New Delhi, May 13 (GCBusiness) Evans Electric Limited became 298th company to get listed on the BSE SME platform on Monday.
Evans Electric Limited came out with an initial public offering of 3,72,000 equity shares of Rs 10 each (“equity shares”) for cash at a price of Rs 52 per equity share (the “offer price”), aggregating to Rs 193.44 lakh. The company has successfully completed its public issue on May 3, 2019.
Evans Electric Limited is a Maharashtra-based company whose registered office is at Mumbai. The company is engaged in the business of repairing, re-winding and re-designing including inhouse manufacturing of replacement components of small, medium and large electric motors, generators and transformers, which are used in thermal, hydro, diesel, gas & nuclear electric power generation, petroleum refineries, chemicals and fertilizers, cement plants, steel plants, tyre manufacturing, sugar mills, oil and gas exploration, shipping, mining and railway traction.
Mumbai based HEM Securities Limited was the lead managers for Evans Electric Limited.
The 298 companies listed on BSE SME Platform have raised Rs. 3073.03 crores from the market and total market capitalization of 298 companies as on May 13, 2019 is 17,929.16 crore. BSE is the market leader in this segment with a market share of 60.32 per cent.