Eppeltone Engineers Limited, a manufacturer specializing in electronic energy meters including smart meters, and power conditioning devices such as high-grade chargers and UPS systems, caters to a diverse clientele ranging from institutional customers to industries and electricity distribution utilities. The company has built its reputation over years through quality products serving the growing energy sector.

The company has announced a Book Built Issue IPO amounting to ₹43.95 Crores, entirely through a Fresh Issue comprising 34.34 Lakh shares. The IPO opens on June 17, 2025, and will close on June 19, 2025. Post subscription, the allotment is expected to be finalized on June 20, 2025, with shares listing on the NSE SME platform tentatively on June 24, 2025.

The IPO price band is fixed between ₹125 and ₹128 per equity share. At the upper price band of ₹128, Eppeltone Engineers will have a market capitalization of approximately ₹165.87 Crores. Investors need to subscribe for a minimum of 1,000 shares per lot, requiring a minimum retail investment of ₹1,28,000. High Net-Worth Individuals (HNIs) must invest a minimum of two lots (2,000 shares), totaling ₹2,56,000.

Expert Global Consultants Private Limited is the book running lead manager for the IPO, while Skyline Financial Services Private Limited serves as the registrar. The market maker for the issue is Prabhat Financial Services Limited.

IPO Grey Market Premium (GMP)

The Grey Market Premium currently stands at ₹20, indicating a potential listing gain of 15.63% over the upper price band. However, it is important to note that GMP trading is unofficial and may not reflect actual market conditions. The GMP is shared purely for informational purposes and should not be the sole factor for investment decisions.

Subscription Status

As of 11:00 AM on June 17, 2025, the IPO has been subscribed 1.24 times on the first day, indicating strong investor interest. Investors can monitor live subscription updates on the NSE website under the IPO section.

Anchor Investors

Eppeltone Engineers raised ₹12.51 Crores from anchor investors who were allocated 9,78,000 equity shares at the upper band price of ₹128. Anchor investors’ participation demonstrates confidence in the company and the IPO pricing.

Use of Proceeds

The net proceeds of the IPO will be deployed towards:

• ₹30 Crores for working capital requirements to support day-to-day operations and business growth.

• ₹5 Crores for capital expenditure, specifically for installation of additional machinery to expand manufacturing capacity.

• The balance will be used for general corporate purposes to ensure flexibility in business operations.

Financial Performance Highlights

The company’s revenues have shown consistent growth over the past four fiscal years:

• FY2022: ₹8,279.50 Lakh

• FY2023: ₹7,299.09 Lakh

• FY2024: ₹8,004.18 Lakh

• FY2025 (up to March 31): ₹12,573.88 Lakh

EBITDA has increased substantially from ₹176.33 Lakh in FY2022 to ₹1,918.75 Lakh in FY2025, while Profit After Tax surged from ₹23.62 Lakh in FY2022 to ₹1,123.20 Lakh in FY2025, indicating improving operational efficiency and profitability.

Valuation Metrics

• Pre-issue EPS (FY24): ₹11.98

• Post-issue EPS (FY24): ₹8.67

• Pre-issue P/E: 10.68x

• Post-issue P/E: 14.77x

• Industry P/E Ratio: 76.00x (significantly higher)

Return ratios for FY24 are healthy with ROCE at 23.37%, ROE at 28.00%, and RoNW at 28.08%, suggesting strong capital utilization and profitability.

Promoters and Management

The company is promoted by Rohit Chowdhary, Deven Chowdhary, and Reshu Chowdhary, who collectively bring over 20 years of experience in the electrical equipment industry. Their strategic leadership has played a key role in the company’s growth trajectory and expansion plans.

How to Check IPO Allotment Status

Investors can check their allotment status online from June 20, 2025, onward by:

• Visiting the registrar’s IPO allotment status webpage

• Selecting “Eppeltone Engineers Limited” from the IPO list

• Entering application number, PAN, or DP Client ID

• Submitting the information to view allotment results

Conclusion and Recommendation

Eppeltone Engineers Limited IPO offers investors a chance to participate in a steadily growing company within the energy metering and power conditioning industry. With robust financial growth, a reasonable price band, and a healthy Grey Market Premium indicating positive market sentiment, the IPO looks fairly priced. Investors comfortable with moderate risk and seeking listing gains may consider subscribing to this issue.

Disclaimer:
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

The Upcoming IPOs in this week and coming weeks are Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Globe Civil Projects, Sambhav Steel Tubes, Ellenbarrie Indutrial Gases, Kalpataru, HDB Financials, AJC Jewel, ArisInfra Solutions, Influx Healthtech, Mayasheel Ventures.

The Current active IPO are  Eppeltone Engineers, Oswal Pumps, Patil Automation, Samay Projects Services, Aten Papers.

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