The Shree OSFM E-Mobility IPO is set to raise Rs 24.60 crores through a fixed price issue of 37.84 lakh fresh shares. Here are the key details of the IPO:
### Shree OSFM E-Mobility IPO Overview:
– **Issue Size:** Rs 24.60 crores (Fresh Issue of 37.84 lakh shares)
– **IPO Dates:** December 14, 2023, to December 18, 2023
– **Allotment Date:** December 19, 2023
– **Listing Date:** December 21, 2023, on NSE SME
– **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)
### Shree OSFM E-Mobility IPO Reservation:
– **Retail Shares Offered:** 50% of the net offer
– **Other Shares Offered:** 50% of the net offer
### Shree OSFM E-Mobility IPO Timeline:
– **IPO Opens:** December 14, 2023
– **IPO Closes:** December 18, 2023
– **Basis of Allotment:** December 19, 2023
– **Refund Initiation:** December 20, 2023
– **Shares Credited to Demat:** December 20, 2023
– **Listing Date:** 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 table below outlines the minimum and maximum investment by retail investors and High Net Worth Individuals (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 | 4000 | ₹260,000 |
### Shree OSFM E-Mobility IPO Promoter Holding:
– **Promoters:** Mr. Ramnath Chandar Patil and Mr. Nitin Bhagirath Shanbhag
– **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 provides transportation services to employees of large multinational companies in major Indian cities. The company operates a fleet of more than 1475 vehicles, including small cars, sedans, SUVs, luxury cars, and buses. The majority of these vehicles are leased from various providers, following an “asset-light” model.
The service portfolio includes Travel Desk Management, Roster management services, Logistics for corporate events (MICE), and Fleet management. Shree OSFM E-Mobility’s clients include JP Morgan, Morgan Stanley, Cape Gemini, Accenture, among others.
### Financial Information (Restated):
– **Revenue Increase (FY22 to FY23):** 168.25%
– **PAT Increase (FY22 to FY23):** 89.88%
– **ROE:** 0.09%
– **ROCE:** 0.21%
– **Debt/Equity:** 0.45
– **EPS (Rs):** 2.94
– **Return on Net Worth (RoNW):** 15.11%
– **Market Cap:** Rs 92.85 Cr
– **P/E (x):** 22.08
### Objects of the Issue:
The net proceeds from the issue will be utilized for the following purposes:
1. Funding additional Working capital requirements
2. Purchase of Passenger Vehicles
3. General Corporate Purposes
### Shree OSFM E-Mobility IPO Review:
[Dilip Davda] The company provides transportation services for the employees of MNCs and other companies. It has shown inconsistency in its bottom lines for the reported periods and also bumper top lines from FY23 onwards. Operating in a fragmented segment, the issue appears to be greedily priced based on FY24 earnings. Investors may consider skipping this pricey issue.For more detailed information, you can refer to the Shree OSFM E-Mobility IPO RHP (Red Herring Prospectus).
