Shree OSFM E-Mobility Ltd Share Price – NSE

Miscellaneous, Small Cap

The scrip was listed at Rs 65, at pat with the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price.

The counter hit a high of Rs 68.25 and a low of Rs 63. About 6.90 lakh shares of the company changed hands at the counter.

Shree OSFM E-Mobility's IPO was subscribed 7.69 times. The issue opened for bidding on 14 December 2023 and it closed on 18 December 2023. The IPO was priced at Rs 65 per share.

The IPO comprised fresh issue of 37,84,000 shares. The promoter and promoter shareholding diluted to 55.88% from 76.02% pre-IPO.

The company intends to utilize issue proceeds from the fresh issue for funding additional working capital requirements, purchase of passenger vehicles and general corporate purposes.

Shree OSFM E-Mobility is engaged in providing employee transportation services to large MNCs with a presence across major cities in India. The company caters to the employee transportation needs of companies in IT/ITES, aviation and other sectors. It operate a largely asset light engagement model. Presently, the company operates more than 1,475 fleet with a variety of vehicles such as small cars, sedans, SUVs, luxury cars and buses of which 217 vehicles are owned by the firm and rest is leased by the company from various vendors. The company has operations in 42 sites spread across Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata. The firm’s clients include major BPM players such as JP Morgan, Morgan Stanley, Cape Gemini, Accenture etc.

As on 31 October 2023, the company has 154 employees. It has 1,400 plus drivers.

The company recorded revenue from operations of Rs 55.72 crore and net profit of Rs 2.22 crore for the period as on 30 September 2023.

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