Powerful Technologies IPO opens

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New Delhi [India], Aug 14 : A leading manufacturer of consumer electronic products – Powerful Technologies Limited’s IPO is getting a very good response from the market and investors.
The 13.55 Cr IPO was opened on 09th August at a share price of INR 51. As of now, the company sold 26,56,000 shares at a price of Rs. 51 each, 5.1 times the face value.
The company has a fully integrated manufacturing unit in India and deals in the manufacturing and marketing of LED TV sets, Monitors, Mobile Power Banks and accessories under the brand name of Powereye, Lappy Master, Kodak and Polaroid. The company’s growth was remarkable under the guidance of promoters Nitin Chhabra, Karuna Chhabra and Aditya Gupta which was set up in February 2015.
Listing is proposed at NSE Emerge, the SME platform of the stock exchange and it is being managed by Finshore Management Services Limited which also happens to be the merchant banker for this IPO. The IPO will be officially listed on NSE from 20th August 2018.
Managing Director of the company Aditya Gupta said, “As per the last 4 days trend, the response is overwhelming. Inspite being a Saturday and Sunday, the IPO was almost fully subscribed because of the trust being entrusted by the people on our company. We will use this money to meet the working capital requirement and further expansion of the brand.”
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 per cent in 2017-18.
Powerful Technologies Limited (India)
Powerful Technologies is a premier Electronics, Information Technology and FMCGmanufacturer 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. Besides its own brand’s 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 the government of India.