Auto element maker Sansera Engineering Ltd has filed preliminary papers with capital markets regulator Sebi to lift funds by means of an preliminary share-sale.
The preliminary public supply (IPO) is solely a proposal on the market (OFS) of 17,244,328 fairness shares by promoters and current shareholders, draft purple herring prospectus (DRHP) filed with Sebi confirmed.
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.
The firm mentioned it expects that itemizing of the fairness shares will improve its visibility and model picture and supply liquidity to shareholders. Also, the itemizing will present a public marketplace for the fairness shares within the nation.
This is the corporate’s second try to go public. Earlier, Sansera Engineering had filed IPO papers with Sebi in August 2018 and had additionally acquired its clearance to drift the general public problem. However, it didn’t go forward with the launch.
The Bengaluru-based agency is an engineering-led built-in producer of advanced and important precision engineered parts throughout automotive and non-automotive sectors.
Within the automotive sector, the corporate manufacture and provide a variety of precision cast and machined parts and assemblies which can be vital for engine, transmission, braking, and different programs for the two-wheeler, passenger car, and business car verticals.
In the non-automotive sector, Sansera Engineering manufactures and provides precision parts for the aerospace, off-road, agriculture and different segments, together with engineering and capital items.
ICICI Securities, IIFL Securities and Nomura Financial Advisory and Securities (India) Private Limited have been appointed as service provider bankers to advise the corporate on the IPO.
