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Endurance Technologies IPO to open on October 5

Monday, October 03, 2016
By A Business Reporter

Endurance Technologies plans to hit the capital market with its maiden initial public offer (IPO) on October 5. The company fixed price band from Rs 467 to Rs 472 per equity share for its initial public offer (IPO).   

The offer is being made through the book building process, consisting of an offer for sale of up to 19,295,968 equity shares by Actis Components and System Investments Ltd (Actis) and up to 53,17,056 equity shares by the promoter selling shareholder Anurang Jain.     

The offer which closes October 7, will constitute up to 17.50% of the fully diluted post-offer paid-up equity share capital of the company. The Book Running Lead Managers (BRLMs) to the offer are Axis Capital Limited and Citigroup Global Markets India Pvt Ltd. The equity shares offered through the offer are proposed to be listed on BSE and National Stock Exchange of India Ltd (NSE).   

The company is the largest two-wheeler and three-wheeler automotive component manufacturer in the country in terms of aggregate revenue for FY2015 from its selected product segments. It also has operations in Europe with highly-automated manufacturing facilities in Italy and Germany.

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