Endurance Technologies to list shares on October 19

Moneycontrol Bureau

Auto components maker Endurance Technologies is set to list its equity shares on exchanges on October 19. It has fixed issue price at the higher end of price band of Rs 467-472 per share.

The issue, which opened for subscription during October 5-7, was oversubscribed 43.84 times. The reserved portion of qualified institutional buyers oversubscribed 53.43 times and non-institutional investors 127.07 times.

The issue comprised of 2.46 crore equity shares, including an offer for sale of 1.93 crore shares by Actis Components and System Investments and up to 53.17 lakh shares by Anurang Jain, founder and managing director of the company. Hence, the company did not receive any proceeds from the offer.

The Aurangabad-based Endurance raised around Rs 1,161 crore through the issue, including Rs 348 crore from anchor investors.

Incorporated in 1999, the company is prominently 2-wheeler and 3-wheeler component supplier in India and 4-wheeler auto component supplier in Europe. It has 25 manufacturing facilities of which 18 are in India and 7 are in Europe (5 plants in Italy and 2 in Germany).