GNA Axles Limited's IPO to be staged soon

Primary markets are abuzz with IPOs in current year with several big names to follow including ICICI Prudential Life Insurance, HDFC Life , BSE & NSE .The success of RBL's IPO is indeed encouraging for the several issuers.

The new entrant that one can expect is GNA Axles Limited. GNA Axles Limited is among the leading manufacturers of rear axle shafts used in on-highway and off-highway vehicular segments in India. GNA manufactures and supplies a diverse range of rear axle shafts, other shafts, and spindles for the on-highway segment, i.e. for light commercial vehicles (“LCVs”), medium commercial vehicles (“MCVs”) and heavy commercial vehicles (“HCVs”) and other transport vehicles such as buses. The company also manufactures and supplies a diverse range of rear axle shafts and other shafts for the off-highway segment, i.e. for agricultural tractors and machinery, forestry and construction equipment, electric carts and other specialty vehicles used in mining and defense sectors. GNA also manufactures solid and hollow spindles used in the axle assembly for various vehicles and equipments in the on-highway segment which they supply to their export customers.

GNA has a broad customer base for both the on-highway and off-highway segments and company’s customers are based in India and overseas. Company’s customers primarily include original equipment manufacturers (“OEMs”) such as John Deere ,Mahindra & Mahindra Limited and Tractors and Farm Equipment Limited (“TAFE”); and tier-1 suppliers to OEMs such as Automotive Axles Limited, Meritor HVS AB and Dana Limited.

The company has two manufacturing plants in districts Hoshiarpur and Kapurthala in Punjab.