H.M. Electro Mech came to market through an SME IPO that opened on 24 January 2025 and closed on 28 January 2025, and the shares listed on 31 January 2025 on BSE SME. The price band was ₹71 to ₹75 per share and one lot was 1600 shares, so the minimum application was ₹1,20,000. The issue size was ₹27.74 crore. The whole issue was fresh shares, so the money raised went to the company.
Cameo Corporate Services Limited was the registrar to the issue, and Beeline Capital Advisors Pvt Ltd was the lead manager.
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H.M. Electro Mech Limited that was incorporated in the year 2003 is an infrastructure firm in turnkey projects, like supply, installation, testing, and commissioning of pumping machinery, and providing comprehensive operation and maintenance services. The core business of the company includes electrification projects with Indian Railways, banks, and municipal corporations.
It has also initiated EPC projects, which include laying cross-country pipelines and civil work for water supply projects like water treatment plants, pump houses, diesel generators, panel rooms, instrumentation, and PLC-SCADA. H.M. Electro-Mech has also joined hands with other companies for the civil work part of these EPC projects. Besides, the company sells products like pumps, pipes, transformers, and motors. The company's clients include State Governments, Central Governments, Municipal corporations, the banking sector and educational institutes.
The company operates throughout the country, handling projects in Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Punjab, and Chandigarh. As of September 30, 2024, the Company had 37 permanent employees and 107 on contracts.
As described in the offer document.
| Metric | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
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Dipak Padmakant Pandya, Mahendra Ramabhai Patel, Varsha Mahendra Patel, Mita Dipak Pandya. Promoter holding 97.47% before the issue and 71.15% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
H.M. Electro Mech IPO was a ₹27.74 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹71–₹75 per share with a lot size of 1,600 shares (₹1,20,000). The IPO was open from January 24 to January 28, 2025. Shares listed on BSE SME on January 31, 2025 at ₹81, a 8.0% premium to the issue price of ₹75. Cameo Corporate Services Limited is the registrar.
Beeline Capital Advisors Pvt Ltd is the book running lead manager.
The price band of H.M. Electro Mech IPO is ₹71 to ₹75 per share.
The lot size of H.M. Electro Mech IPO is 1600 shares.
The minimum investment for H.M. Electro Mech IPO is approximately ₹1,20,000 based on the upper price band.
The allotment date of H.M. Electro Mech IPO is Jan 29, 2025.
H.M. Electro Mech IPO's final recorded GMP before listing was ₹5 per share (a 7% premium over the ₹75 upper price band). The shares listed at ₹81. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check H.M. Electro Mech IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the H.M. Electro Mech IPO allotment status on Rupix for quick and easy access.
₹71 to ₹75 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,20,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,20,000, for one lot of 1600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 24 January 2025 and closed on 28 January 2025.
The basis of allotment was published on 29 January 2025 by Cameo Corporate Services Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 31 January 2025 on BSE SME.
The issue size was ₹27.74 crore. The fresh issue was 36,99,200 shares (aggregating up to ₹27.74 crore).