GNA Axles IPO
GNA Axles IPO — date, price band, lot size & details 2016
GNA Axles listed on 26 Sep 2016 at ₹252, 21.7% above the ₹207 issue price.
GNA Axles is a Punjab based maker of rear axle shafts, other shafts and spindles for on highway and off highway vehicles. Its total income was Rs 508.94 crore in FY2016.
Stock price
GNA Axles is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 14 Sep 2016
- Close 16 Sep 2016
- Allotment 21 Sep 2016
- Refund/credit 22 Sep 2016
- Listing 26 Sep 2016
Issue summary
The terms of the offer, as filed.
| IPO Dates | 14 to 16 Sep, 2016 |
|---|---|
| Price Band | ₹205 – ₹207 |
| Face Value | ₹10 |
| Lot Size | 70 Shares |
| Issue Size | ₹130.41 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,490 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 70 shares at the ₹207 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 404.25 crore in FY2014 to Rs 508.94 crore in FY2016.
- 02Profit after tax rose from Rs 13.27 crore in FY2014 to Rs 25.96 crore in FY2016.
- 03Total borrowing fell from Rs 129.77 crore in FY2015 to Rs 108.08 crore in FY2016.
- 04Rs 80.07 crore of the issue was for new plant and machinery.
Risks · 5
- 01Profit after tax was Rs 25.96 crore on income of Rs 508.94 crore in FY2016, so margins are thin.
- 02Its products go into commercial and off highway vehicles, which are cyclical; total assets were Rs 446.53 crore.
- 03Steel prices drive its costs; it needed Rs 35.00 crore of working capital.
- 04It depends on a narrow product range of shafts and spindles, with 2.26 million components made in 2016.
- 05The promoters and promoter group held 70.65% after the issue.
Three years of numbers
All figures in ₹ crore, as reported in the GNA Axles offer document.
| Metric | 31 Mar 2016 | 31 Mar 2015 | 31 Mar 2014 |
|---|---|---|---|
| Assets | 446.53 | 426.46 | 381.85 |
| Total Income | 508.94 | 430.64 | 404.25 |
| Profit After Tax | 25.96 | 21.60 | 13.27 |
| NET Worth | 136.14 | 112.66 | 91.56 |
| Reserves and Surplus | 123.14 | 97.64 | 76.40 |
| Total Borrowing | 108.08 | 129.77 | 112.58 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹118.43 Cr of the issue is earmarked to named objects.
GNA Axles IPO Anchor Investors
7 anchor investors across 3 fund houses committed ₹37.88 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Reliance Capital Trustee Company Limited - A/C Reliance Small Cap Fund | Nippon India Mutual Fund | 483,140 | 10.00 | 26.40% |
| UTI Mutual Fund: UTI-Balanced Fund | UTI Mutual Fund | 266,433 | 5.52 | 14.56% |
| UTI Mutual Fund: UTI-Retirement Benefit Pension Fund | UTI Mutual Fund | 114,217 | 2.36 | 6.24% |
| HDFC Trustee Company Limited A/C HDFC Childrens Gift Fund - Investment Plan | HDFC Mutual Fund | 242,200 | 5.01 | 13.23% |
| HDFC Trustee Company Limited A/C HDFC Retirement Savings Fund - Debt Plan | HDFC Mutual Fund | 7,210 | 0.15 | 0.39% |
| HDFC Trustee Company Limited A/C HDFC Retirement Savings Fund - Equity Plan | HDFC Mutual Fund | 121,100 | 2.51 | 6.62% |
| HDFC Trustee Company Limited - HDFC Prudence Fund | HDFC Mutual Fund | 595,700 | 12.33 | 32.55% |
| Total anchor allocation | 37.88 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It mainly makes and sells auto components for the four wheeler industry, used in on highway and off highway vehicles.
It made over 2.26 million components in 2016.
The IPO was Rs 130.41 crore and was entirely fresh issue at Rs 207, the top of the Rs 205 to Rs 207 band. The money was for plant and machinery and working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
GNA Axles IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Ambit Capital
17 issues handledBest listing: Chemcon Speciality Chemicals (+115.0%). Weakest: Metro Brands (-12.6%).
Pnb Investment Services Ltd
6 issues handledBest listing: Pranav Constructions (+33.1%). Weakest: Aastha Spintex (-4.4%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of GNA Axles?
The current Grey Market Premium is ₹0.
What is the GNA Axles IPO price band?
₹205 to ₹207, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 September 2016, with listing on 26 September 2016.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
