About Company’s Business:
Established in 1994, the company, headquartered in India, specializes in power management solutions with two distinct business verticals. In the Critical Power Business, they design, manufacture, and service DC Power Systems and Li-ion energy storage solutions for energy management at telecommunications sites and enterprises globally. The Electric Vehicle Charger (EV Charger) Business offers innovative smart charging systems for residential, business, and public use in India, commencing commercial sales in the Financial Year ending March 31, 2019. Pioneers in the Indian EV Charger manufacturing segment, as of March 31, 2023, the company holds a 60% and 25% market share in residential and public charging segments, respectively (Source: CRISIL Report). In the Critical Power Business, they possess a 16% market share in the DC Power Systems market and are recognized for Li-ion Batteries in the telecommunications sector, with a 10% market share as of March 31, 2023 (Source: CRISIL Report). Product categories under the Critical Power Business include indoor power systems, outdoor power systems, hybrid power systems, and Li-ion Batteries. Under the EV Charger Business, products include AC chargers and DC fast chargers. The company also provides a comprehensive range of services, including installation, commissioning, maintenance, operations, spare parts supply, and repair and return.
About the Industry:
The global telecommunication power market is experiencing growth due to the increasing demand for mobile data and voice services, coupled with the widespread adoption of 4G and 5G networks. Reliable and uninterrupted power supply for telecommunication towers is a crucial factor. In India, the market size for telecommunication DC power systems, including hybrid systems, is estimated at approximately â‚ą15 billion for the Financial Year 2023. The industry is expected to be primarily driven by 75% demand for upgrades and replacements, with the remaining 25% attributed to new tower additions. The energy storage solutions market for telecommunications is valued at â‚ą19.5 billion in Financial Year 2023, while the Li-ion battery energy storage systems market in data centers is valued at â‚ą3.2 billion. According to CRISIL MI&A, the current EV charging market in India is estimated to be valued at approximately â‚ą8.5 billion as of Financial Year 2023.
Key Financial Information (â‚ą in million):
| Particulars | As of Sep 30, 2023 | As of Sep 30, 2022 | As of Mar 31, 2023 | As of Mar 31, 2022 | As of Mar 31, 2021 |
|---|---|---|---|---|---|
| Share capital | 923.96 | 72.30 | 72.30 | 72.30 | 72.30 |
| Net worth | 3,114.03 | 2,043.00 | 2,319.99 | 2,215.72 | 2,134.42 |
| Revenue from operations | 4,550.42 | 2,159.49 | 7,079.30 | 8,428.05 | 5,129.05 |
| Profit/(Loss) for the years/periods From Operations | 274.63 | (67.75) | 310.31 | 303.95 | 126.76 |
| Profit after tax | 274.63 | (275.51) | 63.72 | 51.36 | 34.50 |
| Earnings per share for continuing -Basic | 2.98 | (0.74) | 3.38 | 3.31 | 1.38 |
| Earnings per share for continuing operations-Diluted | 2.98 | (0.74) | 3.38 | 3.31 | 1.38 |
| Earnings per share from continuing and discontinued operations-Basic | 2.98 | (3.00) | 0.69 | 0.56 | 0.38 |
| Earnings per share for continuing and discontinued operations-Diluted | 2.98 | (3.00) | 0.69 | 0.56 | 0.38 |
| Net asset value per Equity Share (in â‚ą) | 33.70 | 22.22 | 25.24 | 24.10 | 23.22 |
| Total borrowings | 728.37 | 1,161.29 | 1,179.15 | 1,076.69 | 1,017.63 |
Objective of the Issue:
- Part-financing the cost towards setting up of production/assembly lines at the planned manufacturing facility in Telangana.
- Repayment/pre-payment, in part or full, of certain borrowings of our Company
- Part-funding incremental working capital requirements
- Investment in R&D and product development
- General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Tuesday, February 27, 2024 |
| Close Date | Thursday, February 29, 2024 |
| Issue Size | â‚ą429.00 Crores |
| Price | â‚ą135 to â‚ą142 per share |
| Lot Size | 100 Shares |
| Basis of Allotment | Friday, March 1, 2024 |
| Initiation of Refunds | Monday, March 4, 2024 |
| Credit of Shares to Demat | Monday, March 4, 2024 |
| Listing Date | Tuesday, March 5, 2024 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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