Sansera Engineering IPO to open tomorrow. Check price band, other details
Sansera Engineering IPO will open for subscription on Tuesday, September 14, and close on September 16 as the company has fixed a price band of ₹734-744 a share for its ₹1,283-crore initial share sale. The Bengaluru-based Sansera Engineering initial public offering (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 Sansera Engineering initial share sale is expected to garner ₹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.
Sansera Engineering has reserved half of the issue size for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. The company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to shareholders and provide a public market in the country.
This is the company's second attempt to go public. Sansera Engineering filed IPO papers with the Securities and Exchange Board of India (Sebi) in August 2018 and also received its clearance to float the public issue. But, it did not go ahead with the launch.
Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automative sectors.
(With agency inputs)