Bookbuilding IPO | ₹130 Cr | Listed at BSE, NSE | Wed, Sep 14, 2016 - Fri, Sep 16, 2016
GNA Axles IPO is a book build issue of ₹130.41 crores. The issue is entirely a fresh issue of 0.63 crore shares of ₹130.41 crore.
GNA Axles IPO bidding started from Sep 14, 2016 and ended on Sep 16, 2016. The allotment for GNA Axles IPO was finalized on Sep 21, 2016. The shares got listed on BSE, NSE on Sep 26, 2016.
GNA Axles IPO price band is set at ₹207 per share. The lot size for an application is 70. The minimum amount of investment required by an retail is ₹14,490 (70 shares) (based on upper price). The lot size investment for sNII is 14 lots (980 shares), amounting to ₹2,02,860, and for bNII, it is 70 lots (4,900 shares), amounting to ₹10,14,300.
The issue includes a reservation of up to 2,00,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Ambit Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to GNA Axles IPO RHP for detailed Information.
IPO Open
Wed, Sep 14, 2016
IPO Close
Fri, Sep 16, 2016
Issue Price
₹207 per share
Market Cap (Pre-IPO)
₹444.33 Cr
| IPO Date | 14 to 16 Sep, 2016 |
| Listed on | Mon, Sep 26, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹205 to ₹207 |
| Issue Price | ₹207 per share |
| Lot Size | 70 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 63,00,000 shares (agg. up to ₹130 Cr) |
| Fresh Issue | 63,00,000 shares (agg. up to ₹130 Cr) |
| Share Holding Pre Issue | 1,51,65,400 shares |
| Share Holding Post Issue | 2,14,65,400 shares |
| BSE Script Code / NSE Symbol | 540124 / GNA |
| ISIN | INE934S01014 |
GNA Axles IPO comprises a total issue size of 63,00,000 shares. The net offer to the public is 61,00,000 shares, after excluding 2,00,000 shares under a preferential allotment. Of the Net offer 30,50,000 (50.00%) are allocated to QIB, 9,15,000 (15.00%) allocated to NII 21,35,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 30,50,000 | 50.00% | 48.41% | NA |
| − Anchor Investor Shares Offered | 18,30,000 | 29.05% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 12,20,000 | 19.37% | NA | |
| NII (HNI) Shares Offered | 9,15,000 | 15.00% | 14.52% | NA |
| Retail Shares Offered | 21,35,000 | 35.00% | 33.89% | 30,500 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,00,000 | 3.17% | NA | |
| Total Shares Offered | 63,00,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 70 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹14,490 |
| Retail (Max) | 13 | 910 | ₹1,88,370 |
| S-HNI (Min) | 14 | 980 | ₹2,02,860 |
| S-HNI (Max) | 69 | 4,830 | ₹9,99,810 |
| B-HNI (Min) | 70 | 4,900 | ₹10,14,300 |
GNA Axles IPO raises ₹37.88 crore from anchor investors. GNA Axles IPO Anchor bid date is September 12, 2016.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 12, 2016 |
| Shares Offered | 18,30,000 |
| Anchor Portion (₹ Cr.) | 37.88 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 21, 2016 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 20, 2016 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of plant and machinery | 80.07 |
| 2 | To meet working capital requirements | 35.00 |
| 3 | General corporate purposes | 3.36 |
The GNA Axles IPO is subscribed 54.88 times on September 16, 2016 7:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 17.18 | 12,20,000 | |
| NII | 217.47 | 9,15,000 | |
| Retail | 11.84 | 21,35,000 | |
| Employee | 0.31 | 2,00,000 | |
| Total | 54.88 | 44,70,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLMs | 5.87 |
| 2 | Selling commission and processing fees for SCSBs | 0.25 |
| 3 | Selling commission and bidding charges for the Syndicate Members, Registered Brokers, RTAs and CDPs | 0.55 |
| 4 | Fees payable to Registrar to the Issue | 0.20 |
| 5 | Printing and stationary expenses | 1.20 |
| 6 | Advertising and marketing expenses | 2.00 |
| 7 | Others: i. Listing fees; ii. SEBI, BSE and NSE processing fees; iii. Fees payable to Legal Counsels; and iv. Miscellaneous. | 1.91 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹207.00 | ₹207.00 |
| Open | ₹248.50 | ₹252.00 |
| Low | ₹242.20 | ₹242.20 |
| High | ₹260.00 | ₹261.80 |
| Last Trade | ₹245.15 | ₹245.05 |
Lead Manager Reports
GNA Axles IPO is a main-board IPO of 63,00,000 equity shares of the face value of ₹10 aggregating up to ₹130 Crores. The issue is priced at ₹207 per share. The minimum order quantity is 70.
The IPO opens on Wed, Sep 14, 2016, and closes on Fri, Sep 16, 2016.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in GNA Axles IPO using UPI as a payment gateway. Zerodha customers can apply in GNA Axles IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GNA Axles IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The GNA Axles IPO opens on Wed, Sep 14, 2016 and closes on Fri, Sep 16, 2016.
GNA Axles IPO lot size is 70, and the minimum amount required for application is ₹14,490.
You can apply in GNA Axles IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Fri, Sep 23, 2016. Check the GNA Axles IPO allotment status.
The GNA Axles IPO listing date is on Mon, Sep 26, 2016.
