Emmforce Autotech IPO Sets Record with 20.21-Times Subscription on Day 1

Emmforce Autotech IPO Sets Record with 20.21-Times Subscription on Day 1

In a monumental display of investor confidence, the Emmforce Autotech IPO witnessed an extraordinary subscription of 20.21 times on its opening day, April 23rd. The niche automotive drivetrain parts manufacturer captured the market’s attention with its promising debut in the public offering arena.

All segments of investors eagerly participated in the IPO, collectively acquiring 7.94 crore equity shares against the IPO’s size of 39.33 lakh shares, according to data from the BSE.

Retail investors emerged as frontrunners, displaying a staggering subscription rate of 29.34 times the allotted quota. Non-institutional investors, including high net worth individuals, also showcased remarkable enthusiasm, subscribing 23.37 times the reserved portion. The qualified institutional buyers contributed significantly, bidding 1.03 times the portion set aside for them.

Emmforce Autotech specializes in manufacturing differential lockers & spools, 4WD locking hubs, spindles, axles & shafts, and yokes, catering primarily to 4-wheel drive and performance racing vehicles.

With intentions to raise Rs 53.90 crore through a public issue of 54.99 lakh equity shares, consisting solely of a fresh issue component, Emmforce Autotech has set the stage for a promising journey in the public market.

Investors and industry experts alike eagerly await further developments as Emmforce Autotech continues its IPO journey, riding high on the remarkable subscription momentum witnessed on the first day.