Auto components maker Endurance Technologies, which recently raised about Rs 1,161 crore through its initial public offering, is set to list its shares on the stock exchanges tomorrow. The IPO, which opened for subscription from October 5-7 was over-subscribed 44 times at a price band of Rs 467-472 per share. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 53.43 times, while non-institutional investors quota received 127 times subscription.
The quota for retail investors was oversubscribed 2.60 times. The public issue comprises 2.46 crore equity shares, including an offer for sale of 1.93 crore shares by private equity firm Actis and 53.17 lakh shares by the promoter. The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany. Axis Capital and Citigroup Global Markets India are the merchant bankers to the issue.
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