Sansera Engineering IPO To Open On September 14
The Initial Public Offering (IPO) of
Sansera Engineering Ltd will commence on September 14 and run for three days,
ending on September 16. The initial share sale price band has been set at
Rs 734-744 per share. The Offer for Sale (OFS) of 17,244,328 equity shares
by promoters and existing shareholders is the totality of the public offering
Existing investors Client Ebene, CVCIGP II
Employees Ebene, and promoters S Sekhar Vasan, Unni Rajagopal K, F R Singhvi,
and D Devaraj are among those selling shares in the OFS.
The public issue's merchant bankers are
ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities
(India) Private Limited. Qualified institutional buyers (QIBs) will receive 50%
of the issuance, while retail investors will receive 35% and non-institutional
investors (NIIs) would receive 15%.
The Bengaluru-based company is a
technology-driven integrated manufacturer of complex and crucial precision
designed components for the automotive and non-automotive industries.
For the two-wheeler, passenger car, and
commercial vehicle verticals, the firm manufactures and supplies a
comprehensive range of precision forged and machined components that are vital
for engine, transmission, brake, and other systems.
Sansera Engineering manufactures and
supplies precision components for the aerospace, off-road, agriculture, and
other industries, including engineering and capital goods, in the
This is the company's second public
offering. Sansera Engineering had previously filed IPO papers with SEBI in
August 2018 and gained regulatory approval to float the public offering. The
launch, however, was cancelled, according to the news agency PTI.
The company hopes that listing the equity
shares will improve its visibility and brand image, as well as provide
liquidity to shareholders, according to the draft filings. The listing
will create a public market for the country's equity shares.
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