Shree OSFM E-Mobility IPO is a fixed price issue of Rs 24.60 crores. The issue is entirely a fresh issue of 37.84 lakh shares.
Shree OSFM E-Mobility IPO opens for subscription on December 14, 2023 and closes on December 18, 2023. The allotment for the Shree OSFM E-Mobility IPO is expected to be finalized on Tuesday, December 19, 2023. Shree OSFM E-Mobility IPO will list on NSE SME with tentative listing date fixed as Thursday, December 21, 2023.
Shree OSFM E-Mobility IPO price is ₹65 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹130,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹260,000.
First Overseas Capital Limited is the book running lead manager of the Shree OSFM E-Mobility IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Shree OSFM E-Mobility IPO is Bhh Securities.
Refer to Shree OSFM E-Mobility IPO RHP for detailed information.
Shree OSFM E-Mobility IPO Details
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,784,000 shares (aggregating up to ₹24.60 Cr) |
| Fresh Issue | 3,784,000 shares (aggregating up to ₹24.60 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,500,000 |
| Share holding post issue | 14,284,000 |
| Market Maker portion | 200,000 shares Bhh Securities |
Shree OSFM E-Mobility IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Shree OSFM E-Mobility IPO Timeline (Tentative Schedule)
Shree OSFM E-Mobility IPO opens on December 14, 2023, and closes on December 18, 2023.
| IPO Open Date | Thursday, December 14, 2023 |
| IPO Close Date | Monday, December 18, 2023 |
| Basis of Allotment | Tuesday, December 19, 2023 |
| Initiation of Refunds | Wednesday, December 20, 2023 |
| Credit of Shares to Demat | Wednesday, December 20, 2023 |
| Listing Date | Thursday, December 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 18, 2023 |
Shree OSFM E-Mobility IPO Lot Size
Investors can bid for a minimum of 2000 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 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator |
Shree OSFM E-Mobility IPO Promoter Holding
Mr. Ramnath Chandar Patil and Mr. Nitin Bhagirath Shanbhag are the promoters of the company.
| Share Holding Pre Issue | 76.02% |
| Share Holding Post Issue | 55.88% |
About Shree OSFM E-Mobility Limited
Incorporated in 2006, Shree OSFM E-Mobility Limited, previously known as Om Sai Fleet Management (India) Private Limited, is engaged in providing employee transportation services to large MNCs with a presence across major cities in India.
Shree OSFM operates on an “asset light” engagement model. Typical operating parameters are on a monthly lease, per kilometer, per passenger trip, and package mode. The company has over 1475 fleets. This includes Small cars, Sedans, SUVs, Luxury Cars, and Buses of which 217 vehicles are owned by the company and the rest are leased from various vendors.
The company has offices in 42 sites in cities like Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata. Shree OSFM E-Mobility’s clientele includes JP Morgan, Morgan Stanley, Cape Gemini, Accenture, etc.
Shree OSFM E-Mobility’s service portfolio includes:
- Travel Desk Management
- Roster Management Services
- Logistics for Corporate Events (MICE)
- Fleet Management
The company recorded a total revenue of Rs. 8,261.01 lacs, Rs. 3,079.58 lacs, and Rs. 2,978.51 lacs in fiscal 2023, 2022, and 2021 respectively.
Shree OSFM E-Mobility Limited Financial Information (Restated)
Shree OSFM E-Mobility Limited’s revenue increased by 168.25% and profit after tax (PAT) rose by 89.88% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 5,019.67 | 4,203.97 | 2,588.41 | 2,909.86 |
| Revenue | 5,597.09 | 8,261.01 | 3,079.58 | 2,978.51 |
| Profit After Tax | 222.59 | 309.09 | 162.78 | 73.76 |
| Net Worth | 2,267.95 | 2,045.36 | 1,736.27 | 1,607.99 |
| Reserves and Surplus | 1,217.95 | 995.36 | 1,586.27 | 1,457.99 |
| Total Borrowing | ||||
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 22.08 |
| ROE | 0.09% |
| ROCE | 0.21% |
| Debt/Equity | 0.45 |
| EPS (Rs) | 2.94 |
| RoNW | 15.11% |
Check Shree OSFM E-Mobility IPO Peer Comparison here.
Objects of the Issue (Shree OSFM E-Mobility IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding additional Working capital requirements
- Purchase of Passenger Vehicles
- General Corporate Purposes
Shree OSFM E-Mobility IPO Review (Avoid)
[Dilip Davda] The company is engaged in providing transport services for the employees of the MNCs and other companies. It has posted inconsistency in its bottom lines for the reported periods and also bumper top lines from FY23 onwards. It is operating in fragmented segment. Based on FY24 earnings the issue appears greedily priced. There is no harm in skipping this pricey issue. Read detail review…
Shree OSFM E-Mobility Limited Contact Details
Shree OSFM E-Mobility Limited
104, Green Park, Plot No. 2 & 3,
Sector 3, Opp. Ghansoli Rly Station,
Ghansoli, New Mumbai – 400701
Phone: +91 22 27544431
Email: cs@shreeosfm.com
Website: https://shreeosfm.com/
Shree OSFM E-Mobility IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html