New Delhi: The preliminary public providing (IPO) of Emmforce Autotech Restricted, a number one automotive area of interest parts producer in India, will open on April 23, 2024. The anchor portion can be opened on Monday, April 22, 2024, and the difficulty will conclude on April 25, 2024.
The corporate intends to boost roughly INR 53.9 crore (at higher worth band) from the providing and goals to be listed on BSE SME platform. The value band for the difficulty has been mounted at INR 93 – INR 98 per share, and the lot measurement can be 1,200 fairness shares, the corporate mentioned.
Beeline Capital Advisors Non-public Restricted is the only real E book Operating Lead Supervisor, and Hyperlink Intime India Non-public Restricted is the Registrar for the difficulty.
The IPO will comprise a recent subject of 54,99,600 fairness shares with a face worth of INR 10 by way of the book-building route. As many as 2.76 lakh fairness shares have been reserved for the Market Maker, 7.83 lakh fairness shares for NIIs, 26.11 lakh fairness shares allotted for QIBs (together with Anchor Reservation), and Retail (RII) portion accounts for 18.28 lakh fairness shares, the corporate mentioned in a media launch.
In response to the RHP doc, the corporate proposes to make the most of the online proceeds from the IPO to put money into its subsidiary firm, Emmforce Mobility Options Non-public Restricted (EMSPL), for organising a brand new plant at Jharmajri, Baddi in Himachal Pradesh; meet the corporate’s working capital requirement; and for basic company function. EMSPL manufactures Rotavator Blades and Metal Forgings for the automotive and engineering business.
The Panchkula-headquartered firm manufactures area of interest automotive drivetrain elements and its gross sales includes majority of exports to 6 continents, primarily to North America and Asia. Emmforce manufactures a variety of area of interest automotive drivetrain elements like Differential Housings, Differential Lockers, Differential Covers, 4WD Locking Hubs, Spindles, Axles & Shafts, Gear Shifters, Yokes, Differential Spools, Differential Instruments and numerous differential cast / forged elements primarily for 4-wheel Drive and efficiency racing autos. Emmforce operates a producing plant unfold throughout 9,962 sq.m at Baddi in Himachal Pradesh.Emmforce Autotech was based by the first-generation automotive business entrepreneur Ashok Mehta. With over 32 years of wealthy expertise in manufacturing automotive differential and drivetrain elements, Mehta has been instrumental in figuring out the corporate’s imaginative and prescient and development methods. Although a chartered accountant by training, he authored the world’s first guide ever written on axle shafts titled “The World Round Axle Shafts”.
The corporate recorded a income of INR 46.45 crore with a revenue (PAT) of INR 5.11 crore within the first seven months of the monetary yr 2023-24, which ended October 31, 2023, in comparison with a income of INR 45.69 crore and a revenue (PAT) of INR 4.38 crore in FY 2022-23.
