About Company’s Business:
The company is a prominent global engineering services provider that specializes in offering product development and digital solutions, including turnkey solutions, to original equipment manufacturers and their Tier 1 suppliers worldwide, as noted in the Zinnov Report. With a rich history spanning over two decades, the company possesses extensive domain expertise in the automotive industry. This expertise is applied not only in serving clients within the automotive sector but also extends to adjacent industries such as aerospace, transportation, and construction heavy machinery (“TCHM”). The company employs a globally distributed execution model, effectively utilizing the skills and capabilities of its worldwide workforce. This approach ensures a strategic balance between onshore client proximity and offshore efficiency, ultimately delivering enhanced value to its clients.
About the Industry:
We operate in the global engineering, research and development (“ER&D”) services industry, primarily across automotive, aerospace and TCHM verticals. The global ER&D spend for 2022 was approximately $1.81 trillion and is expected to grow to approximately $2.67 trillion by 2026. The ER&D spend outsourced to third party service providers reached $105-$110 billion in 2022 and is anticipated to grow at a 11-13% CAGR between 2022 and 2026. The key growth drivers within the ER&D market include an increasing propensity to outsource, increasing regulatory interventions for safer and cleaner products, shrinking product innovation cycles and next-generation product technologies.
Here is the tabulated data with values in ₹ million:
| Particulars | As of Sep 30, 2023 | As of Sep 30, 2022 | As of Mar 31, 2023 | As of Mar 31, 2022 | As of Mar 31, 2021 |
|---|---|---|---|---|---|
| Equity Share Capital (₹)# | 811.34 | 405.67 | 811.34 | 418.07 | 418.07 |
| Net Worth (₹) | 28,531.27 | 24,818.84 | 29,894.71 | 22,801.61 | 21,421.54 |
| Total Income (₹) | 25,874.24 | 19,103.90 | 45,019.29 | 35,783.82 | 24,257.38 |
| Profit for the Period/Year (₹) | 3,519.01 | 2,590.61 | 6,240.37 | 4,369.91 | 2,391.73 |
| Basic Earnings per Equity Share (₹)$ | 8.67@ | 6.39@ | 15.38 | 10.77 | 5.89 |
| Diluted Earnings per Equity Share (₹)$ | 8.67@ | 6.39@ | 15.37 | 10.77 | 5.89 |
| Return on Net Worth (%) | 12.33@ | 10.44@ | 20.87 | 19.16 | 11.17 |
| Net Asset Value per Equity Share (Basic) (₹) | 70.33 | 61.18 | 73.68 | 56.19 | 52.79 |
| Net Asset Value per Equity Share (Diluted) (₹) | 70.27 | 61.18 | 73.65 | 56.19 | 52.79 |
| Total Borrowings (as per balance sheet) | - | - | - | - | - |
Note:
“#” indicates the face value of ₹ 2 each for Equity Share Capital.
“$” indicates figures related to earnings per equity share that may have rounding or other clarifications (indicated by “@”).
Objective of the Issue:
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Achieve the benefits of listing the Equity Shares on the Stock Exchanges
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Carry out the Offer for Sale of up to 60,850,278 Equity Shares by the Selling Shareholders
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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 | Wednesday, November 22, 2023 |
| Close Date | Friday, November 24, 2023 |
| Issue Size | ₹3,042.51 Crores |
| Price | ₹475 to ₹500 per share |
| Lot Size | 30 Shares |
| Basis of Allotment | Thursday, November 30, 2023 |
| Initiation of Refunds | Friday, December 1, 2023 |
| Credit of Shares to Demat | Monday, December 4, 2023 |
| Listing Date | Tuesday, December 5, 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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