Published 10:24 IST, September 14th 2021
Sansera Engineering raises ₹382 cr from investors ahead of IPO launch
The auto component maker raised Rs 382 crore from anchor investors ahead of its second attempt to go public. The IPO will be open between Sept 14 and Sept 16
Ahead of its Initial Public Offering (IPO) on Tuesday, auto component maker Sansera Engineering Ltd informed that it has collected Rs 382 crore from anchor investors. The fundraise came a day before its 5,135,162 equity shares to anchor investors opened for subscription. The shares on offer from the auto engineering firm were priced at Rs 744 apiece, according to a circular uploaded on the BSE website.
The company has now secured a large sum from its anchor investors which include the Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Axis Mutual Fund (MF), ICICI Prudential MF, SBI Life Insurance Co Ltd, Max Life Insurance Company and Kuber India Fund. The move came a day ahead of the company’s second attempt to go public. Earlier, the auto component maker had filed IPO papers with SEBI in August 2018. However, the issue didn’t go through despite receiving clearance from the regulator.
Sansera Engineering IPO: All you need to know
The Sansera Engineering IPO will be open for bidding on BSE and NSE between September 14 and September 16. The auto component manufacturer has set a price band at Rs 734-744 per equity share. Investors can bid for a minimum of one lot, which is 20 equity shares. At maximum, retail investors can bid for 13 lots.
The company is putting an offer for sale (OFS) of 17,244,328 equity shares by promoters and investors and will look to raise a total of Rs 1,283 crore on the upper end of the price band. Half of the total issue size has been reserved for qualified institutional investors, while retail investors can bid for 35%. The remaining 15% have been offered for non-institutional investors. With the listing, the company aims to enhance its visibility and brand image and provide liquidity to shareholders.
Found in 1981, Sansera Engineering Ltd is a Bengaluru-based firm that manufactures integrated complex and critical precision engineered components across automotive and non-automotive sectors. The company has a wide range of precision forged and machined components within the automotive sector. The company also produces components for aerospace, off-road, agriculture and other segments, including engineering. The company showed a revenue turnover of Rs 1,572 cr in 2021, while its profits stood at Rs 110 cr.
(Image: Unsplash/Pixabay)
Updated 10:24 IST, September 14th 2021