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
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Endurance Technologies IPO details |
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| 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 Ltd
E-92, MIDC Industrial Area,
Waluj, Aurangabad 431 136
Phone: +91 240 256 9737
Fax: +91 240 255 1700
Email: [email protected]
Website: www.endurancegroup.com
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: [email protected]
Website: http://www.linkintime.co.in
Endurance Technologies IPO Subscription Details
| Category | Shares offered |
Subscription status (no. of times, at 6 PM) |
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| 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 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
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)
Price band for Endurance is INR467-472, what is the gmp? is it a good ipo like gna axles???
seems to be good company
From peer comparison also it looks good
The link has factually incorrect information. It shows Bharat Forge as bigger than Motherson Sumi…
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.
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%
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 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?
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
What is the latest gmp in endurance???
grey premium has come down in endurance to 65 now but kostak rate has gone up as subscription is not very high
Don’t look at GMP, it is a solid company and has good fundamentals. Apply and you will not regret.
Nice show by HNIs at the end, am happy that retailers have subscribed only 2.2 times. Means better allotment
Whats d latest gmp???
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 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 :))))
Allotment out, I’ve got 2 out of three applications :)))
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
I applied for 6 lot at bid 472 got none…. ???
Can anyone explain me the procedure of allotment?
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.
Mrf will be 1 lac
Endurance is good for long term…Pls hold the investment…. don’t sell in hurry…. its good auto ancillary company with good fundamentals
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
What is the basis of allotment? Applied for 12 lot but got nothing?
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 latest gmp, at what price it will list?
Bhai padh bhi liya karo comment karne se pehle. GMP 70 so conservative estimate 540
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