Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
H.M. Electro Mech IPO
Price Band
₹71.0–75.0
Issue Size
₹27.74 Cr
Lot Size
1,600 shares
Min Investment
₹120,000
GMP
+₹6.0 (8.0%)
Issue Price
₹75.0
Subject to Sauda
₹7300
Paid only if allotted
H.M. Electro Mech IPO AI Summary
- H.M. Electro Mech IPO is listed on BSE SME.
- Price band: ₹71.0–₹75.0 per share, lot size 1,600 shares (min. investment ₹120,000).
- Subscription window: 24 Jan–28 Jan 2025, listing on 31 Jan 2025.
- Current GMP is +₹6.0 (8.0%), an estimated listing price of ₹81 — unofficial and can change daily.
H.M. Electro Mech Limited is an infrastructure firm with a focus on turnkey projects and a diverse client base. The company has shown revenue growth over the past years, although recent figures reflect a decline in income for the most recent period. The IPO offers an opportunity for investors, but potential applicants should consider their risk profile and the company's market position.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
H.M. Electro Mech IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 28 Jan 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
H.M. Electro Mech IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+8.0%
Est. Listing
₹81.0
Updated: 25 Jul 2026 14:31
About the Company
Incorporated in 2003, H.M. Electro Mech Limited is an infrastructure firm specialising in turnkey projects, including supply, installation, testing, and commissioning of pumping machinery and providing comprehensive operation and maintenance services. The company's core business includes electrification projects with Indian Railways, banks, and municipal corporations. It has also started EPC projects, which include laying cross-country pipelines and civil work for water supply projects such as water treatment plants, pump houses, diesel generators, panel rooms, instrumentation, and PLC-SCADA. H.M. Electro-Mech has collaborated with other companies for the civil work portion of these EPC projects. Additionally, the company sell products such as 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 nationwide, 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. Competitive Strength Provides end-to-end solutions for projects, starting from conceptualization to maintenance Robust relationships with leading manufacturers and OEMs, facilitating competitive pricing and expedited delivery Prompt decision-making process ensures swift project progression and responsiveness to client needs. Experienced Management Team The team swiftly mobilizes resources for emergencies.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 85.99 | 72.15 | 64.08 | 44.34 |
| Total Income | 45.43 | 117.30 | 101.67 | 62.03 |
| Profit After Tax | 3.34 | 8.19 | 6.01 | 2.58 |
| NET Worth | 35.42 | 32.27 | 24.08 | 18.07 |
| Reserves and Surplus | 25.42 | 22.27 | 14.08 | 8.07 |
| Total Borrowing | 7.33 | 12.25 | 6.40 | 0.18 |
Key Ratios
EPS
₹8.19
NAV
₹32.27
ROE
29.06%
ROCE
33.28%
RoNW
25.37%
P/B Value
2.32
P/E Ratio
9.16
Market Cap
₹102.74 Cr
PAT Margin
6.99%
Debt/Equity
0.38
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Diluted |
|---|---|---|---|---|
| Hec Infra Projects Limited | 34.39 | 13.53% | 14.63 | 4.65 |
| H.M. Electro Mech Limited This IPO | 32.27 | 25.37% | — | 8.19 |
Promoters
Dipak Padmakant Pandya, Mahendra Ramabhai Patel, Varsha Mahendra Patel and Mita Dipak Pandya
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Meet Working Capital Requirements 21.00 2 General Corporate Purposes 4.02 3 Public Issue Expenses 2.72 Total 27.74
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹62.03 Cr in the year ending 31 Mar 2022, increasing to ₹101.67 Cr by 31 Mar 2023, and further rising to ₹117.30 Cr by 31 Mar 2024. However, for the period ending 30 Sep 2024, total income decreased to ₹45.43 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹2.58 Cr in the year ending 31 Mar 2022, which rose to ₹6.01 Cr by 31 Mar 2023, and further increased to ₹8.19 Cr by 31 Mar 2024. For the period ending 30 Sep 2024, profit after tax was ₹3.34 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
H.M. Electro Mech has a diluted EPS of ₹8.19, which implies a P/E ratio of 9.16 at the issue price. In comparison, peers like Hec Infra Projects Limited have a P/E of 14.63, suggesting that H.M. Electro Mech is priced at a lower multiple than its peer group.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the price at which shares are traded in the unofficial market before they are listed on the stock exchange. A positive GMP indicates that the shares are expected to list at a higher price than the issue price, while a negative GMP suggests the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid this IPO, as it operates in a competitive sector with inherent project execution risks.
IPO Timeline, Explained
The IPO opens for subscription on January 24, 2025, and closes on January 28, 2025. Allotment of shares is expected on January 29, 2025, with the listing date set for January 31, 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange at a price higher than the issue price. However, these gains are not guaranteed and can be affected by market conditions and investor sentiment on the listing day.
This evaluation is generated from H.M. Electro Mech's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is H.M. Electro Mech IPO GMP today?
H.M. Electro Mech IPO GMP today is +₹6.0 (8.0%), indicating an estimated listing price of ₹81. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of H.M. Electro Mech IPO?
The price band of H.M. Electro Mech IPO is ₹71.0–₹75.0 per share.
When does H.M. Electro Mech IPO open and close?
H.M. Electro Mech IPO opens on 24 January 2025 and closes on 28 January 2025.
When does H.M. Electro Mech IPO list on the stock exchange?
H.M. Electro Mech IPO listed on 31 January 2025 at ₹81.0.
What is the lot size for H.M. Electro Mech IPO?
The lot size for H.M. Electro Mech IPO is 1600 shares, requiring a minimum investment of ₹120,000.
What is the lot size for this IPO?
The lot size for H.M. Electro Mech's IPO is 1600 shares.
What is the minimum investment required?
The minimum investment required is ₹120,000.
What is the price band for the IPO?
The price band for the IPO is ₹71.0 to ₹75.0.
When does the IPO open and close?
The IPO opens on January 24, 2025, and closes on January 28, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 Jan 2025
Close
28 Jan 2025
Allotment
29 Jan 2025
Listing
31 Jan 2025
Similar IPOs
Plan Your IPO Investment
Related Articles
Community Sentiment
What are other investors planning for H.M. Electro Mech?
No votes yet — be the first to share your view.
Sign in to voteDiscussion
User-generated content — not investment advice, and not verified or endorsed by TopFund.
No comments yet — start the discussion.