Emmforce Autotech Limited IPO Allotment Status

The Emmforce Autotech IPO allotment is slated for April 26, and subscriptions are being accepted from April 23 to April 25, 2024. Shares have a face value of ₹10 and are priced between ₹93 and ₹98. Investors may place bids in lots of 1200 shares.

Emmforce Autotech Limited IPO Details

Emmforce Autotech Limited, established in 2012, manufactures and exports drivetrain components for speciality vehicles. The company offers a range of forged and cast differential parts, primarily for 4WD and high-performance racing vehicles. Emmforce Autotech is offering 55 lakh shares valued at Rs 53.90 crores in a fresh offering. 

The IPO will go live for subscriptions on April 23, 2024, and end on April 25, 2024. The allocation is expected to be completed on April 26, 2024. The IPO will be public on BSE SME on April 30, 2024. Applications require a minimum lot size of 1200 shares, with ordinary investors contributing ₹117,600 and HNIs investing 2 lots (2,400 shares). Spread X Securities is the market maker, Link Intime India Private Ltd is the registrant, and Beeline Capital Advisors Pvt Ltd is the book-running lead manager. 

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Emmforce Autotech IPO Subscription Status

An IPO by Emmforce Autotech saw offers for 7,25,10,000 shares, which was 19.82 times oversubscribed. While QIBs attained 99% subscription, the retail and NII sections subscribed 26.86 and 28.53 times, respectively.

How to check IPO Allotment Status?

To verify the Emmforce Autotech IPO allocation status on the BSE website, follow these steps:

  • Step 1: Go to the BSE website.
  • Step 2: From the options, choose 'Equity' under the Issue Type.
  • Step 3: Select 'Emmforce Autotech limited' from the drop-down menu.
  • Step 4: Enter your Application Number or PAN.
  • Step 5: Complete the captcha verification by clicking on 'I am not a Robot', then click on 'Submit'.

To check the Emmforce Autotech IPO allotment status on the Link Intime India website, follow these steps: 

  • Step 1: Visit the IPO registrar's website, Link Intime India.
  • Step 2: From the Select Company dropdown menu, choose 'Emmforce Autotech'.
  • Step 3: Select your preferred identification option from PAN, Application Number, DP/Client ID, or 
  • Account Number/IFSC.
  • Step 4: Enter the corresponding details based on your selection.
  • Step 5: Click on the 'Submit' button.

Your Emmforce Autotech IPO allotment status will then be displayed on the screen.

Emmforce Autotech IPO Details

Details

Value

IPO DateApril 23-25, 2024
Listing DateTuesday, April 30, 2024
Face Value₹10 per share
Price Band₹93 to ₹98 per share
Lot Size1200 Shares
Total Issue Size5,499,600 shares (₹53.90 Cr)
Fresh Issue5,499,600 shares (₹53.90 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE SME
Shareholding Pre-Issue15,000,000 shares
Shareholding Post-Issue20,499,600 shares
Market Maker Portion276,000 shares
Lead ManagerSpread X Securities

Emmforce Autotech IPO Promoter Holding

The company's promoters are Mr. Ashok Mehta, Mrs. Neetu Mehta, and Mr. Azeez Mehta.

Share Holding Pre-Issue100.00%
Share Holding Post Issue73.17%

Emmforce Autotech IPO Anchor Investors Details 

Anchor investors contribute Rs 15.35 crore to the Emmforce Autotech IPO. The anchor bid date for the Emmforce Autotech IPO is April 22, 2024. Top investors on the Emmforce Autotech IPO list

Bid DateApril 22, 2024
Shares Offered1,566,000
1,566,00015.35
Anchor lock-in period end date for 50% sharesMay 26, 2024
End date of the anchor lock-in period for the remaining sharesJuly 25, 2024

About the Emmforce Autotech Company

Emmforce Autotech Ltd. (EAL) is a leading manufacturer of niche automotive drivetrain parts, including differential housings, lockers, covers, and other components for 4-wheel drive and performance racing vehicles. The company has been exporting since its inception and has established itself as a one-stop shop for quality, cost-competitive drivetrain parts in India. With a large inventory of tooling for forging and machining, jigs, and fixtures, EAL has an edge over competitors in developing new parts faster. The company accelerates performance and profitability through faster product development, shorter lead times, on-time delivery, comprehensive product range, and competitive pricing. 

EAL offers fully integrated engineering solutions from conceptualisation, development, validation, and implementation to the manufacturing of products. The conceptualisation stage involves acquiring market intelligence, assessing customer requirements, formulating customised strategies, and implementing product design, material procurement, and processing. The company has in-house manufacturing competencies in forging, machining, fabrications, heat treatment, surface finish, logistics, quality and testing, design, and validation.

Financial Performance of Emmforce Autotech

  • The company has reported a total income/net profit of Rs. 51.85 cr. / Rs. 5.09 cr. in the last three fiscals, with a net profit of Rs. 5.12 cr. in the 7M of FY24 ended on October 31, 2023. 
  • The company has seen degrowth in its top and bottom lines for FY23, but appears to be back on track with its first seven months' performance for FY24.  
  • The company derives over 98% of its revenue from exports, with growth in top and bottom lines for FY21 and FY22 due to higher demand and bulk inventory purchases by global clients. However, FY23 marked a minor setback due to piled up inventory.  
  • The company enjoys a niche position in 4WD locking hub equipment, contributing over 45% to total turnover. Based on its NAV, the issue is priced at a P/BV of 9.52 of Rs. 10.29 as of October 31, 2023, and at a P/BV of 2.90 based on its post-IPO NAV of Rs. 33.82 per share. 
  • PAT margins for the firm are as follows: 10.09% in FY21, 10.61% in FY22, 9.60% in FY23, and 8.42% (7M-FY24).

Disclaimer - The information provided above, regarding the Emmforce Autotech Limited IPO details, is solely intended for study purposes and is accurate as of April 23, 2024. Before making any investment decisions, it is strongly advised to conduct thorough research and consult with a financial advisor to ensure suitability and understanding of potential risks associated with the investment. The provided information may be subject to change, and no guarantees are made regarding its accuracy or completeness.