Endurance Technologies, a Maharashtra-based auto components manufacturer, will hit the primary market on October 5 with its public issue of 24.6 million shares. The company has fixed the price band for the issue at Rs. 467-472 per equity share. The public issue closes on October 7.
The initial public offering (IPO) comprises stake sale by existing investor Actis Components and System Investments Ltd., which is selling 19.3 million shares. The balance constitutes 5.3 million shares being offloaded by promoter Anurag Jain.
Bids can be made for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter.
The shares will be listed on the Bombay Stock Exchange and the National Stock Exchange.
Axis Capital Limited and Citigroup Global Markets India Private Limited are book running lead managers to the Rs. 1,161-crore public issue.
Company snapshot (based on draft prospectus filed with Sebi):
Net profit was Rs. 289.83 crore on sales of Rs. 5,240.55 crore in 2015-16.
For FY2015 and FY2016, revenue from overseas sales was 31.3 percent and 32.5 percent, respectively, of total revenues.
The top two customers are Bajaj Auto and FCA Italy S.p.A and its group companies in Europe.
In FY2015 and FY2016, Bajaj represented 43.19 percent and 40.83 percent of net revenues from operations (including intermediary sales), respectively.
FCA Italy S.p.A. represented 14.20 percent and 15.29 percent of net revenues from operations for FY2015 and FY2016, respectively.
As of March 31, 2016, there were 1,945 employees working for the company.
There are 18 manufacturing facilities in India.