Breaking News

Endurance Technologies IPO to hit markets on October 5

Endurance Technologies’ initial public offering (IPO) is all set to hit capital markets on October 5 at a price band of Rs 467-472 per equity share of face value of Rs 10 each. The issue will close on October 7. Investors can bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter. Axis Capital and Citi Group Markets India Pvt Ltd are the book-running lead managers to the issue, while Link Intime India Pvt Ltd is the registrar to the public offer. Shares of the company are proposed to be listed on BSE and NSE. Endurance Technologies is engaged in the business automotive component. The company manufacture and supply a diverse range of components for two-wheelers, three-wheelers, passenger vehicles, light commercial vehicles and heavy commercial vehicles. For the financial year ended March 31, 2016, the company reported a consolidated net profit of Rs 290.92 crore, up 14.50 per cent, against Rs 253.99 crore a year ago. 

It had posted a consolidated net profit of Rs 182.95 crore, 169.62 crore and 205.22 crore in FY12, FY13 and FY14, respectively. Total income of the Endurance Technologies increased to Rs 5273.96 crore in FY16 from Rs 4949.43 crore in FY15. Anurag Jain is the promoter and managing director of the company with over 31 years of experience in the automobile components industry. The company has a fast-growing business in Europe, with net revenue from operations growing from Rs 1,098.68 crore in 2013-14 to Rs 1,566.65 crore in 2015-16, a CAGR of 19.4 per cent.

source : www.financialexpress.com

================================================ 
Visit for All Latest & Breaking News in #Marathwada #Aurangabad #Nanded #Latur #Parbhani #Jalna #Beed #Hingoli #Osmanabad 
Like us on Facebook : https://www.facebook.com/AurangabadTravels 
Visit Daily : http://www.aurangabadmetro.com/