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GNA Axles IPO is a book built issue of Rs 130.41 crores. The issue is entirely a fresh issue of 0.63 crore shares.
GNA Axles IPO bidding started from September 14, 2016 and ended on September 16, 2016. The allotment for GNA Axles IPO was finalized on Wednesday, September 21, 2016. The shares got listed on BSE, NSE on September 26, 2016.
GNA Axles IPO price band is set at ₹205 to ₹207 per share. The minimum lot size for an application is 70 Shares. The minimum amount of investment required by retail investors is ₹14,490.
Ambit Private Limited and Pnb Investment Services Ltd are the book running lead managers of the GNA Axles IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to GNA Axles IPO RHP for detailed information.
| IPO Date | September 14, 2016 to September 16, 2016 |
| Listing Date | September 26, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹205 to ₹207 per share |
| Lot Size | 70 Shares |
| Total Issue Size | 6,300,000 shares (aggregating up to ₹130.41 Cr) |
| Fresh Issue | 6,300,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 15,165,400 |
| Share holding post issue | 21,465,400 |
GNA Axles IPO offers 4,470,000 shares. 1,220,000 (27.29%) to QIB, 915,000 (20.47%) to NII, 2,135,000 (47.76%) to RII, 200,000 (4.47%) to employees. 30,500 RIIs will receive minimum 70 shares and (sNII) and (bNII) will receive minimum 980 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 1,220,000 (27.29%) | NA |
| NII (HNI) Shares Offered | 915,000 (20.47%) | |
| Retail Shares Offered | 2,135,000 (47.76%) | 30,500 |
| Employee Shares Offered | 200,000 (4.47%) | NA |
| Total Shares Offered | 4,470,000 (100%) |
GNA Axles IPO opens on September 14, 2016, and closes on September 16, 2016.
| IPO Open Date | Wednesday, September 14, 2016 |
| IPO Close Date | Friday, September 16, 2016 |
| Basis of Allotment | Wednesday, September 21, 2016 |
| Initiation of Refunds | Thursday, September 22, 2016 |
| Credit of Shares to Demat | Friday, September 23, 2016 |
| Listing Date | Monday, September 26, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 16, 2016 |
Investors can bid for a minimum of 70 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹14,490 |
| Retail (Max) | 13 | 910 | ₹188,370 |
| Lot Size Calculator | |||
Incorporate in 1993, G N A Axles Ltd is Punjab based manufacturers of rear axle shafts, other shafts and spindles used in on-highway and off-highway vehicular segments in India. Company mainly engaged in manufactures and sells auto components for the four-wheeler industry. Information in this paragraph is provided by chittorgarh.com, India's No. 1 IPO Investment Portal. GNA Axles made over 2.26 million components in 2016.
GNA Axles has broad customer base for both the on-highway and off-highway segments and their customers are based in India and overseas. The company manufactures and supplies a range of rear axle shafts, other shafts, and spindles for the on-highway segment vehicles, including light commercial vehicles, medium commercial vehicles, and heavy commercial vehicles, as well as other transport vehicles, such as buses. It also offers a range of rear axle shafts and other shafts for the off-highway segment, which include agricultural tractors and machinery, forestry and construction equipment, electric carts, and other specialty vehicles used in mining and defense sectors. Visit chittorgarh.com for more detail. In Fiscal 2016, GNA Axles domestic sales and export sales constituted 45.29% and 54.71% of revenue.
GNA Axles exports their products to various countries, including the United States, Sweden, Turkey, Brazil, Italy, Germany, Spain, Mexico, Japan, the United Kingdom, France, China, and Australia. They 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 its manufacturing facilities are ISO/TS 16949:2009 certified for manufacture of rear axle shafts, other shafts and spindles for automotive applications.
Competitive Strengths
1. Among the Leading Manufacturers of Axle Shafts in India
2. Diverse Product Range of Axle Shafts and Spindles
3. Strong Long Term Customer Relationships and Diversified Customer Base
4. Manufacturing Facilities with Large Capacity and Modern Machinery
5. Experienced Management and Skilled Employee Base
6. Strong Engineering, Product Development and Technological Capabilities
7. Sustained Financial Performance and Strong Financial Position
| Particulars | For the year/period ended (in Rs. Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Assets | 4,465.32 | 4,264.62 | 3,818.51 | 3,178.77 | 2,674.52 |
| Total Revenue | 5,089.43 | 4,306.44 | 4,042.48 | 3,490.51 | 3,986.66 |
| Profit After Tax (PAT) | 259.56 | 215.98 | 132.65 | 48.14 | 169.34 |
The object of the issue are to:
1. Purchase of plant and machinery;
2. To meet working capital requirements; and
3. General corporate purposes.
[Dilip Davda] Listing of the company will be in T group and hence speculative movement is ruled out. However, considering its niche play with rising top and bottom line and major thrust on exports, long term investors may consider investment in this issue. Read detail review...
The GNA Axles IPO is subscribed 54.88 times on September 16, 2016 7:00:00 PM. The public issue subscribed 11.84 times in the retail category, 17.18 times in the QIB category, and 217.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 17.18 |
| NII | 217.47 |
| Retail | 11.84 |
| Employee | 0.31 |
| Total | 54.88 |
| Listing Date | September 26, 2016 |
| BSE Script Code | 540124 |
| NSE Symbol | GNA |
| ISIN | INE934S01014 |
| Final Issue Price | ₹207 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹207.00 |
| ₹248.50 |
| ₹242.20 |
| ₹260.00 |
| ₹245.15 |
| NSE |
|---|
| ₹207.00 |
| ₹252.00 |
| ₹242.20 |
| ₹261.80 |
| ₹245.05 |
G N A Axles Ltd
GNA House, 1-C, Chhoti Baradari - Part II,
Garha Road, Opposite Medical College,
Jalandhar 144 001
Phone: 0181 4630 477
Email: gjain@gnagroup.com
Website: http://www.gnagroup.com
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: gna.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
GNA Axles IPO is a main-board IPO of 6,300,000 equity shares of the face value of ₹10 aggregating up to ₹130.41 Crores. The issue is priced at ₹205 to ₹207 per share. The minimum order quantity is 70 Shares.
The IPO opens on September 14, 2016, and closes on September 16, 2016.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The GNA Axles IPO opens on September 14, 2016 and closes on September 16, 2016.
GNA Axles IPO lot size is 70 Shares, and the minimum amount required is ₹14,490.
You can apply in GNA Axles IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for GNA Axles IPO will be done on Wednesday, September 21, 2016, and the allotted shares will be credited to your demat account by Friday, September 23, 2016. Check the GNA Axles IPO allotment status.
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