GNA Axles Limited is coming out with an IPO on Sept 14, 2016 to raise Rs. 130 crores from the Indian Capital Markets. The Price band for the same is fixed at Rs. 205 to Rs. 207 per Equity share with a face value of Rs.10 per equity share. The minimum lot size for GNA Axles IPO is fixed at 70 shares. It is proposed to be listed at NSE and BSE after the successful subscription.
The company had filed a draft red herring prospectus (DRHP) to the hit the capital market with an Initial public offering to raise Rs. 130 crore by selling 63 lakh equity shares. Total public issue includes up to 6,100,000 equity shares and an eligible employee reservation portion of up to 200,000 equity shares. Non-institutional bidder will be eligible for 15% of the net issue size, while Approx. 35% will be set for the retails buyers.
The company was established as on September 6, 1993 and based at Jalandhar, India. It is mainly dealing into the business of manufacturing rear axle shafts which is used for commercial vehicles like on highway and off-highway vehicular segments, i.e. for agricultural tractors and machinery, forestry and construction equipments, electric carts and other specialty vehicles used in mining and defense sectors. The company also exports ready solid and hollow spindles which is in the use of axle assembly for the different types of vehicles and equipments specially in the segment of on-highway.
It is established in the domestic and international markets for both on-highway and off-highway segments. Mahindra and Mahindra, John Deere, Tractors and Farm Equipment Limited (“TAFE”), and tier-1 suppliers to OEMs (Original equipment manufacturers) such as Automotive Axles Limited, Meritor HVS AB and Dana Limited are the important customers of the firm. USA, Sweden, Turkey, Brazil, Italy, Germany, Spain, Mexico, Japan, UK, France, China and Australia are the major international buyers for its rear axle shafts, other shafts and spindles. Meritor HVS AB, John Deere, Transaxle Manufacturing of America, Dana Limited and Kubota Corporation are well known overseas customers of the firm. It imports various machinery from Italy, Germany, Japan, China and Taiwan which help for materials testing, forging, heat treatment, machining, induction hardening and packaging.
The company has two manufacturing Units ( ISO/TS 16949: 2009 certified) as below:-
Unit I:- It is based at Mehtiana village district Hoshiarpur, Punjab.
UnitII:- It is based at Gulabgarh Jattan village, district Kapurthala, Punjab.
Annual manufacturing capacity of units is recorded at 2.30 million rear axle shafts, 0.40 million other shafts and 0.30 million spindles as on March 31,2015.
Outlook of the Firm:-
- Well known in India as a leading manufacturer of Axle shafts;
- Introduced different types of products made with Axle shafts and spindles;
- Maintained a consistency in customer relationships;
- Manufacturing Facilities with Large Capacity and Modern Machinery;
- Strong and experienced management team with qualified employees;
- Knowledge of Engineering, Product Development and Technologies;
- Consistent Financial Performance and Strong Financial Position.
Objects Of The Issue: GNA Axles IPO
1) To increase the number of plants and machinery;
2) To fulfill further working requirement of capital;
3) General Corporate purpose.
Summary Of Issue: GNA Axles IPO
|Issue Open:-||Sep 14,2016-Sep 16,2016|
|Issue Type||100% Book Built Issue IPO|
|Issue Size (Shares)||[6,300,000]Equity Shares|
|Issue Size in (Value)||Equity Shares of Rs. 10 aggregating up to Rs.  Crore|
|Face Value||Rs. 10 Per Equity Share|
|Issue Price||Rs. [ 205-207] Per Equity Share|
|Market lots||70 Shares|
|Minimum Order Quantity||70 Shares|
|Listing At||BSE, NSE|
Promoters Of the Company:
1) Jasvinder Singh Seehra:- He is 57 years old. He is the joint managing director of the company.
2) Ranbir Singh:- He is 53 years old. He is the Executive Director and Chief Executive Officers of the company.
3) Gurdeep Singh:- He is 48 years old. He is Non Independent, Non- Executive Director of the Company.
|Particulars||For the year/Period ended (Rs. in Million)|
|Total Equity & Liabilities||4264.62||3718.51||3178.77||2674.52||2339.64|
|Profit After Tax (PAT)||215.98||132.65||48.14||169.34||73.86|
Subscription figs for GNA Axles IPO
Please keep looking this space for subscription information.
GNA Axles IPO Allotment Status
If you have applied for GNA Axles IPO, you may get to know about your allotment on the below given link. The allotment status will be available only after few days of closure of IPO. In this case, it is expected to be Sept 22, 2016 or Sept 23, 2016.
One can check the allotment on the below given link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps
- Click on the given link See Allotment Status here
- Go to Application status
- Select IPO as GNA Axles IPO
- Enter you PAN Number or Application Id or DP Client Id
It takes little time to fetch information so you need to be little patient.
Listing of GNA Axles
The GNA Axles Limited , only after successful subscription and allotment, is expected to be listed on Sept 23, 2016 or Sept 26, 2016
Lead Manager Details for GNA Axles IPO
PNB Investment Services Limited
11th Floor, Dalamal House Nariman Point, Mumbai 400 021
Tel: 022 4347 4031 Fax: 022 2284 0854
Investor grievance e-mail: firstname.lastname@example.org
Contact Person: Vinay Rane
SEBI Registration No.: INM000011617
Ambit Corporate Finance Private Limited
Ambit House 449, Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Tel: 022 3982 1819 Fax: 022 3982 3020
Investor grievance e-mail: Customerservicesmb@ambitpte.com
Contact Person: Sandeep Sharma
SEBI Registration Number: INM000010585
Registrar To The Issue
Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound L.B.S Marg, Bhandup (West), Mumbai 400 0078
Tel: 022 6171 5400 Fax: 022 2596 0329
Investor grievance e-mail: email@example.com
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Registered Office Details:-
GNA House, 1-C, Chhoti Baradari – Part II, Garha Road, Opposite Medical College, Jalandhar 144 001
Corporate Office: VPO Mehtiana, Phagwara-Hoshiarpur Road, District Hoshiarpur 146 001
Tel: 0181 4630 477; Fax: 0181 4630 477
Contact Person: Gourav Jain, Company Secretary and Compliance Officer
Corporate Identity Number: U29130PB1993PLC013684