Eppeltone Engineers
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 17 Jun 2025 – 19 Jun 2025
- Listing date
- 24 Jun 2025
- Face value
- ₹10 per share
- Issue price
- ₹128 per share
- Lot size
- 1,000 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹43.96 Cr
- Market cap at offer price
- ₹166 Cr
- Promoter holding
- 83.69% → 61.51% pre-issue → post-issue
- ISIN
- INE11HF01010
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Expert Global Consultants Pvt.Ltd.
- Registered office
- A-57, Defence Colony, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 9,78,000 | — | — |
| Market maker | 1,72,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹128
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,28,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,56,000 |
| S-HNI (max) | 7 | 7,000 | ₹8,96,000 |
| B-HNI (min) | 8 | 8,000 | ₹10,24,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 11.79 | 8.67 |
| P/E (×) | 10.86 | 14.76 |
| Price to book (×) | 2.62 | — |
| Market cap | — | ₹166 Cr |
Key performance indicators
- Return on net worth
- 40.79%
- ROCE
- 43.00%
- Debt / equity
- 0.79
- PAT margin
- 10.75%
- EBITDA margin
- 14.30%
- NAV per share
- ₹48.79
- Price to book
- 2.62
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Eppeltone Engineers
Eppeltone Engineers Limited, incorporated in 2002 and converted to public company in 2024, is engaged in designing, manufacturing, and supplying static watt hour meters, smart meters, water meters, and power conditioning devices such as UPS systems and battery chargers. The company acquired the running business of the proprietorship M/s Eppeltone Engineers (established 1977) and has since evolved from manufacturing switch-mode power supplies to becoming a specialized supplier of electronic metering solutions. Operating manufacturing facilities totaling 36,000 sq.ft. in Greater Noida, Uttar Pradesh, the company serves electricity distribution companies (DISCOMs), government utilities, and private contractors across over 30 Indian states. The company has historically generated 52-89% of revenue from government projects and is approved by multiple central and state public sector undertakings. It makes money through B2B supply of energy meters and related products, often under multi-year government tender contracts with delivery schedules spanning 2-3 years.
Company Analysis
from RHPEppeltone Engineers Limited manufactures electronic energy meters including smart meters and power conditioning devices for electricity distribution utilities, government agencies, and private companies across India.
Eppeltone Engineers Limited, incorporated in 2002 and converted to public company in 2024, is engaged in designing, manufacturing, and supplying static watt hour meters, smart meters, water meters, and power conditioning devices such as UPS systems and battery chargers. The company acquired the running business of the proprietorship M/s Eppeltone Engineers (established 1977) and has since evolved from manufacturing switch-mode power supplies to becoming a specialized supplier of electronic metering solutions. Operating manufacturing facilities totaling 36,000 sq.ft. in Greater Noida, Uttar Pradesh, the company serves electricity distribution companies (DISCOMs), government utilities, and private contractors across over 30 Indian states. The company has historically generated 52-89% of revenue from government projects and is approved by multiple central and state public sector undertakings. It makes money through B2B supply of energy meters and related products, often under multi-year government tender contracts with delivery schedules spanning 2-3 years.
Objects of the Issue
- Working Capital Requirements ₹3,000.00 lakhs p.72
- Funding Capital Expenditure towards installation of additional machinery at our factory ₹500.00 lakhs p.72
- General Corporate Purposes p.72
Issue Structure
- Total Issue
- Up to ₹[●] Lakhs
- Fresh Issue
- Up to 34,34,000 Equity Shares aggregating up to ₹[●] Lakhs
- Offer for Sale
- NA
- Price Band
- [●] to [●] per equity share
- Lot Size
- [●] Equity Shares and in multiples of [●] equity shares thereafter
- Face Value
- ₹10 per equity share
Business Model
The company operates a B2B manufacturing and supply model. It manufactures electronic energy meters (single-phase, three-phase, smart meters) and power conditioning devices at its manufacturing facility. Revenue is primarily generated through: (1) Supply of energy meters to DISCOMs and government tenders (historically 52-89% of revenue); (2) Supply to private sector companies and Automated Metering Infrastructure Service Providers (AMISPs); (3) Distribution and operation management services for electricity distribution networks in rural areas. The company generates revenue on a per-unit basis through government tenders and direct contractual arrangements with utilities and contractors.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Rohit Chowdhary | Promoter and Managing Director | 53.83% | 39.57% |
| Deven Chowdhary | Promoter and Whole Time Director | 29.44% | 21.64% |
| Reshu Chowdhary | Promoter and Chairperson | 0.21% | 0.15% |
| Divya Sharma | Promoter Group Member | 0.21% | 0.15% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.