The subscription status of the Emmforce Autotech IPO, as of April 23, 2024, 1:47:05 PM (Day 1), indicates robust demand, with the IPO subscribed 9.91 times overall. Notably, the retail category leads with a subscription rate of 14.25 times, followed by the NII (Non-Institutional Investors) category at 11.70 times. However, the subscription rate remains at 0.98 times for the QIB (Qualified Institutional Buyers) category.
Here’s a detailed breakdown of the subscription status:
– **QIB Category:** The subscription rate in this category stands at 0.98 times, with 10,20,000 shares bid for out of the total 10,45,200 shares offered.
– **NII Category:** Non-Institutional Investors have shown significant interest, bidding for 91,69,200 shares out of the total 7,83,600 shares offered, resulting in a subscription rate of 11.70 times.
– **Retail Category:** Retail investors have demonstrated remarkable enthusiasm, bidding for 2,60,61,600 shares against the 18,28,800 shares offered, resulting in a subscription rate of 14.25 times.
The total number of shares bid for across all categories amounts to 3,62,50,800, against the total shares offered of 36,57,600. This translates to a total application count of 26,093.
Emmforce Autotech Limited, established in 2012, specializes in the manufacturing and export of drivetrain parts for niche vehicles. Their product range includes a variety of drivetrain components such as 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 primarily catering to 4WD and high-performance racing vehicles.
The company’s competitive strengths lie in its engineering excellence, evidenced by in-house research, design and development capabilities, and comprehensive knowledge of diverse materials and processes. Moreover, Emmforce Autotech offers a one-stop solution for drivetrain parts and maintains strict quality standards throughout its operations to ensure customer satisfaction.
The Emmforce Autotech IPO, valued at Rs 53.90 crores, comprises entirely fresh issue shares totaling 55 lakh. With a price band set at ₹93 to ₹98 per share, the minimum lot size for application is 1200 shares, requiring a minimum investment of ₹117,600 for retail investors and ₹235,200 for HNIs.
Beeline Capital Advisors Pvt Ltd serves as the book running lead manager for the IPO, with Link Intime India Private Ltd appointed as the registrar. Spread X Securities has been assigned as the market maker for the Emmforce Autotech IPO.
