Endurance Technologies IPO

Endurance Technologies IPO

Endurance Technologies logo

Endurance Technologies claims to be the largest two-wheeler and three-wheeler automotive component manufacturer in India. For FY2016, its total revenue contribution from India was 70.1% while Europe accounted for the rest 29.9%.

Its major products in India include aluminum castings, aluminium alloy wheels for motorcycles; suspension products such as shock absorbers, front forks and hydraulic dampers; transmission components such as clutch assemblies, cork and paper-based friction plates, continuous variable transmission assemblies ("CVTs"); brake systems, such as hydraulic disc brake assemblies including calipers, master cylinders and rotary disc brakes and hydraulic drum brake assemblies and tandem master cylinder assemblies; and aftermarket services to cater to the replacement market.

According to the Aluminium Casters' Association of India, Endurance is the number one aluminium die-casting company in India in terms of actual output and installed capacity in FY2016.

In Europe, Endurance Technologies has operations in Italy and Germany with highly-automated manufacturing facilities. The operations predominantly cater to four-wheeler OEMs, focusing on engine and transmission components such as raw and machined aluminium castings (high-pressure and gravity die-casting products) and steel, cast iron and engineering plastic parts.

The company operates 25 plants across India, Italy and Germany. This includes 18 manufacturing plants in India, comprising eight in Aurangabad (Maharashtra), five in Pune (Maharashtra), two in Pantnagar (Uttarakhand) and one each in Manesar (Haryana), Chennai (Tamil Nadu) and Sanand (Gujarat), with three in-house tool rooms.

Endurance Technologies’ largest customers in India are Bajaj Auto Limited, Royal Enfield, Honda Motorcycle and Scooter India Private Limited, and India Yamaha Motor Private Limited. In Europe, its largest customer is Fiat Chrysler and its group companies while it also supplies to Daimler.

Promoter of Endurance Technologies: Anurang Jain

Endurance Technologies IPO details

Subscription Dates 5 – 7 October 2016
Price Band INR467-472 per share
Offer For Sale 24,613,024 shares
Total IPO size 24,613,024 shares
Minimum bid (lot size) 30 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On BSE, NSE

 

Endurance Technologies’ consolidated financial performance (in INR crore)
  FY2012 FY2013 FY2014 FY2015 FY2016
Total revenue 3,831.7 3,822.4 4,211.9 4,916.9 5,240.5
Total expenses 3,599.1 3,610.0 3,959.8 4,589.9 4,860.8
Profit after tax 182.3 169.2 204.4 252.4 289.8

Endurance Technologies Contact Details

Endurance Technologies Ltd 
E-92, MIDC Industrial Area,
Waluj, Aurangabad 431 136

Phone: +91 240 256 9737
Fax: +91 240 255 1700
Email: investors@endurance.co.in
Website: www.endurancegroup.com

Registrar of Endurance Technologies IPO

Link Intime India Private Limited
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai – 400 078
Maharashtra, India

Phone: +91 22 2596 3838
Fax: +91 22 2594 6969
Email: etl.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Endurance Technologies IPO Subscription Details

Category Shares offered

Subscription status (no. of times, at 6 PM)

Day 1 Day 2 Day 3
QIB  4,922,605 0.04 2.88 53.42
NII  3,691,954  0.02 0.21 127.06
Retail  8,614,559  0.21 1.35 2.50
Total  17,229,118  0.12 1.54 43.74

Endurance Technologies IPO Allotment Status

Endurance Technologies IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.

You can also check your IPO allotment status from your mobile at
http://eipo.linkintime.co.in/ipo/ 
http://linkintime.co.in/ipo

LISTING PERFORMANCE OF Endurance Technologies IPO

IPO Opening Date: 5 October 2016

IPO Closing Date: 7 October 2016

Finalisation of Basis of Allotment: 17 October 2016

Initiation of refunds: 18 October 2016

Transfer of shares to demat accounts: 18 October 2016

Listing Date: 19 October 2016

Listing Price on NSE: INR572 per share (return of 21.2% on IPO price)

Closing Price on NSE: INR654.4 per share (return of 38.6% on IPO price)

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37 Comments on "Endurance Technologies IPO"

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Superb listing!!! I’ve placed sell order for both lots at 600. I know experts here are recommending to hold but I thnk pnb housing will also offer good returns on subscribe

What is the latest gmp, at what price it will list?

Bhai padh bhi liya karo comment karne se pehle. GMP 70 so conservative estimate 540

I have got 5 lot..kya karna chahiye..Please guide…Seeking guidance…Mr.Bull_Sinha…

Hold for six months if you don’t need the money immediately. US market good right now so our markets will open positive. I think we should be able to see 560 easily tomorrow and 600 this month. Quality auto stocks will be in demand for the next six months. Plz note this is my opinion, I’m not an analyst.

What is the basis of allotment? Applied for 12 lot but got nothing?

Hi frnds
I first time I had purchased a share how I will come to know that I had got share or not.
Yet not I had received any massage or email .
So plz help me out

check the link above to get the allotment status with pan details. If you get no detail there, contact the bank thru which u applied. Many ppl having with banks as there applications were not filed

Endurance is good for long term…Pls hold the investment…. don’t sell in hurry…. its good auto ancillary company with good fundamentals

I applied for 6 lot at bid 472 got none…. 😢😢😢
Can anyone explain me the procedure of allotment?

Mrf will be 1 lac

This is just bad luck Dolwin. Remember it was subscribed 2.5 times and all applications below 2 lacs are treated equally so much better chances of allotment if applied under 6 different accounts than one application of 6 lots.

I too got allotment in 2 applications out of 4 this time. Good allotment, now eyes on listing and use the money in PNB Housing IPO

Allotment out, I’ve got 2 out of three applications :)))

whats a kostak rate ?

slipped below 60 now but how does that matter? If you have applied then sit tight, if you haven’t then just be happy you are away from a volatile market :))))

I think GMP is around 70 now and kostak nearly 850-900. Don’t sell as chances of allotment better this time. Subscription only 2.5 times…

Agreed sir. I was a little worried about the market and this ipo. I’m still not convinced n think the market will correct this month but have applied two lots in endurance anyway. I’m hoping for a good listing but ready to buy if it lists at a discount like icici Pru

Whats d latest gmp???

Nice show by HNIs at the end, am happy that retailers have subscribed only 2.2 times. Means better allotment

Don’t look at GMP, it is a solid company and has good fundamentals. Apply and you will not regret.

grey premium has come down in endurance to 65 now but kostak rate has gone up as subscription is not very high

What is the latest gmp in endurance???

Anchor investors pile up in this IPO, 24 in total and there are good names. Singapore Govt, Nomura, Goldman Sachs, Merill Lynch and our desi MFs HDFC, SBI, Birla, DSP. Reassuring overall, I’m applying in this IPO.
http://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20161004-48

Endurance is a great business but it comes at a price point that leaves little on the table for IPO investors. If the winds are strong, we can make some money in the IPO, but will be stranded in the middle of an ocean if not. My 2 cents…

Parth Bhai, winds are strong😀

Endurance IPO trading at nearly 75-80 GMP…

Yes, Endurance commands a premium in grey market trades but it will take only a 500 point crack in sensex for this premium to vanish. Have seen this in L&T and ICICI Pru. Seedhi baat, Endurance is not cheap…

Why do talk about 500 point correction? Market is not going down

Look around and you will understand. oil prices are moving up, inflation will also go up. Major issues in IT. Brexit impact is not positive for us. Indo-Pak tensions and earnings not improving. Leave 500, 1000 points correction will also not be a surprise.

Very nice points Darshan, I also feel the market is refusing to factor negative news. Weak rainfall in the end and the coming interest rate increase in US tell me there is a correction due now.

Endurance
PE 22.8
RONW 20%

Bharat Forge
PE 30.8
RONW18.1%

Motherson Sumi
PE 32.8
RONW 30%

Gabriel
PE 22.2
RONW 19.8%

Mahindra CIE
PE 71.9
RONW 4.3%

Munjal Showa
PE 13.4
RONW 13.5%

I have been saying this for a week that pricing is not good for investors in latest IPOs. But this is a good IPO, will generate money for investors.

Price band for Endurance is INR467-472, what is the gmp? is it a good ipo like gna axles???

From peer comparison also it looks good

The link has factually incorrect information. It shows Bharat Forge as bigger than Motherson Sumi…

seems to be good company

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