BofA among anchor investors in Emmforce Autotech IPO. All you need to know about Rs 54 cr offer

economictimes.indiatimes.com:

IPO of Emmforce Autotech will open for subscription on Wednesday and will close on April 25. The company aims to raise nearly Rs 54 crore through the SME IPO and list the shares on the BSE SME platform.

Ahead of the issue opening, the company has raised around Rs 15 crore from anchor investors, under which 1.56 million shares were offered at Rs 98 each. Marquee investors including BofA Securities Europe, and Astorne Capital and others bought into the anchor book

Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) About Emmforce Autotech

The company is engaged in the business of manufacturing niche automotive drivetrain parts like differential housings, differential lockers, differential covers, 4WD locking hubs, spindles, axles and shafts, gear shifters, yokes, differential spools, differential tools and various differential forged/cast parts primarily for 4-wheel drive and performance racing vehicles.

2) Industry overview

India’s auto component industry is an important sector driving macroeconomic growth and employment. The industry comprises players of all sizes, from large corporations to micro entities, spread across clusters throughout the country. The auto components industry accounted for 2.3% of India’s GDP and provided direct employment to 1.5 million people.

3) Emmforce Autotech IPO size

The IPO is entirely a fresh equity issue of 54.99 lakh shares and through the issue, the company aims to raise nearly Rs 54 crore.

4) Emmforce Autotech IPO