Endurance Tech IPO oversubscribed nearly 44 times on last day

Auto components maker Endurance Technologies' initial public offering was oversubscribed nearly 44 times on the last day of the offer today.
The IPO received bids for 75,43,43,430 shares against total issue size of 1,72,29,118 shares, translating into an over subscription of 43.78 times, data available with the NSE till 18:45 hrs showed.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 53.43 times, while non-institutional investors quota received 127 times subscription, sources said.
The quota for retail investors was oversubscribed 2.60 times.
Endurance Technologies has raised over Rs 348 crore by allotting shares to anchor investors.
The issue comprises 2.46 crore shares, including an offer for sale of 1.93 crore by private equity firm Actis and 53.17 lakh shares by the promoter.

It has fixed the price band at Rs 467-472 per share for the offer.

The issue is being managed by Axis Capital and Citigroup Global Markets India Pvt.
The shares are proposed to be listed on BSE and National Stock Exchange (NSE).
The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany.
Endurance Technologies is the 22nd company to hit the market with an IPO this year so far.
Earlier this year, the IPO of staffing firm Quess Corp was oversubscribed by a staggering 145 times, while that of diagnostics company Thyrocare Technologies was oversubscribed 73.46 times, staffing company TeamLease Services' offer (66 times) and auto component maker GNA Axles' IPO (nearly 55 times).