SME IPO: Shree OSFM E-Mobility issue to open on December 14. 10 things to know

The initial public offering (IPO) of Shree OSFM E-Mobility will open for subscription on December 14. The issue closes on December 18. Here are 10 things to know about the offer.

1) Company Overview
The company is engaged in providing employee transportation services to large MNCs with a presence across major cities in India. It has over 16 years of experience in catering to the employee transportation needs of companies in IT/ITES, aviation, and other sectors.

2) Industry Overview

The fleet management industry in India, part of the larger logistics industry could be classified into two verticals -- freight transportation and passenger/employee transportation. Employee transportation is a very important part of the fleet management industry and is showing nascent signs of evolving into an important part of the support function for a lot of companies.

3) Issue Size
The IPO is entirely a fresh equity issue of up to 37.8 lakh equity shares, aggregating to Rs 24.6 crore.

4) Price Band
The company is offering its shares at Rs 65 apiece, and investors can bid for 2,000 shares in one lot.

5) Financial Performance
For the six months ended September 2023, the company clocked revenues of Rs 55.97 crore and net profit of Rs 2.22 crore.

6) Objects of the Offer
The net proceeds from the public offer will be used for funding additional working capital requirements, purchase of passenger vehicles, and other general corporate purposes.

7) Lead Managers and Registrar
First Overseas Capital is acting as the lead manager for the issue and Bigshare Services is the registrar.

8) Issue Structure
About 50% of the offer is reserved for retail investors and the rest 50% for other investors.

9) Important Dates
The IPO opens on December 14 and will close on December 18. The final allotment will likely be made on December 19. The company's shares are likely to get listed on December 21.

10) Listing of Shares
The company's shares will get listed on the NSE SME platform.

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