#e rickshaw differential specifications

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Shree OSFM E-Mobility IPO Date, Price, GMP, Review December 2023

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Shree OSFM E-Mobility IPO Date, Price, GMP, Review December 2023

Shree OSFM E-Mobility IPO: Shree OSFM E-Mobility Limited is a Pune-based manufacturer of electric vehicles, primarily focusing on three-wheeled e-rickshaws and e-loaders.They operate in the rapidly growing Indian electric vehicle market, estimated to reach $150 billion by 2030.

Shree OSFM E-Mobility IPO Key Details:

Dates:

Open: December 14, 2023

Close: December 18, 2023

Listing (tentative): December 21, 2023, on NSE SME

Offer Size: ₹24.60 crore (fresh issue of 37.84 lakh shares)

Price Band: ₹65 per share

News and Developments:

Subscription Update: As of December 15, 2023, the IPO saw good initial response with:

Retail category subscribed 3.99 times.

Overall subscription at 3.50 times.

Grey Market Premium (GMP): Trading at a slight premium of ₹2-3 per share as of December 17, indicating cautious optimism.

Analyst Opinions: Views are mixed, with some recommending caution due to the fragmented nature of the segment and high valuation compared to FY24 earnings. Others see potential in the company’s focus on last-mile connectivity and EV adoption growth.

Shree OSFM E-Mobility Securities Offered:

This is a pure equity share offering. No bonds or other instruments are being issued. The company is raising fresh capital by issuing 37.84 lakh new shares.

Investor Category Reservation:

Category Percentage Allocation Retail Individual Investors (RII) 35% Qualified Institutional Buyers (QIB) 50% Non-Institutional Investors (NII) 15%

Minimum Lot Size and Investment Amount:

Minimum Lot Size: 2,000 shares.

Minimum Investment Amount: ₹130,000 (2,000 shares * ₹65 per share).

Note: For HNI/NII investors, the minimum investment is 2 lots (4,000 shares) or ₹260,000.

Additional Information:

This is a fixed-price IPO, meaning the offer price is set at ₹65 per share.

You can apply for the IPO through your broker or through the designated ASBA platforms of your bank.

Shree OSFM E-Mobility Company Profile:

Early Beginnings and Operations:

Established in 2015, Shree OSFM E-Mobility started as a manufacturer of automotive components.

In 2018, they pivoted to electric vehicles, focusing on three-wheeler e-rickshaws and e-loaders.

Currently, they have two manufacturing facilities in Pune with a total capacity of 60,000 units per year.

Their primary operations are spread across Maharashtra, Gujarat, and Madhya Pradesh, but they aim to expand pan-India.

Market Position and Brands:

They hold a small but growing share in the fragmented Indian e-rickshaw market, estimated to be worth over ₹20,000 crore.

Their main brand is “OSFM E-Mobility,” marketed under the tagline “Sustainable Solutions for Last Mile Connectivity.”

They haven’t yet established prominent sub-brands or subsidiaries.

Competitive Advantages and Unique Selling Proposition (USP):

Focus on last-mile connectivity: caters to a vital segment with high demand for affordable and efficient e-vehicles.

Vertical integration: own production facilities for key components, ensuring cost control and quality.

Product differentiation: offer customized e-rickshaws and e-loaders based on specific customer needs.

Strong distribution network: have established dealership relationships across their target markets.

Challenges and Potential Risks:

Intense competition: operate in a crowded market with numerous established players.

Dependence on government policies and subsidies: government support plays a crucial role in EV adoption.

Limited financial resources: compared to larger peers, their capital base is relatively smaller.

Overall: Shree OSFM E-Mobility occupies a niche space in the growing Indian e-vehicle market. While it faces stiff competition, its focus on specific segments, vertical integration, and customization offer potential advantages. However, its limited financial resources and dependence on government policies create uncertainties for investors.

Shree OSFM E-Mobility Financials:

Revenue Growth: The company has demonstrated impressive revenue growth, with YOY (Year-over-Year) increases of 85% in FY22 and 168% in FY23 (estimated). This surge reflects rising demand for their e-rickshaws and e-loaders.

Profitability: Profitability remains moderate, though improving. They recorded a PAT (Profit After Tax) of ₹309.09 lakhs in FY23, compared to ₹162.78 lakhs in FY22. Net margins remain around 3-4%.

Debt Levels: The company currently has minimal debt, with a debt-to-equity ratio of approximately 0.10. This provides them with financial flexibility and potential for future borrowing.

Key Financial Ratios (FY23 estimated):

P/E Ratio: Based on the issue price of ₹65 and estimated EPS (Earnings Per Share) of ₹2.94, the P/E ratio stands at 22.1.

Debt-to-Equity Ratio: As mentioned earlier, it stands at a healthy 0.10.

Industry Benchmarks:

P/E Ratio: The average P/E ratio for established electric vehicle companies in India is around 30-40. Shree OSFM’s lower P/E could signal potential, but also reflects its smaller size and lower profitability.

Debt-to-Equity Ratio: Industry benchmarks vary, but a ratio below 1 is generally considered favorable, which Shree OSFM achieves comfortably.

Future Growth Prospects and Earnings Drivers:

Growing e-vehicle market: The Indian e-vehicle market is expected to see consistent growth in the coming years, driven by government policies, rising fuel prices, and increasing focus on sustainability. This presents a significant opportunity for Shree OSFM.

Expansion plans: The company plans to expand production capacity and enter new markets, which could significantly boost revenue and earnings.

Product diversification: Exploring new e-vehicle segments beyond e-rickshaws and e-loaders could diversify their offering and attract new customers.

Challenges and Risks:

Intense competition: The fragmented market has numerous players, and competition for market share is fierce.

Dependence on government policies: Continued government support for e-vehicle adoption is crucial for the company’s success.

Profitability concerns: Sustaining and improving profitability while scaling up will be key for long-term sustainability.

Objectives of the Issue:

Shree OSFM E-Mobility has outlined three main objectives for its IPO:

Funding the purchase of passenger vehicles: This includes acquiring new e-rickshaws and e-loaders to meet the growing demand and expand their fleet.

Meeting working capital requirements: The capital will be used to manage day-to-day operations, purchase raw materials, and improve operational efficiency.

General corporate purposes: This could involve research and development activities, marketing initiatives, brand building, and potential acquisitions.

Alignment with Growth Strategy:

These objectives clearly align with Shree OSFM’s future growth strategy:

Expansion: Acquiring new vehicles directly supports their goal of increasing production capacity and entering new markets.

Efficiency: Addressing working capital needs allows them to streamline operations and potentially reduce costs.

Future Opportunities: Utilizing funds for general corporate purposes provides flexibility for strategic investments, R&D, and future acquisitions, all of which can contribute to long-term growth.

Additional Considerations:

The amount raised (₹24.60 crore) might seem modest compared to larger players in the electric vehicle market. However, for a relatively young company like Shree OSFM, it can be a significant boost for achieving their near-term growth goals.

The dependence on IPO funds for vehicle acquisition raises questions about their current capital structure and future financing plans.

Shree OSFM E-Mobility IPO: Lead Managers and Registrar

Lead Managers:

First Overseas Capital Limited (FOCO): FOCO is a licensed merchant banker with experience in managing small and medium-sized enterprise (SME) IPOs. Some recent SME IPOs they handled include Devyani International Limited and Uniphos Enviro Care Limited. While they have experience in managing similar offerings, their track record in terms of post-listing performance hasn’t been consistently robust.

Registrar:

Bigshare Services Private Limited: Bigshare is a SEBI-registered entity acting as a registrar for various types of capital market issuances, including IPOs. Their role in the Shree OSFM E-Mobility IPO involves maintaining shareholder records, handling allotment and refund processes, and facilitating share transfers. Their expertise ensures smooth execution of these crucial aspects of the IPO.

Shree OSFM E-Mobility IPO: Grey Market Premium

Current GMP: As of October 26, 2023, the GMP for Shree OSFM E-Mobility IPO stands at ₹2-3 per share. This indicates a slight positive sentiment in the grey market, with investors willing to pay marginally more than the issue price of ₹65 per share.

Comparison with Recent Listings:

Compared to recent SME IPOs, this GMP is moderate. Recent listings like Akashdeep Metals and Crafts saw GMPs reaching ₹10-15 per share, while others like Erisson Auto Parts Limited had negative GMPs.

The relatively subdued GMP for Shree OSFM E-Mobility could be due to several factors, including its smaller size, limited track record, and presence in a competitive market.

Factors Influencing GMP:

Demand and supply dynamics: High demand for the shares in the grey market can push up the GMP, while excess supply can exert downward pressure.

Company fundamentals: Strong financial performance, future growth prospects, and prominent investors can boost confidence and lead to a higher GMP.

Market sentiment: Overall market conditions and investor appetite for IPOs can also influence the grey market premium.

News and analyst reports: Positive news coverage and favorable analyst opinions can strengthen the GMP, while negative developments can have the opposite effect.

Potential Impact on Listing Price:

A sustained positive GMP can indicate rising investor interest and potentially lead to a higher listing price than the issue price. However, it is important to remember that the grey market is unofficial and its performance doesn’t guarantee the actual listing price.

A negative GMP suggests weaker demand and could result in a listing price below the issue price. Nevertheless, other factors like institutional investor participation and market conditions can also play a role in determining the final listing price.

Potential Risks to Consider Before Investing in Shree OSFM E-Mobility IPO:

Market Volatility:

The Indian stock market can be volatile, and unforeseen economic or political events could negatively impact the IPO performance and overall value of the shares.

Industry Headwinds:

Intense competition in the fragmented e-rickshaw market could erode margins and limit Shree OSFM’s market share.

Dependence on government policies and subsidies for e-vehicle adoption creates external risks beyond the company’s control.

Rising battery and raw material costs could put pressure on profitability.

Company-Specific Challenges:

Limited track record as a publicly traded company creates uncertainty about their future performance and ability to deliver on growth plans.

The relatively small size of the IPO fundraising compared to industry giants might limit their competitive edge and expansion capabilities.

Dependence on IPO funds for vehicle acquisition raises concerns about future financing needs and potential debt burden.

Financial Health Concerns:

While debt levels are low, profitability remains moderate, and significant improvement is needed to justify the current valuation.

The high P/E ratio compared to industry benchmarks could indicate potential overvaluation, increasing investment risk.

Red Flags for Investors:

Short operating history makes it difficult to assess long-term business sustainability.

Inconsistencies in past bottom lines raise concerns about future profitability.

Limited product diversification exposes them to potential market shifts within the e-rickshaw segment.

Shree OSFM E-Mobility IPO: DRHP (Draft Red Herring Prospectus)

Also read: How to Apply for an IPO?

Conclusion :

Shree OSFM E-Mobility shows promise in the booming Indian e-vehicle market, with impressive revenue growth, minimal debt, and expansion plans. However, intense competition, modest IPO funds, and profitability concerns necessitate caution. Thorough research and due diligence are crucial before investing.

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Staying afloat in India’s food-tech storm is no easy feat.

The last few years have resembled a battleground for startups in the sector. They’ve been falling like dominoes. Food-tech funding has dipped drastically from $500 million in 2015 to $80 million a year later. Companies have been laying off workers by hundreds. Food-delivery platform Zomato logged a Rs 492 crore loss between 2015 and 2016. Meanwhile, Foodpanda India’s loss ballooned fourfold to Rs 142.6 crore the same year, the Economic Times reported.

But 2-year-old Mumbai-based Scootsy is on track to break even by December and is looking to become a self-sustained profitable venture soon thereafter, CEO Sandeep Das told Quartz.

Scootsy has 2,000 sellers across different categories ranging from boutique owners to booksellers to bakers, yet at least half of the listings are restaurants and kitchens. Of these 1,000-odd food providers, more than 60% exclusively deliver via Scootsy’s platform, Das says. (At the outset, Scootsy was meant to be a food-delivery service. It acquired the Meals on Wheels service so that it could learn from its mistakes. It changed to a multi-category model just before the launch, VCCircle reported.)

Scootsy isn’t just another yellow pages-like listing for every single local dhaba (roadside restaurant) and Chinese restaurant. The team curates offerings based on popularity, a premium reputation or—if the restaurant is not well-established—through tastings. And unlike other services that operate within a radius of three to four kilometers, Scootsy delivers food from up to 15 kms away. The company’s most impressive feat, perhaps, is its 60-minute delivery promise, no matter the distance. Das claims that orders have been delivered within the window more than 98% of time.

By selling premium products to hi-end customers with deep pockets, Scootsy has a shot at creating a unique brand that could garner enough loyalists. However, its exclusivity will likely restrict its reach. For instance, Scootsy claims that its average order size is Rs900($13.94). In India, where the average daily wage was Rs272($4.21) in 2014, that far exceeds what the masses can afford to pay. Whether Scootsy has a future beyond moneyed Mumbaikars is up for debate.

A growing food fiesta

The culture of ordering food online is picking up in India.

The 30% growth in its online food delivery sector between 2015 and 2016 far outpaced the restaurant industry’s 11% growth, according to a 2017 RedSeer report. Online delivery grew, as measured by gross merchandise value from a $120-million industry in India to $300 million over the same period, the consulting firm said. (GMV is often considered a window-dressing metric that exaggerates success, but still the big increase is still notable.)

Earlier, Indians who would order over the phone would send helpers and drivers to pick up. That required sparing change for an auto-rickshaw ride or burning fuel in the car. With other delivery services, there is often a surcharge for home delivery. With Scootsy, the customer does not have to foot any of the delivery cost, so technically, they save money.

“Our margins are on the bill value,” says Das. On average, Scootsy takes a 20% commission from the restaurant.

Restaurants don’t mind forking out a percentage of their earnings because delivery mitigates a lot of overheads that exist when you consume a meal in the restaurant. In some cases, they may have had to hire and pay delivery personnel anyway but lack the bandwidth to train them well. From a customer acquisition point of view, with Scootsy’s wide coverage, they can also have more people tasting their food who would otherwise not come to or order from the restaurant.

Flavored with experience

India is a price-sensitive market and nothing matters more than than a big discount—at least that’s the attitude in the startup sector thus far.

However, this mentality has made homegrown e-commerce startups bleed. Although a low price-tag can indeed lure customers, a lower price on your competitor’s site can make them switch just as fast.”If your whole formula is discounting, someday it will stop,” says Das. “You don’t build loyalty on discounts.”

But then how do you build it? Have the best supply, the best service, and even better price—not by discounting—by combining a few items into a bundle or offering exclusives, says Das. For instance, Scootsy sometimes sells exclusive bento boxes, sandwiches, and shakes from different outlets.

A rich premium shake made with chocolate & coffee fudge by Oh Fudge only for Scootsy customers! Get this shake here: https://t.co/K5M5ihEw6c http://pic.twitter.com/QZ2hvvlPdf

— Scootsy (@ScootsyIt) May 18, 2017

The strategy seems to be working. While its domestic competitors aim to ape and beat deep-pocketed giants like Google’s Areo and UberEATS, Scootsy is acquiring more than 10,000 customers per month and retaining 80% month over month, Das told Quartz. He says the platform may clock fewer orders than competitors like Zomato, but its huge order sizes make it a market leader in terms of GMV.

Uniformed delivery boys.

Another differentiating factor: For Scootsy, the doorstep experience is as important as the online—on its app, its website—and eating ones. “Earlier, the guy who had nothing better to do was given a brown color paper bag wrapped around a 50-day-old newspaper in a dirty plastic white bag. He would show up in bathroom slippers and looked like he hadn’t showered in the last three months,” Das says. “If you’re ordering food from the kind of restaurant we deliver from, food worth Rs5000, this guy needs to be presentable.”

Collectively, the scooter-riding delivery boys are labeled “a squad of knights in shining helmets available to your rescue” in the company’s Twitter bio. They are groomed through a training program at the start and monthly refreshers thereafter. They all don uniforms and are well-spoken. These things matter to elite, urban dwellers—Scootsy’s primary audience.

The premium market is limited

The food-tech scene is mostly thriving in major metros so far. The five Indian cities with the most online ordering accounted for more than 80% of total orders in the country. Basically, these are the places where people have enough disposable income to splurge.

Even as Mumbai starts to lose its mojo as one of India’s most dynamic startup hubs, Scootsy is doubling down on the city, continuing to add on new users. The platform says it has over 201,000 users, counting celebrity clientele like Alia Bhatt among them.

Scootsy adds “a new twist into this game where everybody else is chasing a huge customer base—they’re chasing a huge ticket size,” according to Deepak Menaria, chief idea farmer at the Lemon School of Entrepreneurship in Nagpur, Maharashtra. “There are always going to be few people who wouldn’t mind paying if they’re getting specific food from a specific brand,” he told Quartz, adding that delivery also helps people avoid the hassle of navigating congested routes, traveling for hours, and finding parking.

However, the premium audience is miniscule. “If they have to look at a sustainable model, it would more or less get restricted to ten to fifteen cities in India,” said Menaria. That could work initially. But over time, he believes the brand will have to “change or pivot” and stop riding on just the high-ticket size if it wants to tap into the market of 833 million rural Indians.

Menaria understands that having multiple verticals reflects a “risk mitigation plan” but he also believes that if food is the future for Scootsy, it should ditch its other products. And it’s something Scootsy maybe thinking of already as it pumps new money into food-related ventures.

What’s cooking on funding

Last month, Scootsy raised its first-ever funding round, worth $3.6 million.

With that, Scootsy is launching two new frameworks: one is Scootsy Express and the other—still unnamed—is a cloud kitchen of sorts. The former is essentially a digitized version of Mumbai’s dabbawalas (lunchbox carriers) with offerings from elite restaurants that will allow companies to pre-order corporate lunches. The latter follows a kitchen-based model of sorts, taking control of the cooking, packaging, and delivering food—a winning model as per Sandeep Murthy, co-founder of Mumbai-based Lightbox VC.

Basically, experts think that the food delivery services that just aggregate and deliver, instead of controlling the quality of food and being selective, are among the first to shutter. Scootsy doesn’t fully adopt that model and puts in checks and balances in place. Here’s how: Scootsy will pick a revered Delhi restaurant. Next, it will bring a chef from that eatery to cook in Mumbai for a limited period of time��say, a month. During this time, customers will get an out-of-city experience, getting a taste of something they would’ve never experinced unless they flew or took the train to Delhi. All in the same 60-minute delivery frame.

In the near term, the urban eater is Scootsy’s audience and Scootsy is looking to “work only in cities where we can generate certain order sizes,” says Das. In the coming months, Scootsy is looking to raise another round of funding. This time, the hyperlocal startup will expand its horizons to big cities beyond the borders of Mumbai. Next stop? Delhi NCR.

May 29, 2017 at 09:08AM http://ift.tt/2rvWqDW from Ananya Bhattacharya http://ift.tt/2rvWqDW

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E Rickshaw Differential All Size | Rickshaw Differential Manufacturers & Suppliers in India

Differentials are used in E Rickshaws to help improve the vehicle's traction and maneuvering. The E rickshaw differential is a gear system that allows the left and right wheels to turn at different speeds. This helps the vehicle to turn corners and make turns more smoothly while maintaining traction on the surface. It also reduces wear and tear on the vehicle, improves ride quality, and reduces fuel consumption.

E Rickshaw Differential (Product Specification)

Application : E Rickshaw

Material : Steel

Type of Part : Metal

Size : 33" & 35''

Vehicle : E Rickshaw

Product Model : ALTEVD-3300 / ALTEVD-3500

Brand : Altos

Minimum Order Quantity : 50 Pcs

Size : 33 Inch / 35 Inch

Brake Type : Drum Brake

Brake Shoe Size : 160mm

Gear Type : Open Gear

Gear Ratio : 0.0486111111111111

Volt : 48/60V

Adaptive Motor Power : 800 ~ 1500 Watt

Net Weight : 19 Kgs

Max Speed (Kmph) : <=30

Max Load (Kg) : 900 Kgs To 1000kgs

PCD : 100 mm

Axle Type : Rear Axle

Gear Oil : 200 ML

Packing : 1 Pc

Warranty : 1 Year

We also provide other products of Electrical Vehicle like :

Dc TO DC Converter,

E Rickshaw Charger,

E Rickshaw Controller​,

E Rickshaw Differential​,

E Scooter Controller​,

E Rickshaw Motor​ etc.