Sansera Engineering IPO: The Rs 1,283 crore preliminary public providing (IPO) of auto part producer Sansera Engineering will open on Tuesday, September 14, 2021, and will probably be accessible for subscription until Thursday, September 16, 2021. The worth band of the IPO has been fastened at Rs 734-744 per share of the face worth of Rs 2 every.
Sansera Engineering is a Bengaluru-based auto part maker. It is an engineering-led built-in producer of complicated and demanding precision engineered elements throughout automotive and non-automative sectors.
The IPO is solely a suggestion on the market (OFS) of 17,244,328 fairness shares by the promoting shareholders, as per the data given within the crimson herring prospectus (RHP). The supply may elevate as much as Rs 1,283 crore on the higher worth band.
Since the IPO is totally an OFS, the corporate wouldn’t is not going to straight obtain any proceeds from the supply and all of the proceeds will probably be obtained by the promoting shareholders.
Those providing shares within the OFS are current buyers – Client Ebene, CVCIGP II Employees Ebene and promoters – S Sekhar Vasan, Unni Rajagopal Ok, F R Singhvi and D Devaraj.
Upon its itemizing, it’ll be part of the likes of listed friends resembling Bharat Forge, Motherson Sumi Systems, Minda Industries so on.
This is Sansera Engineering’s second try and go public. In August 2018, the corporate had filed IPO papers with market regulator Sebi and had additionally bought its clearance to drift the difficulty. However, it didn’t go forward with the IPO launch.
Investors who want to subscribe to Sansera Engineering’s IPO can bid within the lot of 20 fairness shares and multiples thereof. At the higher worth band, they must shell out Rs 14,880 to get a single lot of Sansera. The shares will probably be listed on each BSE and the National Stock Exchange (NSE).
Half of the difficulty dimension has been reserved for certified institutional consumers (QIBs), 35 per cent for the retail buyers and remaining 15 per cent is for non-institutional buyers.
Ahead of the general public supply, the anchor buyers’ portion will probably be accessible on Monday, September 13, 2021.
The firm expects that itemizing of the fairness shares will improve its visibility and model picture and supply liquidity to shareholders and the itemizing will present a public marketplace for the fairness shares within the nation, the based on the RHP.
ICICI Securities, IIFL Securities and Nomura Financial Advisory and Securities (India) are the guide operating lead managers to the IPO whereas Link Intime India is the registrar of the difficulty.
Apart from this, the share allotment is prone to happen on September 21, 2021, and the shares are anticipated to be listed on September 24, 2021, based on the timeline given within the RHP.