Shree OSFM E-Mobility Ltd IPO Timeline

Shree OSFM E-Mobility Ltd IPO opens on 14-Dec-2023, and closes on 18-Dec-2023. The Shree OSFM E-Mobility Ltd IPO bid date is from 14-Dec-2023 to 18-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Shree OSFM E-Mobility Ltd IPO Opening Date 14-Dec-2023
Shree OSFM E-Mobility Ltd IPO Closing Date 18-Dec-2023
Basis of Allotment 19-Dec-2023
Initiation of Refunds 20-Dec-2023
Credit of Shares to Demat 20-Dec-2023
Shree OSFM E-Mobility Ltd IPO Listing Date 21-Dec-2023

Shree OSFM E-Mobility Ltd IPO Lot Size

Shree OSFM E-Mobility Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 130000).

Application Lots Shares Amount
Minimum 1 2000 ₹130000
Maximum 1 2000 ₹130000

Shree OSFM E-Mobility Ltd IPO Details

Shree OSFM E-Mobility Ltd IPO Date 14-Dec-2023 to 18-Dec-2023
Shree OSFM E-Mobility Ltd IPO Face Value Shares of ₹10 per share
Shree OSFM E-Mobility Ltd IPO Price ₹65 per share
Shree OSFM E-Mobility Ltd IPO Lot Size 2000
Issue Size Shares of ₹10 (aggregating up to ₹24.6 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹24.6 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Ramnath Chandar Patil, Nitin Bhagirath Shanbhag.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding additional working capital requirements
  • 2 Purchase of passanger vehicles
  • 3 General corporate purposes

Company Financials

Shree OSFM E-Mobility Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 82.96 119.06 8.10
03-2023 42.05 82.61 2.91
03-2022 25.88 30.80 1.63
Amount in ₹ Crore
  • Asset Light Business Model and competitive service offerings.
  • Existing well-established goodwill and client relationships.
  • Experienced Promoter and management team with strong industry expertise and successful track record.
  • Quality Assurance.
  • There are certain outstanding legal proceeding involving the Company which may adversely affect its business, financial condition and results of operations.
  • The company may be unable or fail to maintain/ attract/ retain/ establish arrangements with drivers and vendors through whom its provided the company services, its may experience disruption or delay in providing services to its customers which further have an adverse effect on the company results of operations.
  • Its inability to manage the growth of its operations in India and in new territories outside of India could disrupt its business and reduce the company profitability.
  • The company has working capital requirements. If its experience insufficient cash flows to make required payments on its debt or fund working capital requirements, there may be an adverse effect on its results of operations.
  • Substantial portion of its revenues has been dependent upon limited number of customers.
  • Driver misconduct, errors or fraud could expose it to business risks or losses that could adversely affect the company business prospects, results of operations and financial condition.
  • Negative publicity with respect to its services or in the passenger vehicle service industry in which the company operates could adversely affect its business, financial condition and results of operations.
  • The company propose to utilize a major portion of its Net Proceeds towards purchase of Vehicles.
  • The Company had negative cash flow from operating activity in recent fiscals, details of which are given below.
  • The Company has several Contingent Liability and Commitments which if materialize could affect its financial position.
  • The company financing agreements contain covenants that limit its flexibility in operating the company business. Its inability to meet its obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company business, results of operations and financial condition.
  • The company has not made any dividend payments in the past and its ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.
  • The Company in the past has entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The company's business requires it to obtain and renew certain registrations, licenses and permits from government and regulatory authorities and the failure to obtain and renew them in a timely manner may adversely affect its business operations.
  • Strong competition in the passenger service industry could decrease the market share and compel the company to either reduce the cost charged or increase the payments made to the drivers and vendors. This may have an adverse impact on the enrolments, revenues and profitability.
  • Delay in raising funds from the IPO could adversely impact the implementation schedule.
  • Its registered office and branch offices are on leased/ rented premises and leave & license agreement have been executed for the same. Any termination or dispute in relation to these lease/ rental agreement may have an adverse effect on its business operations and results thereof.
  • The Company has not registered the trademark. Its ability to use the trademark may be impaired if the same is not registered under its name.
  • Its insurance coverage may not be adequate to protect the company against certain operating hazards and this may have a material adverse effect on its business.
  • The Company's business operations are done PAN India specifically from Western India and any downturn and/or any economic, regulatory, social and political change in any of the Indian states in which its operate or seek to operate may affect the company market share and/ or may adversely affect its business, financial condition and results of operations.
  • The company face[M1] risks associated with currency exchange rate fluctuations.
  • The company have relied on declarations and provisional documentary evidence for certain details in relation to its Promoter as mentioned in "Its Management" chapter in this Draft Prospectus.
  • The company is dependent on a number of Key Management Personnel, including its Promoters, Directors, senior management, and the loss of or the company inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
  • The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Offer.
  • The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. The deployment of funds is entirely at the discretion of its management and as per the details mentioned in the section titled "Objects of the Issue". Any revision in the estimates may requires it to reschedule the company expenditure and may have a bearing on its expected revenues and earnings.
  • The company Board of Directors and management may change its operating policies and strategies without prior notice or shareholder approval.
  • In addition to normal remuneration or benefits and reimbursement of expenses, some of its Promoters and/ or Directors and/ or Key Managerial Personnel's are interested in the Company to the extent of their shareholding and dividend entitlement thereon in the Company.
  • Its Promoters and members of the Promoter Group will continue to jointly retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • The Company's management will have flexibility in utilizing the Net Proceeds. There is no monitoring agency appointed by the Company and the deployment of funds is at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
  • The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available on the internet.
  • The requirements of being a listed company may strain its resources.
  • Leveraging its existing client relationship to cross sell other offerings.
  • Growing Vendor / Driver Pool.
  • Inorganic Growth.

Shree OSFM E-Mobility Ltd IPO Promoter Holding

Pre Issue Share Holding 66.50%
Post Issue Share Holding 48.88%

Shree OSFM E-Mobility Ltd IPO Subscription Status (Bidding Detail)

The Shree OSFM E-Mobility Ltd IPO is subscribed 2.8784 times on Dec 18, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 2.8784

Shree OSFM E-Mobility Ltd IPO Prospectus

Shree OSFM E-Mobility Ltd IPO Listing Date

Listing Date 21 Dec 23
BSE Script 92152
NSE Symbol SHREEOSFM
Listing In NSE - SME
ISIN INE02S501018
IPO Price ₹65
Face Value ₹10

Shree OSFM E-Mobility Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Shree OSFM E-Mobility Ltd IPO Lead Manager(s)

  1. First Overseas Capital Ltd

FAQs on Shree OSFM E-Mobility Ltd IPO

Shree OSFM E-Mobility Ltd IPO, which opens for subscription from 14-Dec-2023 to 18-Dec-2023 has an issue size of ₹24.6 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Shree OSFM E-Mobility Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Shree OSFM E-Mobility Ltd IPO Opens for subscription from 14-Dec-2023 to 18-Dec-2023.

The lot size of Shree OSFM E-Mobility Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹130000 and ₹130000 respectively.

Allotment date for Shree OSFM E-Mobility Ltd is 19-Dec-2023 and refund of application amount (in case allotment is not received) will begin from 20-Dec-2023. If your allotment goes through, then shares will be credited in your Demat account by 20-Dec-2023.

The registrar for Shree OSFM E-Mobility Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Shree OSFM E-Mobility Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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