Sansera Engineering IPO – Rs 1283 cr issue opens on 14 September – Share Price Band at Rs 734-744 – know about issue, size, promoters and More

Sansera Engineering IPO – The Initial Public Offering (IPO) of Sansera Engineering Limited will open on 14 September. The three-day issue will be closing on 16 September. The price band set for this public issue is at Rs 734-744 per equity share as per a PTI report. At the upper end of the price band, the initial share-sale is expected to garner Rs 1,283 crore.

The initial public offering (IPO) is entirely an offer for sale (OFS) of 17,244,328 equity shares by promoters and investors. Those offering shares in the OFS are existing investors -- Client Ebene, CVCIGP II Employees Ebene and promoters -- S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj.

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The company is an auto component manufacturer which was incorporated in 1981 in Bengaluru and commenced commercial production of passenger vehicle components in 1986.

The report quoted Sansera Engineering fixing a price band of Rs 734-744 a share for its Rs 1,283-crore initial share-sale.

The bidding for anchor investors will open on September 13, the company said and PTI reported.

Half of the issue size has been reserved 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. Also, the listing will provide a public market for the equity shares in the country.

This is the company's second attempt to go public. Earlier, Sansera Engineering had filed IPO papers with Sebi in August 2018 and had also received its clearance to float the public issue. However, it did not go ahead with the launch.

The Bengaluru-based firm is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automative sectors.

ICICI Securities, IIFL Securities and Nomura Financial Advisory and Securities (India) Private Limited are the book running lead managers to the issue.

The investors looking to invest in this issue can find more information in the Red Herring Prospectus of the issue available on the NSE.