The issue will open on August 9 and close on August 14, 2018.
Powerful Technologies Ltd., a leading manufacturer of consumer electronics products like LED TV sets and Mobile Power Banks, is gearing up to hit the capital market with initial public offer (IPO).
Mr. Aditya Gupta, Managing Director, Powerful Technologies
Listing is proposed at NSE Emerge, the SME platform of the stock exchange. The company, which has its manufacturing facilities in Noida, plans to use proceeds from the IPO to mainly meet its working capital requirement.
The promoters of the company are Nitin Chhabra, Karuna Chhabra and Aditya Gupta which was setup in February 2015. It initially sold Mobile Power products under brand name ‘Powereye’ and ‘Lappymaster’. The company is now an authorized licensee/approved manufacturer for manufacturing and selling Polaroid brand LED TVs and LED Monitors and Kodak brand Power Banks. Both are American popular brands.
Managing Director of the company Mr. Aditya Gupta said, “Since our company has consistently generated profits from the beginning and have a huge potential due to the brand we are carrying and the industry we are into, we hope for a positive response to our IPO from investors. Proceeds from the IPO will help finance our expansion plans.”
Powerful Technologies generated gross revenue of over Rs. 62 crore from operations in 2017-18. The company has consistently generated profit from inception. Its profit before tax (PBT) margin stood at 9.93% in 2017-18.
Aditya Gupta, 35, managing director of the company was earlier co-promoted Pioneer Computronix Pvt. Ltd., which ventured into IT and telecommunication products and reached a turnover of over Rs. 100 crore in 2016-17 and is continuously growing.
Karuna Chhabra, 37, is a promoter and non-executive director of Powerful Technologies. She has a long experience in handling HR and administrative matters. Nitin Chhabra, 40, a promoter and executive director of the company, is a chartered accountant by qualification. He has been the driving force behind the growth of the business of the group.
Powerful Technologies Private Limited (India)
Powerful Technologies is premier Electronics, Information Technology and FMCG manufacturer in India. The company embraced the “Make in India” initiative launched by the government and are the pioneers in manufacturing LED TV’s, Monitors and Power-banks, speakers and accessories in India. With branches and distribution partnerships across the country, Powerful provides exceptional value to our customers, vendors and partners. Beside its own brands company also has the manufacturing and marketing right of Polaroid LED TV and Kodak power banks in India. The company has just got status of Authorized economic operator from government of India.