Shree OSFM E-Mobility Ltd IPO: Valuation, Date, Review & GMP

Shree OSFM E-Mobility IPO - Complete Overview

Established in 2006, Shree OSFM E-Mobility Limited stands as a key player in the transportation sector, committed to delivering high-quality services to its clientele.

Shree OSFM E-Mobility Limited, formerly known as Om Sai Fleet Management (India) Private Limited, specializes in providing employee transportation services to large multinational corporations across major cities in India. With over 21 years of experience, the company caters to the employee transportation needs of firms in IT/ITES, aviation, and other sectors, operating under an "asset-light" engagement model with monthly lease, per-kilometer, per-passenger trip, and package options.

Presently, the company manages a diverse fleet of 1400+ vehicles, including small cars, sedans, SUVs, luxury cars, and buses. Of these, 173 vehicles are company-owned, while the rest are leased from various vendors. The company operates in 42 sites across 10 cities, including Mumbai, Navi Mumbai, Pune, Bengaluru, Delhi, Noida, Gurgaon, Hyderabad, Chennai, and Kolkata. Notable clients include major Business Process Management (BPM) players such as JP Morgan, Morgan Stanley, Cape Gemini, Accenture, and others.

 

Shree OSFM E-Mobility IPO Overview

Shree OSFM E-Mobility IPO date is slated to be open for subscription from December 14, 2023, to December 18, 2023. This NSE SME IPO follows a Fixed Price Issue IPO.

The Shree OSFM E-Mobility IPO price is fixed at Rs. 65 per share. The upcoming NSE SME IPO will be listed on December 21, 2023.

The total issue size of this IPO amounts to Rs.24.60 CR. Within this total issue, 50% is issued to retail investors, and 50% is issued to other investors.

 

 

Shree OSFM E-Mobility IPO timetable (Tentative)

Events	Date
IPO Opening Date	14 December 2023
IPO Closing Date	18 December 2023
IPO Allotment Date	19 December 2023
Refund initiation	20 December 2023
IPO Listing Date	21 December 2023

 

Shree OSFM E-Mobility IPO Details

IPO opening & closing date	14 December to 18 December 2023
Face value	Rs. 10 per share
Issue Price	Rs. 65 per share
Lot Size	2000 Shares
Price of 1 Lot	Rs. 1,30,000
Total Issue Size	3,784,000 Shares (aggregating up to Rs. 24.60 Cr)
Fresh issue	3,784,000 Shares (aggregating up to Rs. 24.60 Cr)
Listing at	NSE SME
Issue Type	Fixed Price Issue IPO
Registrar	Bigshare Services Pvt Ltd

 

 

Shree OSFM E-Mobility IPO Lot Details

Application	Lot	Shares
Minimum Lot Investment (Retail)	1 lot	2000
Maximum Lot Investment (Retail)	1 lot	2000
Minimum Lot Investment (HNI)	2 lot	4000

 

Shree OSFM E-Mobility IPO Reservation

Retail Shares Offered	50%
Other Shares Offered	50%

 

Company Financial

As of September 30, FY 23, the company's total assets are Rs. 5,019.67 Lakhs, total revenue is Rs. 5,597.09 Lakhs, and the profit after tax is Rs. 222.59 Lakhs. The net worth is Rs. 2,267.95 Lakhs, with reserves and surplus at Rs. 1,217.95 Lakhs.

(Amount in Lakhs)

Period	Sep 30, FY 23	Mar 31, FY 23	Mar 31, FY 22
Total Assets	5,019.67	4,203.97	2,588.41
Total Revenue	5,597.09	8,261.01	3,079.58
PAT	222.59	309.09	162.78
Net worth	2,267.95	2,045.36	1,736.27
Reserve & Surplus	1,217.95	995.36	1,586.27

 

Revenue By Operations

In FY 23, the company's revenue from operations reached Rs. 5,572.39 Lakhs, supplemented by other operating income of Rs. 24.70 Lakhs, resulting in a total revenue of Rs. 5,597.09 Lakhs. In FY 22, revenue from operations was Rs. 3,030.19 Lakhs, with a total revenue of Rs. 3,079.58 Lakhs.

(Amount in Lakhs)

Particulars	Sep 30, FY 23	Mar 31, FY 23	Mar 31, FY 22
Revenue from operations	5,572.39	8,211.30	3,030.19
Other Operating Income	24.70	49.71	49.39
Total	5,597.09	8,261.01	3,079.58

 

 

The Objective of the Issue

The company intends to use the net proceeds for the following objectives.

• Securing additional working capital needs.
• Acquiring passenger vehicles.
• Addressing general corporate objectives.

 

Promoters and Management of Shree OSFM E-Mobility IPO

1. Mr. Ramnath Chandar Patil.
2. Mr. Nitin Bhagirath Shanbhag.

Pre-issue Promoter Shareholding	76.02%
Post-issue Promoter Shareholding	55.88%

 

Shree OSFM E-Mobility IPO Lead Managers

First Overseas Capital Limited

 

Peers of Shree OSFM E-Mobility IPO

Shree OSFM E-Mobility Limited has a P/E ratio 13.4% higher than VRL Logistics Ltd, while VRL Logistics Ltd has an EPS (Basic) 1144% higher than Shree OSFM E-Mobility Limited.

Name of the Company	Face Value (Rs. per Share)	P/ E	EPS (Basic) (Rs.)
Shree OSFM E-Mobility Limited	10	22.08	2.94
VRL Logistics Ltd	10	19.47	36.58

 

IPO's Valuations

To evaluate the IPO's valuation, we can utilize the information presented in the company's DRHP and RHP. Shree OSFM E-Mobility IPO is fixed at Rs. 65 per share, with an EPS of Rs. 2.94. The company's P/E ratio is calculated at 22.10 based on the issue price.

 

Dividend Policy

According to Shree OSFM E-Mobility IPO DRHP and RHP, the company did not distribute dividends in the preceding fiscal years, and its capacity to declare dividends in the future hinges on its earnings and financial health.

 

 

IPO's Strengths

• Company has a significant presence in the transportation sector with over 21 years of experience.
• The company manages a diverse fleet of 1400+ vehicles and serves major multinational corporations.
• Operating under an "asset-light" engagement model provides flexibility and cost-efficiency.
• The company has shown consistent revenue growth and possesses a healthy financial position.

 

IPO's Weaknesses

• The company did not distribute dividends in the preceding fiscal years, impacting investor income expectations.
• The company's focus on providing employee transportation to specific sectors, such as IT/ITES and aviation, may pose risks if these sectors face downturns.

 

IPO GMP Today

The GMP for Shree OSFM E-Mobility's IPO has not started yet. We will keep you updated about every information here so check back for the latest GMP and more details later.

 

Conclusion

With a strong presence since 2006 and a focus on delivering quality services, the company manages a diverse fleet and caters to major multinational corporations. The IPO, opening from December 14 to December 18, 2023, comes with a fixed price of Rs. 65 per share and a total issue size of Rs. 24.60 Crores. While the company showcases financial robustness and an asset-light model, the absence of a dividend history and dependency on specific sectors are noteworthy considerations. 

 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

 

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