Two entities exit Sansera Engg; sell 11.66% stake for Rs 750 crore

Two entities on Wednesday exited Sansera Engineering by selling their entire 11.66 per cent stake in the auto components manufacturer for a combined value of Rs 750 crore through open market transactions.

Client Ebene and CVCIGP II Employee Ebene were the two entities who offloaded their shares in Bengaluru-based Sansera Engineering through separate block deals on the National Stock Exchange (NSE).

A total of 62.53 lakh shares, representing an 11.66 per cent stake, were sold by both entities.

As per the data on the NSE, Client Ebene Ltd sold 50.30 lakh shares of Sansera Engineering, and CVCIGP II Employee Ebene offloaded 12.23 lakh shares, amounting to a 9.38 per cent and 2.28 per cent stake, respectively, in the company.

The shares were disposed of at an average price of Rs 1,200 apiece, taking the combined transaction value to Rs 750.39 crore.

A clutch of domestic mutual funds, insurance companies and foreign investors have bought shares of the auto components maker.

SBI Mutual Fund (MF), Axis MF, Bandhan MF, DSP MF, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, Morgan Stanley Asia Singapore, Societe Generale, Custody Bank of Japan Ltd, Amundi Funds New Silk Road were among the buyers of the stake in Sansera Engineering.

As of March 2024, Client Ebene Ltd held a 9.38 per cent stake in Sansera Engineering, while CVCIGP II Employee Ebene owned a 2.28 per cent stake in the auto components manufacturer.

On Wednesday, shares of Sansera Engineering jumped 5.14 per cent to close at Rs 1,274 apiece on the NSE.

In June 2023, Client Ebene and CVCIGP II Employee Ebene pared a 14 per cent stake in Sansera Engineering for Rs 622 crore.

In a separate block deal on the NSE, Orbimed Asia III Mauritius divested its entire 9.88 per cent stake in Advanced Enzyme Technologies for Rs 425 crore through an open market transaction.

Orbimed Asia III Mauritius sold 1,10,53,245 shares, amounting to a 9.88 per cent stake in Advanced Enzyme Technologies, as per the data on the NSE.

The shares were offloaded at an average price of Rs 385 apiece, taking the deal size to Rs 425.55 crore.

These shares were acquired by Motilal Oswal Financial Services at the same price.

The scrip of Advanced Enzyme Technologies slipped 0.29 per cent to settle at Rs 380.70 per piece on the NSE.