GNA Axles IPO

GNA Axles IPO

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GNA Axles logoGNA Axles IPO

GNA Axles Limited is among the leading manufacturers of rear axle shafts used in on-highway and off-highway vehicle segments in India. GNA Axles manufactures and supplies a wide range of rear axle shafts, other shafts, and spindles for the on-highway segment, i.e. for light, medium & heavy commercial vehicles and other transport vehicles such as buses. The company also produces and supplies a diverse range of rear axle shafts and other shafts for the off-highway segment which includes agricultural tractors and machinery, forestry and construction equipment, electric carts and other specialty vehicles used in mining and defense sectors. GNA also manufacture solid and hollow spindles used in the axle assembly for various vehicles and equipment in the on-highway segment, primarily for export customers.
GNA Axles has a broad customer base for both the on-highway and off-highway segments and the company’s customers are based in India and overseas. The company’s biggest customers include original equipment manufacturers (OEMs) such as John Deere, Mahindra & Mahindra (M&M), Tractors and Farm Equipment Limited (TAFE) as well as tier-1 suppliers to OEMs such as Automotive Axles Limited, Meritor HVS AB and Dana Limited.
The company has two manufacturing plants in districts Hoshiarpur and Kapurthala in Punjab.
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Subscription Dates14 – 16 September 2016
Price BandINR205 – 207 per share
Fresh Issue Size6,300,000 shares
Total IPO size6,300,000 shares
Minimum bid (lot size)70 shares
Face Value INR10 per share
Retail Allocation35%
Listing OnBSE, NSE
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Fresh issue sizeINR130 crore
Purchase of plant and machinery INR80.07 crore
Working capital requirementsINR35 crore
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Name of shareholderEquity SharesPercentage (%)
Jasvinder Singh Seehra2,630,40017.34
Ranbir Singh2,630,40017.34
Gurdeep Singh2,630,40017.34
Maninder Singh2,630,40017.34
Rachhpall Singh1,790,40011.81
Gursaran Singh1,365,4009.00
Mohinder Kaur531,5003.50
Harjinder Kaur531,5003.50
Kulwin Sehra212,5001.40
Keerat Singh Sehra212,5001.40
Total15,165,400100.00
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GNA Axles’ financial performance (in INR crore)

 FY2012FY2013FY2014FY2015FY2016
Total revenue398.7349.0404.2430.6508.9
Total expenses370.8331.4385.8409.9469.6
Profit after tax16.94.813.221.625.9
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GNA Axles’ IPO Subscription Details

CategoryShares offeredSubscription (no. of times, at 5 PM) 
Day 1Day 2Day 3
QIB

 1,220,000

0.00 0.7917.18
NII

 915,000

1.52

 2.14217.47
Retail

2,135,000

0.662.8510.42
Employees

200,000

0.170.260.31
Total

4,470,000

0.63

2.03 54.19
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GNA Axles IPO Allotment Status

GNA Axles 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/ 
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GNA Axles Contact Details

GNA Axles Ltd 
V PO Mehtiana,
Phagwara-Hoshiarpur Road,
Hoshiarpur 146 001

Phone: +91 181 4630 477
Fax: +91 181 4630 477
Email: gjain@gnagroup.com 
Website: www.gnagroup.com 

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Registrar of GNA Axles 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: gna.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

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Listing Performance of GNA Axles IPO

IPO Opening Date: 14 September 2016

IPO Closing Date: 16 September 2016

Finalisation of Basis of Allotment: 21 September 2016

Initiation of refunds: 22 September 2016

Transfer of shares to demat accounts: 23 September 2016

Listing Date: 26 September 2016

Listing Price on NSE: INR252 per share (Return of 21.7% over IPO price)

Closing Price on NSE: INR248 per share (Return of 19.8% over IPO price)

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21 COMMENTS

  1. Trading Members of the Exchange are hereby informed that effective from Monday, September 26, 2016; the equity shares of G N A Axles Limited shall be listed and admitted to dealings on the Exchange in the list of ‘T’ Group of Securities. Further in terms of SEBI circular No. CIR/MRD/DP/02/2012 dated January 20, 2012; the scrip will be in Trade-for-Trade segment for 10 trading days.

  2. GNA is a little better but still it will not give the kind of returns we got earlier in QUess, RBL, Ujjivan, Equitas. Just see on Monday, it may be another L&T Technology.

    • Sir, it will list in the T group so mutual funds will be away, HNIs will be away, and only we the retail fools will run to buy the shares on listing and then will be trapped.

  3. In my view, GNA is a much better company than L&T Technology Services. But there is some worry about its listing in T group which basically means no mutual funds and big investors will be buying this stock after listing. Listing gains may be small and we will need to hold it longer for good returns.

  4. Avoid Avoid and Avoid, that’s what I am going to do for all the three IPOs. The market is looking for excuses for tanking and there are plenty around. Fed rate hike, average monsoon, IIP…. it could be anything. I’d rather wait for good opportunities in the secondary mkt

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