rs. 27.74 crore is not very large, and it can get oversubscribed without any problem. Retail portion can get one time subscribed with just 809 applications.

The shares are offered at reasonable valuation and has enough room for listing gains.

The lead manager: Beeline Capital Advisors ltd has impressive track record of positive listings and more over most of the companies lead managed by them are still in positive price range.

+ from fundamental angle: May Apply
+ from grey market angle: 

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