Beeline Capital Advisors is the sole book running lead manager of the Emmforce Autotech IPO, while Link Intime India is the registrar for the issue.
Emmforce Autotech, incorporated in 2012, is a manufacturer and exporter of drivetrain parts for niche vehicles.
The initial public offering (IPO) of Emmforce Autotech will open for subscription on Tuesday, April 23 and will close for bidding on Thursday, April 25. The company will be selling its shares in the range of Rs 93-98 apiece. The company is looking to raise a total 53.90 crore via its initial stake sale, which entirely includes a fresh share shale of 54,99,600 equity shares.
Emmforce Autotech, incorporated in 2012, is a manufacturer and exporter of drivetrain parts for niche vehicles. The company’s product list includes housings, locks, covers, 4WD locking hubs, spindles, axles and shafts, gear shifters, yokes, differential spools, differential tools, and various forged/cast differential parts mainly for 4WD and high-performance racing vehicles.
Retail investors can apply for a single lot only, consisting of 1,200 equity shares. Each lot will cost then Rs 1,17,600 at the upper end of the price band. Other investors need to apply for a minimum of two lots, or 2,400 equity shares, amounting to Rs 2,35,200 for their minimum bid.
Ahead of its listing, shares of Emmforce Autotech are commanding a grey market premium of Rs 30 apeice, suggesting a listing pop of 31 per cent to the investors at the upper end of the price band. The grey market premium for the company has about doubled since the announcement of the issue.
The company has reserved 2,76,000 equity shares for the market market portion and 50 per cent of the net offer shall be reserved for qualified institutional bidders, while non-institutional investors will get a 15 per cent of shares. Remaining 35 per cent shares will be allocated for the retail investors.
For the seven months ended on October 31, 2023, Emmforce Autotech reported a net profit of Rs 5.12 crore with a revenue of Rs 47.90 crore. The company’s net profit came in at Rs 4.39 crore with a revenue of Rs 48.75 crore for the financial year ended on March 31, 2023.
Beeline Capital Advisors is the sole book running lead manager of the Emmforce Autotech IPO, while Link Intime India is the registrar for the issue. The market maker for Emmforce Autotech IPO is Spread X Securities. Shares of the company shall be listed on BSE SME platform on Tuesday, April 30.
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