About Company’s Business:
The company is an engineering-driven manufacturer specializing in the production of safety-critical, heavy-forged, and highly precision-machined components. Our manufacturing expertise encompasses a diverse range of products, including crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, planetary carriers, suspension brackets, and valve bodies. These products cater to various industries, serving a broad and varied customer base. In the automotive sector, we provide components for domestic and global original equipment manufacturers producing commercial vehicles. In the non-automotive sector, our offerings extend to manufacturers of farm equipment, off-highway vehicles, and industrial machinery for sectors such as oil and gas, power generation, railways, and wind turbine industries.
About the Industry:
The global markets for forging and machining are projected to have a value of around USD 71.9 billion and USD 52.5 billion, respectively, in 2023. It is anticipated that these markets will experience a Compound Annual Growth Rate (CAGR) of 5.1% and 5.2%, leading to an estimated valuation of USD 97.0 billion and USD 71.2 billion by 2029, according to the Ricardo Report. In India, the forging and machining markets are estimated to be valued at approximately USD 7.3 billion and USD 5.4 billion, respectively, in Fiscal 2024. Further growth is expected, with a CAGR of 7.1% and 8.4%, reaching USD 10.2 billion and USD 8.0 billion by Fiscal 2029, respectively.
Key Financial Information (â‚ą in millions):
| Particulars | As at and for the Six Months Ended Sep 30, 2023 | Six Months Ended Sep 30, 2022 | Fiscal Ended Mar 31, 2023 | Fiscal Ended Mar 31, 2022 | Fiscal Ended Mar 31, 2021 |
|---|---|---|---|---|---|
| Equity Share Capital | 179.00 | 179.00 | 179.00 | 179.00 | 89.50 |
| Net Worth | 11,033.34 | 9,047.25 | 9,883.06 | 7,876.24 | 6,451.59 |
| Revenue from Operations | 6,729.00 | 5,998.00 | 11,965.30 | 8,600.46 | 5,849.58 |
| Restated Profit for the Period/Year | 1,192.99 | 1,163.97 | 2,087.01 | 1,422.89 | 864.48 |
| Earnings per Share (Basic) | 13.33 | 13.01 | 23.32 | 15.90 | 9.66 |
| Earnings per Share (Diluted) | 13.33 | 13.01 | 23.32 | 15.90 | 9.66 |
| Net Asset Value per Equity Share | 123.28 | 101.09 | 110.43 | 88.00 | 72.09 |
| Total Borrowings | 2,589.74 | 2,623.44 | 2,185.16 | 2,403.52 | 1,534.70 |
Objective of the Issue:
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Purchase of equipment, plant and machinery;
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Prepayment of all or a portion of certain outstanding borrowings availed by our Company;
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General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Tuesday, December 19, 2023 |
| Close Date | Thursday, December 21, 2023 |
| Issue Size | â‚ą102.94 crores |
| Price | â‚ą808 to â‚ą850 per share |
| Lot Size | 17 Shares |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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