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Electro Force (India) Limited IPO, worth ₹80.68 crore, consisted of a fresh issue of 6,000,000 equity shares and an offer for sale component.
Sanjiv Bhasin: “Aarti and SRF. Those have been two of our top picks and they have been very sweet performers, particularly Aarti from Rs 450, crossed Rs 630. We still think that is one stock which must be in your portfolio despite the 50-70% runup. SRF is a pedigree stock as is Atul. These are three names which we would be very bullish on even at this price.”
The firm reported revenue of Rs 30.29 crore in FY23 against Rs 34.44 crore a year ago. Net profit for the year stood at Rs 7.80 crore against Rs 8.64 crore a year ago
Electro Force made its debut on the NSE SME platform with a mild premium of 7.5% on Wednesday. Post the listing, there was heavy buying interest with the shares locked in a 5% upper circuit at Rs 105.
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