Emmforce Autotech IPO is a book built issue of Rs 53.90 crores. The issue is entirely a fresh issue of 55 lakh shares.
Emmforce Autotech IPO opens for subscription on April 23, 2024 and closes on April 25, 2024. The allotment for the Emmforce Autotech IPO is expected to be finalized on Friday, April 26, 2024. Emmforce Autotech IPO will list on BSE SME with tentative listing date fixed as Tuesday, April 30, 2024.
Emmforce Autotech IPO price band is set at ₹93 to ₹98 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹117,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹235,200.
Emmforce Autotech IPO Details
| IPO Date | April 23, 2024 to April 25, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹93 to ₹98 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 5,499,600 shares (aggregating up to ₹53.90 Cr) |
| Fresh Issue | 5,499,600 shares (aggregating up to ₹53.90 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 15,000,000 |
| Share holding post issue | 20,499,600 |
| Market Maker portion | 276,000 shares Spread X Securities |
Emmforce Autotech IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Emmforce Autotech IPO Anchor Investors Details
Emmforce Autotech IPO raises Rs 15.35 crore from anchor investors. Emmforce Autotech IPO Anchor bid date is April 22, 2024.
| Bid Date | April 22, 2024 |
| Shares Offered | 1,566,000 |
| Anchor Portion Size (In Cr.) | 15.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 25, 2024 |
Emmforce Autotech IPO Timeline (Tentative Schedule)
Emmforce Autotech IPO opens on April 23, 2024, and closes on April 25, 2024.
| IPO Open Date | Tuesday, April 23, 2024 |
| IPO Close Date | Thursday, April 25, 2024 |
| Basis of Allotment | Friday, April 26, 2024 |
| Initiation of Refunds | Monday, April 29, 2024 |
| Credit of Shares to Demat | Monday, April 29, 2024 |
| Listing Date | Tuesday, April 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 25, 2024 |
Emmforce Autotech IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹117,600 |
| Retail (Max) | 1 | 1200 | ₹117,600 |
| HNI (Min) | 2 | 2,400 | ₹235,200 |
| Lot Size Calculator | |||
Emmforce Autotech IPO Promoter Holding
Mr. Ashok Mehta, Mrs. Neetu Mehta and Mr. Azeez Mehta are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.17% |
About Emmforce Autotech Limited
Emmforce Autotech Limited was founded in 2012 and is a manufacturer and exporter of drivetrain parts for niche vehicles.
The company’s product list includes differential housings, differential locks, differential 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.
Competitive strengths:
- Engineering excellence: in-house research, design and development and in-depth knowledge of a wide range of materials and processes
- One-stop solution for drivetrain parts
- Quality assurance and standards: Strict quality standards are followed and maintained throughout the process.
- Existing customer relationships: Two decades of good customer relationships contribute to the company receiving regular orders from its customers.
- Scalable business model: The company’s business model is to make the best use of existing resources, create linkages with the development team’s expertise, and achieve consistent customer satisfaction.
- Experienced management team
The company’s manufacturing facility is located in Baddi, Himachal Pradesh.
As of October 31, 2023, the company employed 128 people.
Emmforce Autotech Limited Financial Information (Restated)
Emmforce Autotech Limited’s revenue decreased by -31.7% and profit after tax (PAT) dropped by -40.1% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,597.13 | 4,895.40 | 5,257.36 | 3,384.41 |
| Revenue | 4,790.31 | 4,875.32 | 7,138.13 | 5,185.32 |
| Profit After Tax | 511.78 | 438.85 | 732.58 | 508.91 |
| Net Worth | 1,500.00 | 2,344.95 | 2,129.09 | 1,524.82 |
| Reserves and Surplus | 43.72 | |||
| Total Borrowing | 2,404.25 | 1,535.43 | 1,651.09 | 501.70 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Emmforce Autotech IPO is Rs 200.9 Cr.
KPI as of October 31, 2023.
| KPI | Values |
|---|---|
| RoNW | 2.83 |
| P/BV | 9.52 |
| PAT Margin (%) | 8.42 |
Check Emmforce Autotech IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.93 | 4.28 |
| P/E (x) | 33.5 | 22.9 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of October 31, 2023 that is available in RHP.
Objects of the Issue (Emmforce Autotech IPO Objectives)
The company intends to utilize the net proceeds of the Issue to meet the following objectives:
- Investment in a Subsidiary Company i.e. Emmforce Mobility Solutions Private Limited (EMSPL) in the form of equity or debt for meeting the requirement of working capital and margin money for term loan of the Subsidiary Company.
- To Meet the Working Capital Requirements of the company.
- General Corporate Purpose.
Please note: Financials for October 31, 2023, is the summation of the amount given for October 13, 2023, and October 31, 2023, in the RHP.
Emmforce Autotech Limited Contact Details
Emmforce Autotech Limited
Plot No. 287, Industrial Area,
Phase II Industrial Estate,
Panchkula – 134113
Phone: +91- 9876009999
Email: info@emmforce.com
Website: http://www.emmforce.com/
Emmforce Autotech IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: emmforce.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html