IPO Details
RHP/DRHPIssue Date
17 Jun - 19 Jun'25
Investment/lot
₹ 128000
Price Range
125 - 128
Lot Size
1000
IPO Size
₹ 42.93 - ₹ 43.96 Cr
Schedule of Eppeltone Engineers IPO
Start date
17/06/2025
End date
19/06/2025
Allotment of bids
20/06/2025
Refund Initiation
23/06/2025
Listing on exchange
24/06/2025
About Eppeltone Engineers IPO
The IPO of Eppeltone Engineers Ltd comprises a fresh issue of up to 34,34,000 equity shares. There’s no offer for sale in this IPO, which is a 100% book-built issue. The lot size of the IPO is 1000. The price band of the IPO is ₹125-₹128.
The listing date of the IPO is June 24, 2025. The allotment date is June 20, 2025. The initiation of refunds will take place on June 23, 2025. The credit of shares to the demat account will take place on June 23, 2025.
Objectives of Eppeltone Engineers IPO
- Working capital requirements of the company
- Funding capital expenditure towards installation of additional machinery at its factory
- General corporate purposes
- Issue expenses
Eppeltone Engineers IPO Valuation
Eppeltone Engineers IPO Share Offer and Subscription Details
| Investor | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net issue |
Non-institutional Bidders | Not less than 15% of the net issue |
Retail Individual Bidders | Not less than 35% of the net issue |
Industry Outlook
India has been experiencing a significant and steady increase in the demand for power and electricity, driven by its rapidly growing population, urbanisation, and industrialisation. With these factors in play, the projected electrical energy requirements are expected to surge from 1,626 billion units (BU) in FY 2023 to 1,907 BU in FY 2027 and further to 2,473 BU in FY 2032.
Also, smart meters (with respect to the electricity distribution sector) are part of the Advanced Metering Infrastructure (AMI) that defines the model electricity grid. So far tenders for only 15% of 250 million meters to be replaced have been awarded while less than 3% of the total meters has been replaced / upgraded. Hence there is a lot of ground to cover if the target of replacing 250 million conventional meters with smart meters by FY 2026 has to be met.
Company Information
Eppeltone Engineers Ltd is engaged in the business of manufacturing electronic energy meters including smart meters and various power conditioning devices like high grade chargers, UPS systems, etc., to consumers from institutions, industries and electricity distribution utilities.
The company began its operations in the year 1977 and now operates a single manufacturing plant focused on producing quality and high-performance products. Over the years, it has streamlined its operations to ensure that its emphasis remains on quality and excellence.
Eppeltone Engineers IPO Strengths
Strong and Unique Product Technology
By leveraging its core technologies and unique ideas, the company continues to provide new value to society. In 1999, Eppeltone Engineers broadened its business operations and established manufacturing facilities to produce energy meters in response to the government of India’s push for significant infrastructure projects.
The company has 36,000 sq.ft. (28000sq. ft.+8000sq ft) manufacturing plant in Greater Noida, Uttar Pradesh with advanced technology & machinery and a highly skilled and experienced team. It also has a NABL approved R&D Testing laboratory, with a focus on pioneering futuristic and innovative technologies.
Consistency in Quality and Service Standards
The company follows utmost quality standards in its areas of operation so that its products meet the required Quality standards. It helps in maintaining a cordial relationship with its customers. It believes that ensuring global standard products will attract domestic and international customers to the company.
Risks of Eppeltone Engineers IPO
- Significant Portion of Revenues from Government Tenders
Eppeltone Engineers Ltd generates a significant portion of revenue from the contracts through government tenders. In the past, the company has done various projects which are secured by it through government tenders process. Its inability to secure them or if it loses any existing contract, or the unavailability of these tenders, in the future may adversely affect its business operations and financial conditions.
- No Long-term Contracts with Suppliers
The company generally does not enter into agreements with its suppliers and transact with them on an order-by-order basis, and it cannot assure that it will continue to enjoy undisrupted relationships with its suppliers in the future. It cannot assure you that it will be able to procure such specific raw materials in a timely manner or at commercially acceptable terms, or at all, resulting in delays in production and delivery of its products.
- Geographic Concentration
Though the company supplies its products on a PAN India basis across all the states in India. However, a significant portion of its revenue is concentrated in some states across India. Any factors relating to political and geographical changes, growing competition and any change in the demand for its service by customers of these states may adversely affect its ability to retain them.
All Financial Information about Eppeltone Engineers
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Company Name | Total Income (in ₹crores) | EPS in ₹ | Return on Net Worth (in %) | NAV Per Share (in ₹) |
|---|---|---|---|---|
Eppeltone Engineers Ltd | 80.0418 | 8.57 | 40.00 | 48.14 |
Akanksha Power and Infrastructure Ltd | 53.2566 | 1.82 | 5.90 | 24.35 |
Rishabh Instruments Ltd | 689.7460 | 10.69 | 11.00 | 146.32 |
Genus Power Infrastructures Ltd | 1200.5825 | 3.59 | 5.60 | 35.49 |
Anchor Investor Bidding Date
Anchor portion opens on June 16, 2025.
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Skyline Financial Services Private Ltd
- Book Running Lead Manager: Expert Global Consultants Private Ltd
Business Model
Eppeltone Engineers Ltd engaged in the business of design, manufacturing and supply of Static Watt Hour Meters, Smart Meters, Water Meters, BPL Kits, UPS Systems, LED based luminaries, battery management system, battery chargers and battery packs.
It’s also into the development of software applications, 4.5KW underslung constant voltage, regulated cum emergency battery charger, short neutral section assembly (phase break), lightweight section insulator assembly, modular cantilever system, boxes and enclosures and all types of auto tensioning devices.
Company Growth Trajectory
The revenue from operations of Eppeltone Engineers Ltd grew from ₹72.6447 crores in FY 23 to ₹124.3355 crores in FY 25. Its EBITDA margin grew from 4.01% in FY 23 to 14.30% in FY 25, while PAT margin grew from 1.49% in FY 23 to 9.03% in FY 25. Unique product technology, experienced promoters, and a well-trained employee base have aided in the company's growth.
Market Position
Founded in 1977, Eppeltone Engineers Ltd is an ISO 9001, 140001 & 27001 certified organisation, Eppeltone Engineers Ltd provides products and services to government entities, institutional, non-institutional, electricity distribution utilities, AMISP and turnkey contractors. It supplies its products on a PAN India basis across all the states in India.
Eppeltone Engineers Profit and Loss
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Total Revenue (in ₹crores) | 125.7388 | 80.0418 | 72.9909 |
Profit Before Tax (in ₹crores) | 15.3705 | 11.7515 | 1.5021 |
Profit After Tax (in ₹crores) | 11.2320 | 8.1586 | 1.0860 |
EBITDA (in ₹crores) | 17.7842 | 13.0669 | 2.9144 |
EPS in ₹ | 11.98 | 10.19 | 1.36 |
Eppeltone Engineers Balance Sheet
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Profit Before Tax (in ₹crores) | 15.3705 | 11.7515 | 1.5021 |
Net Cash Inflow from Operating Activities (in ₹crores) | (5.9955) | 4.6540 | 0.3531 |
Net Cash Used in Investing Activities (in ₹crores) | (8.2663) | (4.6234) | (1.2537) |
Net Cash Used in Financing Activities (in ₹crores) | 13.3260 | 4.4223 | 0.9458 |
Cash & Cash Equivalents - Closing Balance (in ₹crores) | 3.6574 | 4.5932 | 0.1403 |
How to Apply for the Eppeltone Engineers Ltd IPO?
1. Visit the Registrar’s Website
- Visit the official website of Skyline Financial Services Pvt Ltd
- Click on ‘Public Issue’ from ‘Investors’ dropdown
- Choose ‘Company Name’
- Enter DPID/Client ID or Application Number or PAN Number
- Click on ‘Search’ to know the status
2. Check on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO bid verification module. You can use it to check the status of Eppeltone Engineers Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for the Eppeltone Engineers Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Eppeltone Engineers IPO FAQs
What is the minimum lot size required for Eppeltone Engineers IPO?
The minimum lot size is 1000 shares and the investment required is ₹128000.
What is the price band of the Eppeltone Engineers IPO?
The price band of Eppeltone Engineers IPO is ₹125 to ₹128.
Where can I read more about Eppeltone Engineers business?
You can read more about Eppeltone Engineers and its IPO from the company’s red herring prospectus (RHP) here.
What is the Eppeltone Engineers Ltd IPO?
The Eppeltone Engineers Ltd IPO comprises a fresh issue of up to 34,34,000 equity shares.
When will the IPO of Eppeltone Engineers Ltd go live?
The IPO will open on June 17, 2025 and will close on June 19, 2025.
From where can I get more information about the IPO of Eppeltone Engineers Ltd?
To get more information about the IPO of Eppeltone Engineers Ltd, click on the company’s red herring prospectus here.
