latest IPO in India: Eppeltone Engineers Ltd. – 5️⃣ Reasons to Watch This Power-Tech SME IPO
The latest IPO in India, Eppeltone Engineers Ltd., is generating significant buzz. Here’s an expert deep dive into all the IPO details, serving investors eyeing SME tech plays.
Company Overview
Founded in 1977, Eppeltone Engineers evolved from SMPS maker to a manufacturer of smart meters, AVRs, UPS systems, battery chargers, and more for government utilities and B2B segments. Its primary manufacturing hub is in Greater Noida, with R&D and quality units in Noida and Okhla.
IPO Timeline
| Event | Date |
|---|---|
| IPO opens | June 17, 2025 |
| IPO closes | June 19, 2025 |
| Allotment finalised | June 20, 2025 |
| Refunds & share credit | June 23, 2025 |
| Listing on NSE–SME | June 24, 2025 |
Price Band
The IPO is pegged at ₹125 – ₹128 per share, with the lot size set at 1,000 shares. That means a minimum retail investment of ₹1,25,000 and ₹2,56,000 for high-net-worth investors (2 lots).
Lot Size
Mandatory bidding in multiples of 1,000 shares—equating to ₹1.25 L minimum investment.
Key Dates
- June 17–19, 2025: Subscription window
- June 20, 2025: Allotment finalized
- June 23, 2025: Refunds & credit
- June 24, 2025: Listing day
Financials
FY2025 vs FY2024 Highlights:
- Revenue: ₹125.74 Cr (up from ₹80.04 Cr)
- PAT: ₹11.23 Cr (up from ₹8.16 Cr)
- Consistent growth in net worth, liabilities, and RoE (~28%)
Strengths
- Diversified product suite: From smart meters to battery systems
- Experienced leadership, rooted since 1977
- Strong financial trajectory with a doubling of revenues and rising profit margin
Risks
- Customer concentration, especially in government tenders
- Raw material dependency without long-term contracts
- Geographic limitations in scalability
- Some legal proceedings and past negative cash-flow patterns
IPO Anchor Investors Details
| Category | Shares | % of Issue |
|---|---|---|
| Anchor Investors | 9,78,000 | 28.48% |
IPO Promoter Holding Details
| Holding Type | Pre-IPO | Post-IPO |
|---|---|---|
| Promoter group | ~83.69% | ~61.51% |
IPO Grey Market Premium (GMP)
| Date | GMP |
|---|---|
| June 13, 2025 (before open) | ₹39.8 premium (~31% above cap) |
Final Thoughts
Eppeltone Engineers’ SME IPO stands out as a growth-oriented, heritage industrial player with strong revenue leaps and promising margins. The high GMP signals robust market appetite, yet investors should monitor demand during subscription and assess tender dependency along with raw material risk.