The SME IPO of Emmforce Autotech will open for subscription on Wednesday and ought to shut on April 25. The corporate targets to raise on the subject of Rs 54 crore by the SME IPO and checklist the shares on the BSE SME platform.
Earlier than the predicament opening, the company has raised spherical Rs 15 crore from anchor investors, below which 1.56 million shares luxuriate in been offered at Rs 98 every. Marquee investors collectively with BofA Securities Europe, and Astorne Capital and others sold into the anchor book
Listed below are 10 key issues investors must be taught about the general public offer earlier than subscribing to the predicament.
The corporate is engaged in the industry of manufacturing niche automobile drivetrain parts like differential housings, differential lockers, differential covers, four wheel power locking hubs, spindles, axles and shafts, instruments shifters, yokes, differential spools, differential instruments and various differential solid/cast parts primarily for 4-wheel power and performance racing vehicles.
India’s auto element industry is a vital sector riding macroeconomic verbalize and employment. The industry contains gamers of all sizes, from huge companies to micro entities, unfold true by clusters true by the country. The auto parts industry accounted for 2.3% of India’s GDP and offered notify employment to 1.5 million people.
The IPO is completely a new equity predicament of 54.Ninety 9 lakh shares and by the predicament, the company targets to raise on the subject of Rs 54 crore.
The corporate is offering its shares at Rs 93-98 apiece, and investors can declare for 1200 shares in 1 lot.
For the duration ended December 2023, the company clocked revenues of Rs 5.19 crore and obtain profit of Rs 43 lakh.
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The obtain proceeds from the general public offer will be feeble for investment in subsidiaries in the execute of equity or debt, working capital requirements and a quantity of total corporate functions.
Beeline Capital Advisors is appearing because the lead supervisor to the predicament and Lin Intime India is the registrar.
About 50% of the offer is reserved for licensed institutional investors, 35% for retail investors and the rest 15% for non-institutional investors.
The IPO opened on April 23 and ought to shut on April 25. The last piece is in total made on April 26. The corporate's shares will likely salvage listed on April 30.
Earlier than the predicament opening, the company's shares are procuring and selling with a GMP of Rs 90 in the unlisted market.
