Emmforce Autotech IPO (Image Source: iStockphoto)
Emmforce Autotech Limited, a leading manufacturer and exporter of drivetrain parts for specialized vehicles, is gearing up for its Initial Public Offering (IPO) with a fresh issue of 55 lakh shares, aiming to raise Rs 53.90 crores.
Emmforce Autotech Limited IPO Subscription Window
Emmforce Autotech Limited IPO opens for subscription on April 23, 2024, and it will close on April 25, 2024.
Emmforce Autotech IPO Allotment Date
Emmforce Autotech’s IPO is likely to be allotted on April 26, 2024.
Emmforce Autotech IPO Listing Date
Emmforce Autotech’s IPO is anticipated to debut on the BSE SME platform, with a tentative listing date set for April 30, 2024.
Emmforce Autotech Limited IPO Price Band
Emmforce Autotech Limited IPO has a price band of Rs 93 to Rs 98 per share. The investors eyeing a stake in the IPO will need to comply with a minimum lot size requirement of 1200 shares, necessitating a minimum investment of Rs 117,600 for retail investors. High Net Worth Individuals (HNIs) are expected to invest in a minimum of 2 lots, totaling 2400 shares and amounting to Rs 235,200.
Emmforce Autotech Limited IPO GMP
As per multiple websites that track the grey market premium activities, the shares of Emmforce Autotech Limited IPO are commanding a GMP in the price range of Rs 80 – Rs 90 in the unlisted market.
Beeline Capital Advisors Pvt Ltd are serving as the book running lead manager for the IPO, overseeing the subscription process. Meanwhile, Link Intime India Private Ltd is appointed as the registrar, managing the allotment process. Spread X Securities is designated as the market maker for the IPO.
Emmforce Autotech’s product portfolio boasts a comprehensive range of drivetrain components, including differential housings, locks, covers, 4WD locking hubs, axles, and shafts, catering primarily to 4WD and high-performance racing vehicles. The company’s competitive edge lies in its engineering prowess, facilitated by in-house research, design, and development capabilities.
The net proceeds from the IPO are earmarked for strategic purposes, including investment in Emmforce Mobility Solutions Private Limited (EMSPL), a subsidiary, to bolster its working capital and margin money for term loan requirements. Additionally, funds will be allocated to meet the working capital needs of Emmforce Autotech and for general corporate purposes.
With its strong product offerings, robust engineering capabilities, and strategic investment plans, the company aims to leverage the IPO proceeds to fuel its growth trajectory in the niche drivetrain parts segment.
