Here are the comprehensive details on Eppeltone Engineers Limited IPO:
IPO Dates
| Event | Date |
|---|---|
| Opening Date | June 17, 2025 |
| Closing Date | June 19, 2025 |
| Allotment Finalised | June 20, 2025 |
| Refunds Initiated | June 23, 2025 |
| Shares Credited | June 23, 2025 |
| Listing Date | June 24, 2025 |
IPO Details
| Attribute | Details |
|---|---|
| IPO Type | SME, Book-Built, NSE Emerge |
| Face Value | ₹10 per share |
| Issue Size | Up to 3.434 million equity shares |
| Price Band | ₹125 to ₹128 per share |
| Lot Size | 1,000 Shares |
| Use of Funds | Working capital, capex, general corporate |
| Total Issue Size | 34,34,000 shares (aggregating up to ₹43.96 Cr) |
| Fresh Issue | 34,34,000 shares (aggregating up to ₹43.96 Cr) |
| Lead Manager | Expert Global Consultants |
| Registrar | Skyline Financial Services |
Promoters of Eppeltone Engineers Limited
Here are the key promoters and founding figures behind Eppeltone Engineers Limited, along with their details:
Founding Promoter
Late Sh. Harish Chander Chowdhary (Founder & Former Chairman)
- Born October 30, 1950; passed away May 11, 2021.
- A pioneer electrical engineer, he founded Eppeltone in 1977 and spearheaded its expansion into electronics manufacturing through the 1990s with facilities in Parwanoo and New Delhi.
👥 Current Promoter‑Directors
These individuals not only hold promoter status but also directly manage and shape the company:
Rohit Chowdhary
- Holds an M.Tech from Delhi College of Engineering.
- Joined Eppeltone in 2004 and is credited for establishing the NABL-accredited R&D testing lab.
- Currently serves as a Director and is actively involved in product development and strategic operations.
Deven Chowdhary
- An engineering graduate who joined the company in 2009.
- As a Director, he focuses on operational efficiency and bolstering customer satisfaction through quality delivery.
Reshu Chowdhary
- Appointed as Additional Director in February 2024 and thereafter included as a Director.
- Although specific bio details are scarce, she is listed among the key directors and promoters.
Summary of Promoters
| Name | Role | Key Highlights |
|---|---|---|
| Sh. Harish C. Chowdhary | Founder, Ex-Chairman (d. 2021) | Founded company in 1977, expanded manufacturing |
| Rohit Chowdhary | Director, Promoter | M.Tech, R&D lab lead, joined 2004 |
| Deven Chowdhary | Director, Promoter | Engineering degree, joined 2009 |
| Reshu Chowdhary | Director, Promoter | Joined the board in Feb 2024 |
In summary, Eppeltone is run as a family‑promoted enterprise anchored by Rohit, Deven, and Reshu Chowdhary, continuing the legacy initiated by the late Harish C. Chowdhary. Would you like detailed profiles, shareholding percentages, or linked regulatory filings?
Eppeltone Engineers Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1000 | ₹1,28,000 |
| Retail (Maximum) | 1 | 1000 | ₹1,28,000 |
| HNI (Minimum) | 2 | 2,000 | ₹2,56,000 |
Eppeltone Engineers Limited IPO Promoter Holding
| Promoter(s) | Pre‑IPO Holding | Post‑IPO Holding |
|---|---|---|
| Rohit Chowdhary, Deven Chowdhary, Reshu Chowdhary (combined) | 83.69 % | – |
Notes:
- 83.69 % of the total share capital was held by the promoters collectively before the IPO.
- Post-IPO, as ~26.31 % of the shares were issued to public investors, promoters’ holding is estimated around 74.69 % – 74.83 %, depending on rounding—this is a standard adjustment following a fresh issue .
About Eppeltone Engineers Limited
- Incorporated: 1977 (Private), converted to public company in 2002
- Headquarters & Manufacturing: 36,000 sq ft plant at Greater Noida, Uttar Pradesh; additional facilities in Noida and Okhla, Delhi
- Certifications: ISO 9001, 14001, 27001; CMMI Level III; Government of India ‘S’ mark safety certification; NABL-accredited R&D lab
Evolution of Eppeltone Engineers Limited
- 1977 – Founded to manufacture SMPS (Switched Mode Power Supply) and basic electronic control panels.
- 1990s – Expanded to include AVRs, MCBs, and analog energy measurement systems.
- 2002 – Became a public limited company to scale operations.
- 2009 – Introduced automatic SMT line and advanced PCB assembly.
- 2016–2020 – Launched smart energy meters, BPL kits, lithium battery packs, and EPPELTONE-branded LED luminaires.
Products Manufactured by Eppeltone Engineers Limited
- Smart Energy Meters – Single-phase, three-phase, CT-operated, and pre-paid meters.
- Water Meters – Suitable for residential and industrial water flow monitoring.
- Meter Boxes & Distribution Panels
- BPL Kits and UPS Systems
- LED Street Lights, Flood Lights & Emergency Lighting Solutions
- Battery Packs and Solar Charging Units
- Energy Measurement Transducers and Accessories
These products are widely approved by state DISCOMs and used in power distribution modernization and smart grid deployment projects across India.
Promoters and Leadership
The company was founded by Late Shri Harish Chander Chowdhary, a visionary in the Indian electronics sector. The current leadership includes:
- Mr. Rohit Chowdhary (M.Tech) – Director and head of R&D initiatives.
- Mr. Deven Chowdhary – Director, overseeing operations and quality.
- Mrs. Reshu Chowdhary – Director, involved in strategic functions.
Together, the promoter group holds a majority stake and continues to guide the company’s growth in the energy sector.
Infrastructure and Manufacturing Capabilities
Eppeltone operates a modern 36,000 sq. ft. manufacturing facility in Greater Noida, equipped with:
- SMT lines
- Plastic molding units
- NABL-certified labs
- In-house software & hardware development
This vertically integrated infrastructure ensures end-to-end quality control from design to delivery.
Key Strengths of Eppeltone Engineers Limited
- 45+ years of industry experience
- Government and PSU-approved product lines
- End-to-end design, testing, and manufacturing in-house
- Strong leadership with a technical background
- Well-positioned to capitalize on India’s energy reforms and smart meter rollout
Conclusion
Eppeltone Engineers Limited is a time-tested player in India’s power and electronics space, offering trusted and innovative solutions in energy metering and control. With robust R&D, government certifications, and a diversified product portfolio, the company is ideally placed to serve India’s transition toward smart, efficient energy systems.
Eppeltone Engineers Limited Financial Information
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹123.80 Crore | ₹69,82,550.00 Crore | ₹43.73 Crore |
| Revenue | ₹125.74 Crore | ₹80.04 Crore | ₹72.99 Crore |
| Profit After Tax | ₹11.23 Crore | ₹8.16 Crore | ₹1.09 Crore |
| Net Worth | ₹40.00 Crore | ₹20.40 Crore | ₹11.49 Crore |
| Reserves and Surplus | ₹30.48 Crore | ₹16.16 Crore | ₹7.50 Crore |
| Total Borrowing | ₹30.54 Crore | ₹16.31 Crore | ₹12.68 Crore |
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 41% |
| ROCE | 43% |
| Debt/Equity | 0.79 |
| RoNW | 40.79% |
| PAT Margin | 10.75 |
| Price to Book Value | 2.62 |
Objects of the Issue
Working Capital Requirements
- To fund day-to-day operational needs such as inventory, receivables, and vendor payments.
- This is crucial to support the growing order book and scale manufacturing capacity for smart meters and electrical equipment.
Purchase of Plant & Machinery
- Acquisition of new manufacturing equipment to modernize and expand the company’s facility in Greater Noida.
- Expected to improve automation, production speed, and product quality.
General Corporate Purposes
- Covering administrative expenses, brand building, business expansion initiatives, and potential product R&D.
- Provides strategic flexibility to respond to market opportunities.
These objectives are designed to enhance operational capacity, support growth in smart metering, and strengthen Eppeltone’s position in India’s evolving energy infrastructure landscape.
Strengths of Eppeltone Engineers Limited IPO
1) Strong Industry Experience
- Founded in 1977, Eppeltone Engineers Limited has a long-standing track record in India’s energy and electronics manufacturing sector. This experience lends trust and credibility to the brand in both private and government markets.
2) Diverse Product Range
- The company manufactures a wide variety of smart energy meters, water meters, UPS systems, battery packs, and power distribution panels. This diversification reduces dependency on a single product or segment and supports cross-sector demand.
3) Government and PSU Approvals
- Eppeltone supplies to over 30 DISCOMs and public sector undertakings (PSUs), and its products are approved by leading state electricity boards. This ensures consistent and large-volume orders through public tenders.
4) Robust Manufacturing Infrastructure
- The company owns a modern 36,000 sq. ft. facility in Greater Noida with SMT lines, molding machines, and NABL-certified labs, providing full control over product quality and delivery timelines.
5) Healthy Financial Performance
- With revenue of ₹80.04 crore and PAT of ₹8.43 crore in FY23, the company boasts strong profit margins (~10.5%) and operational efficiency. This is a positive sign for IPO investors seeking sustainable returns.
6) Well-Qualified Promoter Group
- The management includes technocrats and experienced professionals who have been instrumental in driving innovation, client acquisition, and profitable growth for the company.
Risks of Eppeltone Engineers Limited IPO
1) Heavy Reliance on Government Contracts
- A significant portion of the company’s business comes from government and PSU orders, which are prone to delays, regulatory changes, and budget constraints.
2) Working Capital Dependency
- The business model requires substantial working capital for raw materials, inventory, and receivables. Any delay in collections can lead to liquidity issues and affect operations.
3) Moderate Credit Rating (BB–)
- As rated by Infomerics, the company’s BB– rating suggests moderate risk. This may limit its ability to borrow at competitive interest rates or raise further debt in the future.
4) Competitive and Evolving Market
- The energy metering industry is highly competitive, with several players offering technologically advanced solutions. Eppeltone must continuously invest in innovation to retain market share.
5) Raw Material Price Fluctuations
- The company sources critical components like semiconductors, plastics, and copper. Any volatility in raw material prices may squeeze margins and impact profitability.
6) Technological Obsolescence and Regulation Risks
- Government policies or the introduction of new standards in smart metering may require the company to invest further in R&D, certifications, and compliance, which can affect margins and timelines.
Conclusion:
- The Eppeltone Engineers Limited IPO offers a promising opportunity, backed by a strong legacy, reliable client base, and healthy financials. However, investors must balance the growth potential with risks such as government dependency, working capital strain, and competition in the evolving smart metering ecosystem.
Eppeltone Engineers Limited Contact Details
📍 Registered Office & Factory Address
Eppeltone Engineers Ltd.
G‑91, UPSIDC Industrial Area, Site-V Surajpur (Kasna),
Greater Noida – 201306, Uttar Pradesh, India
📞 Phone Numbers
- Primary: +91‑120‑2341333
- Alternate (Delhi office): 011‑4106 5208 or +91‑7011197831
✉ Email Addresses
- General Inquiries: info@eppeltone.in
- Careers & HR: hr@eppeltone.in
🌐 Website
Eppeltone Engineers Limited IPO Registrar
📇 Registrar to the Issue
Skyline Financial Services Private Limited
- Role: Registrar for Eppeltone Engineers Limited’s SME IPO
- Responsibilities: Handling investor communications, processing applications, allotment of shares, refunds, KYC/document verifications, and liaising with depositories reddit.com+13ipoplatform.com+13business-standard.com+13
- Importance: As the Registrar, Skyline plays a central role in ensuring a smooth IPO experience from application submission through listing.
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