A number of new initial share sales are set to hit the market next week. These are JNK India, Varyaa Creations, Shivam Capitals and others. Among them is the one by auto components maker, the Panchkula-headquartered Emmforce AutoTech IPO, which will be coming to the primary market with its 54-cr IPO. Since this is the middle of the month and the start of the new fiscal, taking stock reveals that the beginnings have been slow for most. However, some analysts are not deterred and say, “Despite a slow start at the beginning of the new financial year, we are exceedingly optimistic about the initial public offerings scheduled for the remainder of the year,” Live Mint quoted Mahavir Lunawat, Managing Director, Pantomath Capital Advisors as saying.

Emmforce AutoTech IPO is set to open for subscription on April 23. (Representational image)

Check out the top details about the Emmforce AutoTech IPO below:

* Emmforce AutoTech IPO is worth 54 crore

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* Emmforce AutoTech IPO date for public subscription is April 23 and the last date is April 25.

* Emmforce AutoTech IPO is made up of a fresh issue of 54.99 lakh equity shares

* Emmforce AutoTech equity share face value is of 10 each.

* Emmforce AutoTech IPO price band has been set at 93-98 per share

* Emmforce AutoTech IPO bidding for anchor investors will start a day earlier on April 22.

* Emmforce AutoTech IPO, at the upper end of the price band, will raise 54 cr.

* Emmforce AutoTech shares will be listed on the BSE SME platform.

* Emmforce AutoTech IPO funds will be invested in Emmforce Mobility Solutions, —which is a subsidiary. The proceeds will go into setting up a new plant at Jharmajri, Baddi, Himachal Pradesh

* Emmforce AutoTech IPO proceeds will also go to meet its general corporate purposes as well as working capital requirement.

* Emmforce AutoTech IPO book-running lead manager is Beeline Capital Advisors.

About Emmforce AutoTech

* Emmforce AutoTech manufactures niche automotive drivetrain parts.

* Emmforce AutoTech sales are mostly through exports – generally to North America and Asia.

* Emmforce AutoTech revenue is 46.45 crore and the profit after tax (PAT) is 5.11 crore (first 7 months that ended on October 31, 2023).

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