The GNA Axles IPO is a book-built offering for Rs 130.41 crore. The offering is wholly new, consisting of 0.63 crore shares. Bidding for the GNA Axles IPO began on September 14, 2016 and finished on September 16, 2016. On Wednesday, September 21, 2016, the allotment for the GNA Axles IPO was completed. On September 26, 2016, the shares were listed on the BSE and NSE. The IPO price range for GNA Axles is set at 205 to 207 per share. An application requires a minimum lot size of 70 shares. Retail investors must make a minimum investment of $14,490.
G N A Axles Ltd., founded in 1993, is a Punjab-based manufacturer of rear axle shafts, other shafts, and spindles used in on-highway and off-highway automotive segments in India. The company primarily produces and sells car components for the four-wheeler industry. This paragraph contains information supplied by chittorgarh.com, India’s No. 1 IPO Investment Portal. In 2016, GNA Axles produced over 2.26 million components. GNA Axles has a large customer base in both the on-highway and off-highway categories, with customers in both India and
abroad. The company manufactures and sells rear axle shafts, other shafts and spindles for on-highway vehicles such as light commercial vehicles, medium commercial vehicles and heavy commercial vehicles, as well as other transportation vehicles such as buses. It also provides a variety of rear axle shafts and other shafts for off-highway applications such as agricultural tractors and machinery, forestry and construction equipment, electric carts and other specialty vehicles used in the mining and defense sectors. For additional information, go to chittorgarh.com. In fiscal 2016, GNA Axles’ domestic and export sales accounted for 45.29% and 54.71% of revenue, respectively.
GNA Axles exports to nations such as 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 in the village of Mehtiana in the district of Hoshiarpur, Punjab, and Unit II in the hamlet of Gulabgarh Jattan in the district of Kapurthala, Punjab. Both of its manufacturing facilities are ISO/TS 16949:2009 accredited for the production of automobile rear axle shafts, other shafts, and spindles. Competitive Strengths
- Among the Leading Manufacturers of Axle Shafts in India
- Diverse Product Range of Axle Shafts and Spindles
- Strong long-term Term relationships and a diverse Base
- Manufacturing Facilities with Large Capacity and Modern Machinery
- Experienced Management and a skilled employee base
- Strong Engineering, Product Development and Technological Capabilities
- Sustained Financial Performance and a strong financial position
GNA Axles IPO Details
|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|
GNA Axles IPO Timeline
|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|
GNA Axles IPO Reservation
|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 Lot Size
Objects of the Issue (GNA Axles IPO Objectives)
The object of the issue is to:
- Purchase of plant and machinery;
- To meet working capital requirements; and
- General corporate purposes.
GNA Axles IPO Listing Details
|Listing Date||September 26, 2016|
|BSE Script Code||540124|
|Final Issue Price||₹207 per share|
GNA Axles Listing Day Trading Information
|Final Issue Price||₹207.00||₹207.00|
G N A Axles IPO FAQs
Q1. What is the GNA Axles IPO?
Ans. GNA Axles IPO is a main-board IPO of 6,300,000 equity shares with a face value of ₹10, aggregating up to ₹130.41 crore. 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.
Q2. When GNA Axles IPO will open?
Ans. The GNA Axles IPO opens on September 14, 2016 and closes on September 16, 2016.
Q3. What is the lot size of the GNA Axles IPO?
Ans. GNA Axles IPO lot size is 70 Shares, and the minimum amount required is ₹14,490.
Q4. When is the GNA Axles IPO listing date?
Ans. The GNA Axles IPO listing date is on September 26, 2016.