Shree OSFM E-Mobility Limited IPO

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  1. Core Business Focus:
    • The company is primarily engaged in catering to the employee transportation needs of large MNCs.
    • It has accumulated over 16 years of experience in providing transportation services to companies in sectors such as IT/ITES, Aviation, and others.
  2. Engagement Model:
    • The company operates with an “asset-light” engagement model, indicating that it may not own all the vehicles used for transportation.
    • Typical operating parameters include monthly lease agreements, per-kilometer charges, per-passenger trip charges, and package models.
  3. Fleet Composition:
    • The company operates a fleet of 1475+ vehicles, including a variety of vehicle types such as small cars, sedans, SUVs, luxury cars, and buses.
    • Of these, 217 vehicles are owned by the company, while the rest are leased from various vendors.
  4. Geographical Presence:
    • The company has operations in 42 sites across major cities, including Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata.
    • This widespread presence indicates a broad reach to meet the transportation needs of clients in different locations.
  5. Clientele:
    • The client base includes major Business Process Management (BPM) players, demonstrating a focus on serving large and well-established companies.
    • Key clients mentioned are JP Morgan, Morgan Stanley, Cape Gemini, Accenture, among others.
  6. Products/Services:
    • The company offers a range of services to its clients, and revenue from these services is consolidated under the category of “Vehicle Hire Charges” in its accounts.
    • The services include:
      • Travel Desk Management
      • Roster Management Services
      • Logistics for Corporate Events (MICE)
      • Fleet Management
  7. Revenue Segmentation:
    • While the company provides various services, all revenue generated from these services is consolidated and disclosed under the single segment of “Vehicle Hire Charges” in its accounts.

Objects of the Shree OSFM E-Mobility Limited IPO:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects: i. Funding additional Working capital requirements ii. Purchase of Passenger Vehicles iii. General Corporate Purposes
DRHP of Shree OSFM E-Mobility Limited IPO
RHP of Shree OSFM E-Mobility Limited IPO

Shree OSFM E-Mobility Limited IPO Details:

Open Date: Dec 14 2023
Close Date: Dec 18 2023
Total Shares: 3,784,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Issue
Issue Size: 24.60 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 65 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 23 2023

Promoters And Management:

Ramnath Chandar Patil, aged 51 years is the founding promoter and director on the board of the Company since incorporation is redesignated as Managing Director w.e.f. June 01, 2023. He has graduated in commerce stream from University of Bombay in 1994. He has almost 20 years of experience in the field of fleet management business. He worked in various departments from finance, compliance, taxes, Repair and Maintenance, Ticketing and routing rising to the level of office superintendent in Navi Mumbai. Nitin Bhagirath Shanbhag, aged 62 years is the founding promoter and director on the board of the Company since incorporation is redesignated as WTD & Chairman w.e.f. June 01, 2023. He has completed graduation in Commerce from K J Somaiya College of Arts & Commerce in 1982. He has also studied till 3rd semester of MBA in marketing from Jamnalal Bajaj Institute of Management Studies, Mumbai in 1984. Abhishek Agrawal aged 31 years is the Independent Director of the Company. He is a qualified Chartered Accountant and has also completed CFA Level 3 from CFA institute. He has over 5 years of experience in the field of finance and Investment Banking. He has been on the Board since June 08, 2023.

Financials of Shree OSFM E-Mobility Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
6M-FY24
Revenue from Operations 2,919 3,030 8,211 5,572
Other Income 60 49 50 25
Total Revenue 2,979 3,080 8,261 5,597
Operating Expenses 2,381 2,365 6,852 4,564
Employee benefits expenses 196 233 427 232
Other Expenses 97 121 158 63
EBITDA 305 361 824 739
Depreciation & Amortisation 237 168 339 351
Finance Cost 13 5 71 31
EBIT 69 193 485 388
OPM (%) 10.25% 11.72% 9.97% 13.20%
PBT 55 188 414 358
Tax -18 25 105 135
PAT 74 163 309 223
NPM (%) 2.48% 5.29% 3.74% 3.98%
No.of Shares 142.84 142.84 142.84 142.84
EPS 0.51 1.13 2.16 1.55

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Shree OSFM E-Mobility Limited 82 3 2.16 30.0 65 93
VRL Logistics Ltd. 2,649 323 36.58 40.4 704 6,157
* All the data is as per FY23.

Lead Manager of Shree OSFM E-Mobility Limited IPO:

  1. First Overseas Capital Limited

Registrar of Shree OSFM E-Mobility Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Shree OSFM E-Mobility Limited 104, Green Park, Plot No. 2 & 3, Sector 3, Opp. Ghansoli Rly Station, Ghansoli, New Mumbai - 400701 Phone: +91 22 27544431 Email: cs@shreeosfm.com Website: https://shreeosfm.com/

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