Patil Automation IPO Subscribed 2.34x On The Second Bidding Day. Check GMP, Other Key Details

Patil Automation IPO, witnessed strong investor interest, getting subscribed 2.34 times by the end of the second bidding day on June 17, 2025. The IPO opened for public subscription on June 16 and will close on June 18.

Patil Automation IPO subscribed over 2.34 times on its Second day of subscription, where retail investors led with 3.32 times subscription, followed by non-institutional investors (NII) at 3.07 times. Qualified Institutional Buyers (QIBs), however, subscribed just 0.09 times as of 5 PM on Day 2.

On the first day, the IPO was already subscribed over 8.22 times, showing robust early demand.

Patil Automation IPO Details:

The IPO is priced in the range of Rs 114 to Rs 120 per share, with a face value of Rs 10. Investors can bid in minimum lots of 1,200 shares. At the upper price band, a single retail application would require an investment of Rs 1,44,000. High-net-worth individuals can apply for at least two lots, requiring Rs 2,88,000.

The issue size stands at Rs 66.10 crore, entirely a fresh issue with no offer for sale component. The shares are expected to list on the NSE SME platform on June 23, 2025. The allotment of shares is likely to be finalized by June 19.

The funds raised from the Patil Automation IPO will be utilized for several key purposes. A significant portion will go towards establishing a new manufacturing facility to support the company's expansion plans.

Additionally, part of the proceeds will be used to repay certain borrowings, helping to reduce the company's debt burden. The remaining funds will be allocated for general corporate purposes to support overall business operations and future growth.

Seren Capital Private Limited is managing the issue as the lead book-running manager, while Purva Sharegistry (India) Pvt. Ltd. is acting as the registrar.

Grey Market Premium (GMP) and Listing Expectations:

As of June 17, the grey market premium (GMP) for Patil Automation stood at Rs 24. This suggests a potential listing price of around Rs 144 per share, indicating a 20% premium over the issue price of Rs 120, according to IPO tracking site Investorgain.com.

About Patil Automation:

Founded in 2015, Patil Automation is a Pune-based provider of custom automation solutions for industrial clients, especially in the automotive sector. The company designs, manufactures, tests, and installs systems like welding and assembly lines, material handling equipment, and other special-purpose machines.

Its customer base includes automotive OEMs, Tier I suppliers, and manufacturers of automotive parts. Patil Automation operates across 10 states in India and had 244 full-time employees and 256 contract workers as of March 31, 2025.

Financial Performance:

Patil Automation has shown steady growth over the past two years. In the financial year 2025, the company recorded a revenue of Rs 122.04 crore, slightly higher than Rs 118.72 crore in 2024. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 15.21 crore.

The profit after tax also increased to Rs 11.70 crore in 2025, compared to Rs 7.84 crore in the previous year. According to the company's red herring prospectus (RHP), its only listed competitor is Affordable Robotic & Automation Ltd.

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