- The Sansera Engineering IPO is entirely an offer for sale (OFS) of 17,244,328 equity shares by promoters and investors.
Written by Susmita Pakrasi | Edited by Meenakshi Ray, Hindustan Times, New Delhi
PUBLISHED ON SEP 14, 2021 06:54 AM IST
Sansera Engineering IPO will open on Tuesday and the auto component maker has fixed a price band of ₹734-744 per share for its ₹1,283-crore initial share sale. The public subscription will close on Thursday, September 16, the company has said.
The Sansera Engineering IPO is entirely an offer for sale (OFS) of 17,244,328 equity shares by promoters and investors. Existing investors Client Ebene, CVCIGP II Employees Ebene and promoters—S Sekhar Vasan, Unni Rajagopal K, FR Singhvi and D Devaraj—are offering shares in the OFS. The initial share sale is expected to collect ₹1,283 crore at the upper end of the price band.
ICICI Securities, IIFL Securities and Nomura Financial Advisory and Securities (India) Private Limited are the book running lead managers to the issue.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Sansera Engineering expects that listing of the equity shares will increase its visibility and brand image and provide liquidity to shareholders and also provide a public market for the equity shares in the nation. This is the company’s second attempt to go public.
In August 2018, the company filed IPO papers with the Securities and Exchange Board of India (Sebi) and also received its clearance to float the public issue. However, it did not go ahead with the launch.
The Bengaluru-based company is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automative sectors.
(With inputs from agencies)
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