The debut for today was made by Endurance Technologies, auto component maker. The issue price was listed for the company to be 472 a piece. The stock of the company listed Rs.572 on its debut day Wednesday, which a 20.76 per cent premium to its issue price.
Whereas the same company listed Rs. 571 a piece again, which were 21 .19 per cent. The demand of the company increased during the sale of stocks between October 5 and October 7th and was subscribed 44 times for a core initial offering of Rs. 1,161.
The valuation of Endurance Technologies can be made by fellow competitors Gabriel India and Rico Auto which are trading at financial year 2016 earnings in the multiples of 22.9 and 29.6 times respectively.
The Company transit products directly to the original manufacturer; it delivers, designs, development, validation, testing, manufacturing etc.
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