• Total Issue Size: It IPO has fixed a fresh issue size of 28,92,000 equity shares of Rs. 10.

• Price Range: The price band is fixed between Rs. 235 to Rs. 250 per equity share.
• Lot size: It offers a lot size of 600 equity shares.
• Issue Type: It is a book built issue.
• Subscription date: The IPO subscription begins from 23rd January, 2025 and ends on 27th January, 2025.
• Listing date: The IPO will be listed on 30th Jan 2025.
• Stock Exchange: The IPO is going to be listed on SME platform of Bombay Stock Exchange.

The Company with the help of this IPO proposes to utilize the net proceeds for purchasing new machinery and equipment, meet working capital and make strategic business developments.

The table below (in lakhs) shows the financial performance of the company over the last three fiscal years.(for the year ended September 30, 2024)

The Lithium-ion battery market especially in the EV department is expected to rapidly grow in India at a CAGR of 50% from 20 GWh in 2022 to 220 GWh by 2030. India is presently ranked third in the renewable energy country and is on the path of ‘Panchamrit’ a five pronged strategy to reach net zero emission by 2070. 

The Lithium ion batteries are not only used for EV automobiles but is also equally incorporated in portable devices and other electronic products like mobile phones, laptops, computers etc. More than 47% of the lithium ion battery market is manufactured in the Asia pacific region and the USA is the country that has a high demand for these batteries.

The Indian government has also incorporated necessary steps like collaborating with USA for Mineral Security Partnership(MSP), implementing deductions in customs for the lithium ion batteries, initiated Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme for more e-transportation and has tied up with many big energy companies like Reliance New Energy Solar, Ola Electric, and Rajesh Exports for manufacturing and exporting of ACC (Advanced Chemistry Cell) batteries.

In 2023, the global lithium-ion battery market was estimated at USD 54.4 billion and is projected to grow at CAGR of 20.3% by 2030. 

India's global manufacturing revenues is also expected to cross more than US$ 500 billion by 2030. and thus, the industry the company is vested in has potential growth for the long term.

• The company is in the business that focuses on manufacturing of sustainable energy and the government of India is on mission to make India a net zero carbon emission country by 2070.

• The company has shown consistent track record of its financial performance for the last three years with its income increasing from Rs. 12,170 lakhs in FY 2022 to Rs. 13,270 lakhs for FY 2024.
• The company has high end manufacturing facilities in Noida and Pune with the best machinery and technologies that houses Cell Grading Capacity of 168 MWH per annum, Cell Sorting capacity of 358 MWH per annum, manufacturing capacity of 130 MWH per annum, and Battery testing capacity of 72 MWH per annum for two-wheeler batteries combined. The Noida unit also has an additional installed capacity of 60,000 motors per year. Both these manufacturing units are recognized by the Customs Department under MOOWR Scheme as Custom Bonded Warehouse facilities
• The company functions with experienced professionals, developers, designers, research team etc and ensures and maintains long term relations with customers all over India.

• The company,its promoters and directors are facing certain pending litigation and any outcome of this proceeding may impact the company operations and financial conditions.

• The company generates major portion of its revenue by the sale of batteries, cells and motor & controllers, any deduction in demand in these products in the market or the shortage of production of these productions may adversely effect the company operations and financial conditions.
• The company has reported negative cash flow for past years and may continue to do so in the future if the company is not able to generate sufficient cash flow.
• The company largely depends on few suppliers for the supply of raw materials for manufacturing its products and any disruption in the chain of supply or failure to maintain quality of the raw materials may adversely effect the company operations and financial conditions.
• The Lithium ion battery manufacturing units depend on advanced technology and machinery that keeps on upgrading. Failure to maintain these machinery and technology up to date may impact the production and eventually leading to affect the company operation and financial condition.
• A significant portion of its revenue is generated from the Delhi, Maharashtra, Uttar Pradesh and Haryana which contributed 79.57%, 77.49%, 75.69% and 79.93% respectively. Any political, social, economical or natural unrest in these states could adversely affect the company operations and financial conditions.

India is on a mission to implement sustainability and make the country carbon emission free by 2070. Given India’s growing manufacturing rate globally, the Lithium-ion battery market especially in the EV department is expected to rapidly grow in India at a CAGR of 50% from 20 GWh in 2022 to 220 GWh by 2030.

The company has shown strong fundamentals with healthy profits generated over the years. Potential investors should access the risks given in the RHP draft prospectus before investing. The link to RHP is given under FAQ section.

The company through this IPO aims to utilize its net proceeds to purchase  new machinery and equipment, meet working capital and corporate purposes. The company has promising fundamentals and has proved to show positive returns and financial strengths over the last three fiscal years. Prospective investors should go through its RHP draft prospectus before investing.