IPO
Auto comp maker Emmforce Autotech’s SME-IPO subscribed 365 times
The initial public offering (IPO) of Baddi, Himachal Pradesh-headquartered auto components manufacturer Emmforce Autotech was subscribed 365 times on the final day of bidding. The INR 53.90 crore IPO received bids for 1,33,27,10,400 shares against 36,57,600 shares on offer. The company manufactures a range of niche automotive drivetrain parts like differential housings, differential lockers, differential covers, 4WD locking hubs etc.The category for Non-Institutional Investors (NII) fetched 862 times subscription, the quota for Retail Individual Investors (RII) subscribed 268 times and the Qualified Institutional Buyer (QIB) portion fetched 161 times subscription.The Initial Public Offer (IPO) had a fresh issue of 54.99 lakh equity shares with a face value of INR 10 each through the book-building route. The IPO had a price range of INR 93-98 a share. Earlier, Emmforce AutoTech had raised INR 15.34 crore from anchor investors.Beeline Capital Advisors Pvt Ltd is the sole book-running lead manager. The shares of the company will be listed on BSE SME.
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