| The stock had made only a modest debut at Rs 261.15 on BSE on 31 January 2007 compared with the IPO price of Rs 225. It had settled at Rs 257.95 on the first day of listing. |
| Autoline's IPO was subscribed 17.36 times. The company had priced the IPO at the upper end of the Rs 200-225 band. |
| The company supplies complex sheet metal assemblies and sub-assemblies to Tata Motors, Bajaj Auto, Kinetic Engineering, Mahindra & Mahindra, Walker Exhaust and Fiat India. |
| Tata Motors, which buys components for passenger cars and commercial vehicles, is Autoline's largest customer accounting for about 85 per cent of revenues in FY 2006 (year ended 31 March 2006). |
| From a turnover of Rs 51 crore in FY 2004, Autoline's revenues scaled up to Rs 118 crore for the eight months of the current fiscal. |
| Bajaj Finance: Cashing in |
| Bajaj Auto Finance climbed 19 per cent to Rs 432.20 on reports that Bajaj Auto plans to spin off its cash and investment assets division to the company. |
| Bajaj Auto Finance clocked volumes of 1.58 lakh shares last week compared with 50,000 shares during the week ended February 2. |
| As per reports, Bajaj Auto has decided to put plans for a spinning off the cash and investment assets on a fast tract. |
| The report also said the company may consider merging these assets, which include insurance business, with Bajaj Auto Finance. Bajaj Auto Finance, a Bajaj group NBFC, is largely into retail lending. |
| Apart from financing two-wheelers and consumer durables, the company finances personal computers and personal loans. |
| Bajaj Auto Finance reported a turnaround net profit of Rs 16.86 crore in the Q3 December 2006compared with a net loss of Rs 11.81 crore in Q3 December 2005. |
| Operating income for the quarter rose by 77.6 per cent to Rs 126.76 crore from Rs 71.38 crore in the corresponding quarter of the previous fiscal. |
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