The IPO has allocated a minimum of 50% of the net issue to qualified institutional buyers (QIBs), 35% of the net issue to retail individual bids and 15% of the net issue to non-institutional bidders.
With sale of 15.66 lakh equity shares at a price of Rs. 98 per share, Amforce Autotech IPO raised Rs 15.34 crore from its anchor investors.
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Also Read: Ammaforce Autotech IPO: Price band, issue size, key dates, other details to know
Astorna Capital VCC Arwen, NAV Capital VCC – NAV Capital Emerging Star Fund, Negain Undiscovered Value Fund, Persistent Growth Fund – Warsu India Growth Story Scheme-1, Moneywise Financial Services Pvt Ltd, LC Radiance Fund VCC, Craft Emerging Markets Fund PCC – Citadel Capital Fund, and Galaxy Noble Global Opportunities Fund PCC – GNGOF1 were among the major investors that subscribed to the anchor book.
The Red Herring Prospectus (RHP) states that the company’s primary line of business is the production of specialist automobile drivetrain parts, mostly for 4WD and high-performance racing cars. These parts include differential housing, differential lock, differential cover, 4WD locking hubs, spindles, axles and shafts, gear shifters, yokes, differential spools and differential tools along with a variety of differential forged and cast parts.
Amforce Autotech IPO Subscription Status
Amforce Autotech IPO subscription position is 19.82 times so far on the first day.
The retail portion has been subscribed 26.86 times, and the NII portion has been booked 28.53 times in Day 1. Qualified Institution Buyers (QIBs) were 99% booked.
The company has received bids for 7,25,10,000 shares against the 36,57,600 shares on offer at 16:23 IST, according to data from Chittorgarh.com.
Amforce Autotech IPO Details
Amforce Autotech IPO, what is it worth? Rs.53.90 crore, consisting of a fresh issue of 5,499,600 equity shares with face value Rs. 10. There is no offer for sale component.
The following are the goals that the firm plans to do with the net proceeds from the issue: A financial commitment made in the form of debt or stock to a subsidiary, such as Emforce Mobility Solutions Private Limited (EMSPL), to be satisfied. The operating capital and margin needs of that business to meet the working capital needs of the company. Corporate objectives in general.
Beeline Capital Advisors Pvt Ltd is the book running lead manager and Link Intime India Pvt Ltd is the registrar for the Amforce Autotech IPO. The market maker for Amforce Autotech’s IPO is Spread X Securities.
amforce autotech ipo gmp today
Amforce Autotech IPO GMP or Gray Market Premium is +100. This indicates that Amforce Autotech’s share price was trading at a premium. 100 in the gray market, according to InvestorGain.com.
Based on the upper end of the IPO pricing range and the current premium on the gray market, the estimated listing price for Amforce Autotech shares is Rs 198 per share, 102.04% more than the IPO price 98.
Gray market activity over the last 13 sessions indicates that IPO GMP is pointing higher and a solid listing is expected today. InvestorGain.com analysts estimate GMP is at an all-time low 0 and maximum GMP is 100.
The ‘grey market premium’ refers to the willingness of investors to pay more than the issue price.
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Published: April 23, 2024, 04:33 PM IST