Sandhar Technologies to debut on bourses; firm's Rs 512 cr IPO subscribed 6.2 times

Auto component maker Sandhar Technologies, which recently concluded its initial public offer, will make its stock market debut on Monday. The company's Rs 512-crore IPO was open during March 19-21 and was subscribed 6.2 times. The public offer had a fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares, which included anchor portion of 46,30,842 shares. The price band was fixed at Rs 327-332.

ICICI Securities and Axis Capital were the book running lead managers to the offer. The scrip will be listed on the BSE and the National Stock Exchange. 

Meanwhile, the stock markets are expected to be steered by RBI policy, macroeconomic data points and global trends this week. Experts say, "The market is slowly expected to gain momentum in the month of April and bounce back from lows on expectation of good numbers. "There is still uncertainty regarding how the US markets will unfold and the impact of trade wars... But more or less the same has been factored in and therefore the markets should perform better than what the majority are expecting on the street," said Jimeet Modi, Founder and CEO, SAMCO Securities.

"The RBI's Monetary Policy Committee will meet on April 4 and 5 for the first bi-monthly monetary policy for 2018-2019. Global trends, investments by FIIs, domestic institutions and movement of rupee will be watched closely by traders," said Mustafa Nadeem, CEO, Epic Research. Also, PMI data for the manufacturing and services sector would influence trading sentiment, market analysts said. Auto stocks would also be in focus amid sales data announcement.

"As far as the outlook for FY19 is concerned, we have a conservative expectation, volatility is expected to stay given high valuations, fall in credit growth (mess in financial market), pre-election volatility and trade war issues," said Vinod Nair Head of Research, Geojit Financial Services. Over the last week, the Sensex rose 372.14 points, or 1.14 per cent.