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You are here: IndiaNotes >> Research & Analysis >> IPOs >> Overview

Endurance Technologies IPO

Industry: Auto Ancillaries | Prospectus

What Are Analysts Saying?

Market welcomes Endurance Technologies with Open Hands
Dynamic Equities Pvt Ltd, 19 Oct 2016
Endurance Technologies, the auto component maker on 19th October 2016, Wednesday made a stellar debut on the Bombay Stock Exchange by listing at Rs 570, thereby marking a 20.76 per cent premium to its issue price of Rs 472 a piece.

Endurance Technology Day 2 sees massive subscription of 92%
Dynamic Equities Pvt Ltd, 07 Oct 2016
Day two of Endurance Technologies IPO saw a pickup in subscription after the tepid day 1. The IPO witnessed a 92 per cent subscription. The issue received bids for a massive quantity of 1,58,70,960 shares against 1,72,29,118 shares offered by the company.

Endurance Technologies IPO Subscribed 12% On Day One
Dynamic Equities Pvt Ltd, 06 Oct 2016
Endurance Technologies commenced its Initial Public Offer (IPO) on Wednesday, with the issue receiving bids for about 12 per cent of the issue size by the end of day one of the bidding process.

IPO Note: Endurance Technologies poised attractively - Motilal Oswal
Motilal Oswal, 05 Oct 2016
At a price band of INR 467-472, the issue is priced at 22.8x (post-issue; at upper end) price-earnings (PE) ratio for FY16 consolidated EPS of INR 20.8 which is attractive given its track record, healthy return ratios and robust outlook on automobile industry.

Aditya Trading Solutions recommend to subscribe to the Endurance Technologies IPO
Aditya Trading Solutions, 05 Oct 2016
With a good client base in the market, Endurance Technologies has shown consistent growth in revenue and profitability in its European business.

Issue Details

Open Date: 05 Oct 16 Min Application Amount: Rs. 14010
Close Date: 07 Oct 16 Min bid (No. of shares): 30
Offer Price: Rs. 467 Issue Size: Rs. 1161.73 Cr
Listing Exchanges: BSE, NSE Issue Size (Shares): 24613024

About the Company

"Incorporated in year 2000, Endurance Technologies Ltd is in the business of manufacturing two-wheeler and three-wheeler automotive component. Information in this paragraph is provided by chittorgarh.com, India's No. 1 IPO Investment Portal.Endurance Tech also manufacture specified components for four-wheeler passenger vehicles, light commercial vehicles and heavy commercial vehicles.

Endurance Tech is the complete solutions provider, providing end-to-end services by engaging its customers from conception to end-user delivery. Visit chittorgarh.com for more detail.Company's development process includes design, development, validation, testing, manufacturing, delivery and aftermarket sale service for a wide range of technology-intensive auto component products.

Endurance Tech have 25 plants across India, Italy and Germany. Company have 18 manufacturing plants in India, located in the major automotive manufacturing belts of the country, comprising 8 in Aurangabad (Maharashtra), 5 in Pune (Maharashtra), 2 in Pantnagar (Uttarakhand) and 1 each in Manesar (Haryana), Chennai (Tamil Nadu) and Sanand (Gujarat).

Endurance also have 2 manufacturing facilities in Germany and 5 in Italy. In Europe, company predominantly cater to four-wheeler OEMs (original equipment manufacturer), focusing on engine and transmission components.

Key Highlights:
1. Company is largest two-wheeler and three-wheeler automotive component manufacturer in India in terms of aggregate revenue.
2. Company is largest aluminum die-casting company in India in terms of actual output and installed capacity.
3. Total revenue contribution from India is over 70% and 30% from Europe.
4. Company's long-term bank facilities are rated CRISIL AA-/Stable and short-term bank facilities are rated CRISIL A1+."

Objective of the Issue

"Objects of the Issue:

The objects of the Offer are :
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. To carry out the Offer for Sale."