The initial public offer (IPO) of Sansera Engineering received bids for 13.88 crore shares as against 1.21 crore shares on offer, according to stock exchange data available with the NSE. The issue was subscribed 11.47 times.
The qualified institutional buyers (QIBs) category was subscribed 26.47 times, the non-institutional investors category was subscribed 11.37 times and the retail individual investors (RIIs) category was subscribed 3.15 times.
The issue opened for bidding on Tuesday (14 September 2021) and closed on Thursday (16 September 2021). The price band of the IPO was fixed at Rs 734-744 per share.
The IPO was complete offer for sale (OFS) issue of Rs 1,282.98 crore by existing shareholders - Client Ebene, CVCIGP II Employee Ebene, S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj.
The company will not directly receive any proceeds from the offer, and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by them.
The promoters and promoter group hold an aggregate of 2,25,58,375 equity shares, aggregating to 41.98% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 34.96%.
Ahead of the IPO, Sansera Engineering on 13 September 2021 finalized allocation of 51,35,162 equity shares to anchor investors at an allocation price of Rs 744 per share, aggregating to Rs 3,82,05,60,528.
Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors. Within the automotive sector, company manufacture and supply a wide range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp, and aluminium forged parts, that are critical for engine, transmission, suspension, braking, chassis and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals.
The company reported a consolidated net profit of Rs 107.99 crore and total income of Rs 1,549.27 crore in the twelve months ended 31 March 2021.
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