• Public Issue of up to 53,16,000 Equity Shares of Benara Bearings & Pistons Limited

• The minimum Bid lot is 2,000 equity shares and in multiples of  2,000 equity shares thereafter

• Issue Opening Date – March 20, 2018 and Issue Closing Date –March 22,2018

MUMBAI, March 15 2018 (GPN) : Benara Bearings & Pistons Ltd (“the Company”)is engaged in the manufacturing of engine bearings, bushes, pistons, piston pin, piston rings, cylinder liners and sleeves and engine valves, will be launching its Initial Public Offering (“IPO” or the “Issue”) on the SME Platform of BSE Limited, which is scheduled to open on 

March 20, 2018 and close on March 22, 2018, with a price band of Rs. 60 to Rs. 63 per Equity Share of face value of Rs. 10 each of the Company.  

 

The issue consists of Initial Public Issue of upto 53, 16,000 equity shares of face value of Rs.10 each (“Equity Shares”), aggregating upto Rs. (.) Lakhs (The issue) of which 2, 72,000 equity shares of face value of Rs 10 each for cash at a price of Rs. [.]/- per equity share, aggregating Rs [.] Lakhs will be reserved for subscription by the market maker to the issue (The Market Maker Reservation Portion) and upto 76,000 equity shares of Rs. 10/each for cash at a price of Rs (.) per equity share aggregating Rs (.) Lakhs will be reserved for subscription by eligible employees (The “Employee Reservation Portion”). The issue less Market Maker Reservation Portion and Employee Reservation Portion i.e. issue of upto 49, 68,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs (.)-per equity share aggregating Rs. (.) Lakhs is hereinafter referred to as the “Net Issue.”

The Face Value of the Equity shares is Rs 10 each and the issue price is 6.00 times the face value at the lower price band and 6.30 times the face value at the upper price band.

The Net Proceeds will be utilized for Expansion of the Company by way of opening retail stores for automobile parts across the country; funding the working capital requirements of our Subsidiary Company – Benara Solar Private Limited (“BSPL”), Funding the working capital requirements of Our Company and General Corporate Purposes. (Collectively, herein referred to as the “Objects of the issue”).

In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”) the Issue is being made for at least 25% of the post-Issue paid-up Equity Share capital of our Company.

In terms of SEBI Circular No. CIR/CFD/POLICYCELL/11/2015, all potential investors shall participate in the Issue only through an Application Supported by Blocked Amount (“ASBA”) process providing details about the bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) for the same.

Pantomath Capital Advisors Private Limited is the Book Running Lead Managers to the issue and Bigshare Services Private Limited is the Registrar to the Issue.

The Equity Shares of the company are proposed to be listed on SME Platform of BSE Limited.

About Benara Bearings & Pistons Limited

Benara Bearings & Pistons Limited, is engaged in the manufacturing of engine bearings, bushes, pistons, piston pin, piston rings, cylinder liners and sleeves and engine valves.

The company is also engaged in the marketing of products like ball bearings, spark plugs, rocker arms, timing chains, connecting rods, valve guides, valve seals & batteries (Motorcycle / Inverter / E Rickshaws) under our own brand which we source through third party contract manufacturing.

The Company markets its product in OEM and Replacement market. It also focuses on two wheeler parts replacement market.

For the fiscal year 2016-17, OEM and Parts Replacement market contribute Rs. 464.39 Lakhs and Rs. 7,266.04 Lakhs respectively towards the revenue operations of the Company on a standalone basis.

About Pantomath Group:

Pantomath has lead managed more than 70 public offerings and raised approx. 800 Crs on SME bourses which is the highest by any merchant banker in the SME space. The lead manager has also to its credit records like raising highest amount of funds for emerging companies, highest returns etc. As per market analysts, Pantomath lead managed companies have better liquidity track record compared to average of other companies listed on SME Exchanges. The group has recently forayed in asset management with launch of Pantomath SME Growth PMS and Pantomath Sabrimala AIF – Category-I Alternative Investment Fund.ENDS