Endurance Tech IPO to open on Oct 5

Even as ICICI prudential gets listed on Thursday the IPO season continues to enthral investors with yet another IPO set to hit markets in the festive month of October.

Endurance Technologies – a Maharashtra based auto component maker is all set to hit the capital markets on October 5. The issue price as fixed by the company is Rs 467-472 per share.

There is an offer for sale of up to 1.92 crore shares and 53.17 lakh shares by Actis components, and Anurang Jain (managing director) respectively.

The offer for sale will ensure that the money will not go to the company. The offer for sale will constitute up to 17.50 per cent of the fully diluted post-offer paid up equity capital of the company. Investors can only bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter.

The company manufactures technology-intensive automotive components for two-wheeler and three wheeler segments. The company also manufactures specified components for four wheeler passenger vehicles, light commercial vehicles and heavy commercial vehicles. Bajaj Auto, Royal Enfield, Honda Motorcycle & Scooter India and India Yamaha Motor are some of its biggest clients.The company has 25 plants across India, Italy and Germany.