Sansera Engineering shares made a tepid start on the stock market on Friday. The shares of auto components manufacturer company got listed at Rs 811.35 per share on the BSE and Rs 811.5 per share on the NSE, up 9 per cent than the issue price of Rs 744 apiece at the upper end. 

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The listing is exactly in line with Zee Business Managing Editor Anil Singhvi’s expectations. He had expected that Sansera Engineering shares would be listed in Rs 800-850 per share range, and also suggested long-term investors to hold the stocks with a stop loss of Rs 750 per share.

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The stock touched Rs 842 per share on the BSE and Rs 833 per share on the NSE as its 52-week high, while it hit Rs 811.35 per share on the BSE and Rs 811.5 on the NSE as its 52-week low during the listing.

Sansera Engineering's initial public offer (IPO) was subscribed 11.47 times in three days between September 14-16, 2021 for Rs 1283 crore with a price band of Rs 734-744 per share.

In his IPO preview, Zee Business Managing Editor Anil Singhvi had suggested that the investors, who can take risks and hold the stock for long term, should subscribe or can be avoided. He added that investors should look at the valuations of the IPO and how it is compared to other listed companies. 

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. 

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.