Will Endurance Technologies list at a premium?

Endurance Technologies is all set to make its stock market debut on October 19. The Auto Component maker had planned to raise around 1161.73 crores with a price band of Rs 467-472 per share. The issue was oversubscribed 43.84 times. The reserved portion of qualified institutional buyers oversubscribed 53.43 times and non-institutional investors 127.07 times. This public issue will be utilised to reap benefit of brand equity by listing of equity shares on the stock exchanges.  

Endurance Technologies is India’s largest 2W and 3W automotive component company engaged in design, development, testing and manufacture of alloy wheels, suspension, transmission component, brake system and aftermarket sales. Majority of revenue comes from India (67 per cent) followed by Europe (31 per cent). ETL’s revenue is driven by alloy wheels (67 per cent) and suspension (23 per cent), and is growing at a five year CAGR of 8 per cent. The company mainly caters to 2W sector (55 per cent) followed by 4W (35 per cent).