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GNA Axles Limited IPO was Established in 1993, Company is today among the leading manufacturers of rear axle shafts used in on-highway and off-highway vehicular segments in India (Source: CRISIL Report). Since its first supplies in 1995 and its first exports in 2002-2003, Company have grown to production levels of more than 1.97 million components in Fiscal 2015. Company manufacture and supply a diverse range of rear axle shafts, other shafts and spindles for the on-highway segment, i.e. for light commercial vehicles (“LCVsâ€), medium commercial vehicles (“MCVsâ€) and heavy commercial vehicles (“HCVsâ€) and other transport vehicles such as buses. Company also manufacture and supply a diverse range of rear axle shafts and other shafts for the off-highway segment, i.e. for agricultural tractors and machinery, forestry and construction equipment’s, electric carts and other specialty vehicles used in mining and defense sectors.
Company also manufacture solid and hollow spindles used in the axle assembly for various vehicles and equipment’s in the on-highway segment which Company supply to its export customers. Company have a broad customer base for both the on-highway and off-highway segments and its customers are based in India and overseas. Companies customers primarily include original equipment manufacturers (“OEMsâ€) such as Mahindra & Mahindra Limited, John Deere, Tractors and Farm Equipment Limited (“TAFEâ€), and tier-1 suppliers to OEMs such as Automotive Axles Limited, Meritor HVS AB and Dana Limited.
In Fiscal 2015, Companies domestic sales and export sales constituted 51.67% and 48.33% of its revenue from operations, respectively. Company also export rear axle shafts, other shafts and spindles to various countries including USA, Sweden, Turkey, Brazil, Italy, Germany, Spain, Mexico, Japan, UK, France, China and Australia. Companies major global customers include Meritor HVS AB, John Deere, Transaxle Manufacturing of America, Dana Limited and Kubota Corporation.
Company have two manufacturing facilities: Unit I located in village Mehtiana, district Hoshiarpur, Punjab and Unit II located at village Gulabgarh Jattan, district Kapurthala, Punjab. Both of manufacturing facilities are ISO/TS 16949:2009 certified for manufacture of rear axle shafts, other shafts and spindles for automotive applications. As of March 31, 2015, Companies manufacturing units have a total annual manufacturing capacity of 2.30 million rear axle shafts, 0.40 million other shafts and 0.30 million spindles.
Company promoters have an average of 28 years of experience in the engineering and auto component manufacturing sector. They have been on the Board of the Company since its inception in 1993 and have played a pivotal role in the innovation, success and growth of the Company.
Offer Period
Offer Opens : Wednesday, September 14, 2016
Offer Closes : Friday, September 16, 2016
BRLM
PNB Investment Services Ltd and Ambit Corporate Fin Pvt Ltd
Price Band
Rs.205/- to Rs.207/- per equity share
Bid Lot
70 Equity shares & multiple of 70 equity shares thereafter
Prospectus Link:
http://www.kotaksecurities.com/pdf/ipo/GNA-Axels-Limited-IPO-Prospectus.pdf
Issue Size overall
Public Issue of 63,00,000 Equity Shares (Employee Portion: 200,000 Equity Shares & Net Issue 61,00,000 Equity Shares)
(Net Issue size: Rs.125.05 crs @ lower price band & Rs.126.27 crs @ upper price band)
Face Value:
Rs.10/- each
Employee Portion
Rs.4.10 crs @ lower price band & Rs.4.14 crs @ upper price band
QIB (including Anchor)
50% of the Offer (Rs.62.53 crs @ lower price band & Rs.63.14 crs @ upper price band)
NIB
15% of the Offer (Rs.18.76 crs @ lower price band & Rs.18.94 crs @ upper price band)
Retail
35% of the Offer (Rs.43.77 crs @ lower price band & Rs.44.19 crs @ upper price band)
Mode of Payment
ASBA Mandatory (No Cheque will be accepted)
Registrar
Link Intime India Private. Ltd.
Listing
NSE and BSE
*Anchor bidding on 13th September 2016 Tuesday.
Zerodha (Trading & Demat Account)
RHP
IPO Mentor (500+ Posts, 400+ Likes)
