An automotive accessories manufacturer plans to raise Rs 13.86 crore via the BSE SME platform.
Autofurnish Ltd., a manufacturer and marketer of automotive accessories, opens for subscription on May 21 with the issue closing on May 25. The company is listing on the BSE SME platform through a fixed-price issue at Rs 41 per share.
What the Company Does
Autofurnish manufactures and markets a range of automotive accessories serving both B2B and B2C segments. The company’s product portfolio covers various categories in the automotive accessories space. It serves dealers, distributors, and retail customers, giving it a dual-channel reach across the wholesale and consumer segments. This is a fixed-price issue — meaning investors apply at a single defined price of Rs 41 per share rather than a price band. All proceeds flow to the company as there is no OFS component.
Issue Details
| Particulars | Details |
|---|---|
| Issue Opens | May 21, 2026 |
| Issue Closes | May 25, 2026 |
| Listing | BSE SME (May 29, 2026) |
| Issue Price | Rs 41 per share (Fixed Price) |
| Face Value | Rs 10 |
| Issue Size | Rs 13.86 crore (100% Fresh Issue) |
| Total Shares | 35,61,000 shares |
| Lot Size | 3,000 shares (min 2 lots = 6,000 shares) |
| Min. Retail Investment | Rs 2,46,000 |
| BRLM | Novus Capital Advisors Pvt. Ltd. |
| Registrar | Skyline Financial Services Pvt. Ltd. |
| Market Maker | NDA Securities Ltd. |
Financial Performance
| Particulars (Rs cr) | FY24 | FY25 |
|---|---|---|
| Revenue | 15.92 | 33.88 |
| PAT | 1.63 | 3.50 |
| PAT Margin | 10.24% | 10.33% |
Revenue has doubled from Rs 15.92 crore in FY24 to Rs 33.88 crore in FY25, and PAT has followed, growing from Rs 1.63 crore to Rs 3.50 crore. Margins have held steady at around 10%, suggesting the growth is not at the cost of profitability — a positive signal. However, only two years of meaningful financial data are available, making trend assessment limited.
Risks to Consider
The automotive accessories segment is highly competitive and fragmented, with numerous domestic players, private labels, and Chinese imports competing on price. The company has a very short visible financial track record to evaluate. At Rs 13.86 crore, this is a micro-cap issue and post-listing liquidity in the stock could be very thin.
Analyst View
Independent analysts note that while the company has posted growth in its top and bottom lines for the reported periods, the issue appears fully priced, according to analysts, for a business operating in a highly competitive and fragmented segment.