Eppeltone Engineers is a prominent manufacturer specializing in electronic energy meters, including smart meters and various power conditioning devices such as high-grade chargers and UPS systems. Catering to customers ranging from institutions, industries, to electricity distribution utilities, the company has built a strong presence in its sector.

The Eppeltone Engineers IPO is a Book Built Issue aggregating ₹ 43.95 Crores, comprised entirely of a fresh issue of 34.34 lakh shares. The subscription window opens on June 17, 2025, and closes on June 19, 2025. The allotment is expected to be finalized by June 20, 2025, and the shares are scheduled to be listed on the NSE SME segment around June 24, 2025.

The IPO price band is set between ₹ 125 and ₹ 128 per equity share, valuing the company at approximately ₹ 165.87 Crores at the upper band. The minimum lot size is 1,000 shares, requiring retail investors to invest at least ₹ 1,28,000. High-Net-Worth Individuals (HNIs) must apply for a minimum of two lots, amounting to ₹ 2,56,000.

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

The Grey Market Premium (GMP) currently stands at ₹ 20, reflecting positive market sentiment with an expected listing price of ₹ 148, indicating potential listing gains of approximately 15.63%. However, investors are cautioned that GMP reflects unorganized market demand and should be viewed for educational purposes only.

As of June 18, 2025, 11:30 AM, the IPO has been subscribed 15.92 times, showcasing robust investor interest on the second day of subscription.

Anchor Investors

The IPO raised ₹ 12.51 Crores from anchor investors who subscribed at the upper price band of ₹ 128 per share, with 9,78,000 equity shares allotted from the Qualified Institutional Buyers (QIBs) portion.

Financial Performance

Eppeltone Engineers has demonstrated steady growth over recent years:

• Revenue from operations grew from ₹ 8,279.50 Lakh in FY22 to ₹ 12,573.88 Lakh in FY25.

• EBITDA expanded from ₹ 176.33 Lakh in FY22 to ₹ 1,918.75 Lakh in FY25.

• Profit After Tax surged from ₹ 23.62 Lakh in FY22 to ₹ 1,123.20 Lakh in FY25.

Key financial ratios reflect a fairly valued IPO:

• Pre-issue EPS: ₹ 11.98 and Post-issue EPS: ₹ 8.67 for FY24.

• Pre-issue P/E: 10.68x and Post-issue P/E: 14.77x versus industry P/E of 76.00x.

• ROCE: 23.37%, ROE: 28.00%, and RoNW: 28.08% for FY24.

Use of Proceeds

Eppeltone Engineers plans to utilize the IPO proceeds mainly for:

• ₹ 3,000 Lakhs towards working capital.

• ₹ 500 Lakhs for capital expenditure to install additional machinery.

• General corporate purposes.

IPO Allotment & Subscription Details

The allotment will be finalized on June 20, 2025. Investors can check their allotment status on the registrar’s website by selecting the IPO name and entering the application number, PAN, or DP Client ID.

Investment Recommendation

Considering the company’s solid financial growth, attractive valuation metrics, and positive GMP trend, the IPO may offer potential listing gains. However, given the risk profile and sector volatility, risk-tolerant investors might consider subscribing.

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.

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