Endurance Tech IPO to open on Oct 5, price band Rs 467-472
Wed, 28 Sep 2016 08:39:29 -0600
Investors can bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter
TAGS: STOCKS, IPO, ENDURANCE TECHNOLOGIES
Automotive component Endurance Technologies will hit the primary market with an initial public offering on October 5. The company on Wednesday fixed the price band of the issue at Rs 467-472 per equity share.

Investors can bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter. The issue will close on October 7.

Endurance Technologies is engaged in the business automotive component. The company manufacture and supply a diverse range of components for two-wheelers, three-wheelers, passenger vehicles, light commercial vehicles and heavy commercial vehicles.

For the financial year ended March 31, 2016, the company reported a consolidated net profit of Rs 290.92 crore, up 14.50 per cent, against Rs 253.99 crore a year ago.

It had posted a consolidated net profit of Rs 182.95 crore, 169.62 crore and 205.22 crore in FY12, FY13 and FY14, respectively. Total income of the Endurance Technologies increased to Rs 5273.96 crore in FY16 from Rs 4949.43 crore in FY15.

The company has a fast-growing business in Europe, with net revenue from operations growing from Rs 1,098.68 crore in 2013-14 to Rs 1,566.65 crore in 2015-16, a CAGR of 19.4 per cent.
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