Shree OSFM E-Mobility Limited is currently conducting an IPO with a fixed issue price of Rs. 24.60 crores, comprising an entirely fresh issue of 37.84 lakh shares. The IPO subscription period commenced on December 14, 2023, and is scheduled to conclude on December 18, 2023. The allotment process for the Shree OSFM E-Mobility IPO is anticipated to be finalized on Tuesday, December 19, 2023. The listing of the Shree OSFM E-Mobility IPO on NSE SME is expected to occur on Thursday, December 21, 2023.

The issue price for the Shree OSFM E-Mobility IPO has been set at Rs. 65 per share, with a minimum lot size of 2000 shares per application. Retail investors are required to make a minimum investment of Rs. 130,000. For High Net Worth Individuals (HNIs), the minimum lot size investment is 2 lots, totaling 4,000 shares, equivalent to Rs. 260,000.

First Overseas Capital Limited is serving as the book running lead manager for the Shree OSFM E-Mobility IPO, while Bigshare Services Pvt Ltd has been appointed as the registrar for the issue. Bhh Securities is acting as the market maker for the Shree OSFM E-Mobility IPO. Comprehensive details about the offering can be found in the Shree OSFM E-Mobility IPO Red Herring Prospectus (RHP).

Shree OSFM E-Mobility IPO Details

IPO DateDecember 14, 2023, to December 18, 2023
Face Value₹10 per share
Price₹65 per share
Lot Size2000 Shares
Total Issue Size3,784,000 shares (aggregating up to ₹24.60 Cr)
Fresh Issue3,784,000 shares (aggregating up to ₹24.60 Cr)
Issue TypeFixed Price Issue IPO
Listing AtNSE SME
Shareholding pre-issue10,500,000
Shareholding post-issue14,284,000
Market Maker Portion200,000 shares

The Shree OSFM E-Mobility IPO is scheduled to take place from December 14, 2023, to December 18, 2023, offering 3,784,000 shares at a face value of Rs. 10 per share. Priced at Rs. 65 per share, the total issue size amounts to Rs. 24.60 Crores, with the entire offering constituting a fresh issue. This Fixed Price Issue IPO is set to be listed on NSE SME. The pre-issue shareholding stands at 10,500,000, and post-issue, it will increase to 14,284,000. Additionally, a market maker portion of 200,000 shares has been allocated.

Shree OSFM E-Mobility IPO Timeline (Tentative Schedule)

IPO Opening DateThursday, December 14, 2023
IPO Closing DateMonday, December 18, 2023
Cut-off time for UPI Mandate Confirmation5 PM on December 18, 2023
Basis of AllotmentTuesday, December 19, 2023
Initiation of RefundsWednesday, December 20, 2023
Credit of Shares to DematWednesday, December 20, 2023
Listing DateThursday, December 21, 2023

The Shree OSFM E-Mobility IPO is scheduled to open on Thursday, December 14, 2023, and will conclude on Monday, December 18, 2023, with the cut-off time for UPI mandate confirmation set at 5 PM on the closing day. The basis of allotment will be finalized on Tuesday, December 19, 2023, followed by the initiation of refunds on Wednesday, December 20, 2023. Additionally, both the credit of shares to demat accounts and the listing date are slated for Wednesday, December 20, 2023, and Thursday, December 21, 2023, respectively. Investors are advised to adhere to the specified timelines for a smooth and efficient IPO process.

Shree OSFM E-Mobility IPO Lot Size

Retail (Min)12000₹130,000
Retail (Max)12000₹130,000
HNI (Min)24,000₹260,000

Investors participating in the Shree OSFM E-Mobility IPO have the flexibility to bid for a minimum of 2000 shares, with the option to increase their investment in multiples thereof. The table above outlines the minimum and maximum investment parameters for both retail investors and High Net Worth Individuals (HNIs) in terms of shares and corresponding amounts. Retail investors can subscribe for a minimum of 1 lot (2000 shares) with an investment amount of Rs. 130,000. The maximum investment for retail investors is also capped at 1 lot (2000 shares) with a corresponding amount of Rs. 130,000. For HNIs, the minimum investment requires 2 lots (4000 shares) with an amount of Rs. 260,000. Investors are encouraged to consider these guidelines when participating in the IPO to align with their investment preferences.

Grey Market Premium (GMP) Shree OSFM E-Mobility SME IPO

As of the latest information available, the Grey Market Premium (GMP) for the Shree OSFM E-Mobility SME IPO has not initiated. The daily analysis over the last 8 sessions suggests a downward trend, and today’s GMP indicates a decrease with an expectation for further decline. The current GMP ranges from Rs. 0 as the lowest to Rs. 2 as the highest.

Here is the day-wise trend of Shree OSFM E-Mobility SME IPO GMP:

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing PriceLast Updated
15-12-2023₹65.00₹0₹65 (0%)15-Dec-2023 9:32
14-12-2023 Open₹65.00₹0 Down₹65 (0%)14-Dec-2023 23:31
13-12-2023₹65.00₹2 Up3000₹67 (3.08%)13-Dec-2023 23:31
12-12-2023₹65.00₹0₹65 (0%)12-Dec-2023 23:30
11-12-2023₹65.00₹0₹65 (0%)11-Dec-2023 23:26
10-12-2023₹65.00₹0₹65 (0%)10-Dec-2023 23:24
09-12-2023₹65.00₹0₹65 (0%)9-Dec-2023 23:31
08-12-2023₹65.00₹0₹65 (%)8-Dec-2023 23:24

Investors are advised to stay updated for the daily price trend of Shree OSFM E-Mobility SME IPO GMP and the expected listing price. Please note that GMP is subject to change and may vary based on market dynamics.

Shree OSFM E-Mobility IPO Promoter Holding

The company’s promoters are Mr. Ramnath Chandar Patil and Mr. Nitin Bhagirath Shanbhag. The shareholding pattern before and after the issue is as follows:

Shareholding Pre Issue: 76.02%

Shareholding Post Issue: 55.88%

Before the issue, the promoters collectively hold a 76.02% stake in the company. Following the issue, their collective ownership will be reduced to 55.88%. This information provides insights into the changes in the promoters’ stake due to the issuance of new shares in the IPO. Investors may consider these details when assessing the ownership structure of Shree OSFM E-Mobility Limited.

Key Performance Indicator

P/E (x)22.08
Post P/E (x)20.83
Market Cap (₹ Cr.)92.85
EPS (₹)2.94

P/E (x): The Price-to-Earnings ratio is 22.08, indicating the market’s valuation of the company’s earnings. A lower P/E ratio is generally considered more favorable by investors.

Post P/E (x): After the IPO, the Post P/E ratio is 20.83, providing an adjusted valuation perspective.

Market Cap (Rs. Cr.): The Market Capitalization stands at Rs. 92.85 Cr, reflecting the total market value of the company’s outstanding shares.

ROE (Return on Equity): The Return on Equity is 0.09%, representing the company’s profitability in relation to shareholders’ equity.

ROCE (Return on Capital Employed): The Return on Capital Employed is 0.21%, indicating the efficiency of capital utilization in generating profits.

Debt/Equity: The Debt/Equity ratio is 0.45, suggesting a moderate level of financial leverage. A lower ratio is generally considered healthier.

EPS (Rs.): Earnings per Share is Rs. 2.94, representing the company’s profit allocated to each outstanding share.

RoNW (Return on Net Worth): The Return on Net Worth is 15.11%, providing insights into the company’s ability to generate returns on shareholders’ equity.

Investors may use these KPIs to assess the financial health and valuation of Shree OSFM E-Mobility Limited before making investment decisions.

About Shree OSFM E-Mobility Limited Profile

Founded in 2006, Shree OSFM E-Mobility Limited specializes in providing transportation services tailored for the employees of large multinational corporations in key Indian urban centers. Operating with an asset-light approach, the company manages a diverse fleet exceeding 1475 vehicles, comprising small cars, sedans, SUVs, luxury cars, and buses. Of these, 217 vehicles are owned by the company, while the remainder are sourced through leasing arrangements with various providers.

The operational model of Shree OSFM is characterized by monthly rentals, per-kilometer charges, per-passenger trip rates, and package offerings. The company has established its presence in 42 locations across major cities such as Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata. Notable clients in its portfolio include prominent entities like JP Morgan, Morgan Stanley, Cape Gemini, Accenture, among others.

Service Portfolio:

Travel Desk Management

Roster Management Services

Logistics for Corporate Events (MICE)

Fleet Management

Financial Performance: The company’s financial performance, as of the latest available data, reveals a steady growth trajectory. In the fiscal year 2023, Shree OSFM E-Mobility recorded total revenue of Rs. 8,261.01 lacs, showcasing an upward trend compared to Rs. 3,079.58 lacs and Rs. 2,978.51 lacs in the financial years 2022 and 2021, respectively.

Competitive Strengths:

Customer Relationships: The company can leverage its existing customer relationships to cross-sell additional services or products.

Strategic Focus: Shree OSFM E-Mobility plans to enhance its market position through strategic acquisitions and joint ventures, aiming to diversify its product portfolio and explore new markets.

With a robust service portfolio and a strategic vision for expansion, Shree OSFM E-Mobility Limited stands as a significant player in the transportation services sector, catering to the diverse needs of corporate clients in India.

Shree OSFM E-Mobility Limited Financial Information (Restated)

The financial performance of Shree OSFM E-Mobility Limited demonstrates significant growth between the periods ending on September 30, 2023, and March 31, 2022:

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets (₹ Cr.)5,019.674,203.972,588.412,909.86
Revenue (₹ Cr.)5,597.098,261.013,079.582,978.51
Profit After Tax (PAT) (₹ Cr.)222.59309.09162.7873.76
Net Worth (₹ Cr.)2,267.952,045.361,736.271,607.99
Reserves and Surplus (₹ Cr.)1,217.95995.361,586.271,457.99

Revenue Growth: The company witnessed a substantial increase in revenue, soaring from Rs. 3,079.58 Cr in the fiscal year ending March 31, 2022, to Rs. 8,261.01 Cr in the fiscal year ending March 31, 2023, marking an impressive growth of 168.25%.

Profit After Tax (PAT): The profit after tax showed robust growth, rising by 89.88% from Rs. 162.78 Cr in the fiscal year ending March 31, 2022, to Rs. 309.09 Cr in the fiscal year ending March 31, 2023.

Asset Base: The total assets of the company expanded, reaching Rs. 5,019.67 Cr as of September 30, 2023, reflecting the company’s increasing scale and operational presence.

Net Worth and Reserves: The net worth and reserves and surplus of the company also witnessed growth, indicating financial strength and stability.

The detailed breakdown of total borrowing is not provided in the data. However, the provided financial metrics underscore Shree OSFM E-Mobility Limited’s notable financial performance and growth in its operational metrics. Investors and stakeholders may find these figures valuable for assessing the company’s financial health and trajectory.

Objects of the Issue (Shree OSFM E-Mobility IPO Objectives)

Shree OSFM E-Mobility Limited plans to employ the net proceeds from the IPO for the following objectives:

Funding Additional Working Capital Requirements: A portion of the funds raised will be allocated to support the company’s increased working capital needs. This includes financing day-to-day operations, covering short-term obligations, and facilitating smooth business functioning.

Purchase of Passenger Vehicles: The company intends to utilize a portion of the net proceeds to acquire passenger vehicles. This strategic investment is likely aimed at expanding and upgrading its existing fleet, ensuring the provision of efficient and diversified transportation services to its clientele.

General Corporate Purposes: A part of the funds will be allocated for general corporate purposes. This category typically encompasses various operational and administrative needs that contribute to the overall development and sustainability of the company.

By delineating these specific objectives for the utilization of funds, Shree OSFM E-Mobility Limited aims to enhance its operational capabilities, meet increased demand, and fortify its position in the transportation services sector. Prospective investors and stakeholders may consider these utilization plans as part of their evaluation of the company’s strategic financial management.

Shree OSFM E-Mobility IPO Subscription Status Live

The Shree OSFM E-Mobility IPO has garnered significant interest from investors, with an overall subscription rate of 2.18 times. The subscription details for different investor categories as of December 14, 2023, are as follows:

Investor CategorySubscription (times)Shares OfferedShares Bid forTotal Amount (Rs Cr.)*
Retail Investors1.821,792,0003,270,00021.26
Total *2.183,584,0007,804,00050.73

Total Applications: 1,635 (1.82 times)

These figures indicate a robust response to the IPO, with both retail and other categories showing healthy subscription rates. The oversubscription, reflected in the total subscription of 2.18 times the shares offered, underscores investor confidence in Shree OSFM E-Mobility Limited. The final subscription rate may influence the allotment process, and investors are advised to stay updated on further developments in the IPO.

(Note: All the information provided here is based on available data as of the last update and is subject to change. Please refer to the Shree OSFM E-Mobility IPO RHP for detailed information.)

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